Oclaro (OCLR) was Upgraded by Needham to ” Strong Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 7.50 from a previous price target of $7 . Earlier the firm had a rating of “Buy ” on the company shares. Needham advised their investors in a research report released on Jul 25, 2016.
Many Wall Street Analysts have commented on Oclaro. Company shares were Reiterated by Stifel on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 6.50 from a previous price target of $6 .Company shares were Reiterated by Needham on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 7 from a previous price target of $6.50 .Company shares were Reiterated by MKM Partners on May 4, 2016 to “Buy”, Firm has raised the Price Target to $ 6.50 from a previous price target of $6 .
On the company’s financial health, Oclaro reported $0.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 2, 2016. Analyst had a consensus of $-0.01. The company had revenue of $94.10 million for the quarter, compared to analysts expectations of $91.49 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.
Oclaro closed down -0.1 points or -1.82% at $5.39 with 18,58,591 shares getting traded on Wednesday. Post opening the session at $5.48, the shares hit an intraday low of $5.37 and an intraday high of $5.49 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on May 20, 2015, Greg Dougherty (CEO) purchased 20,000 shares at $2.06 per share price.
Oclaro Inc. is a provider of optical components modules and subsystems for the optical transport service provider enterprise and data center markets. The Company supplies optical network technology to telecommunication and data communication equipment companies across the world. The Company designs manufactures and markets optical components modules and subsystems that generate detect combine and separate light signals in optical communications networks. Its product offerings include client side transceivers line side transceivers tunable laser transmitters lithium niobate modulators transponder modules and receivers. The Company supplies optical products including tunable lasers external modulators integrated lasers and modulators and receivers. The Company also supplies products at the module and subsystem levels including transceivers transponders and controlled subsystems.