Oclaro (OCLR) reported quarterly earnings results on Tuesday, Aug-2-2016. The company said it had a profit of $0.11 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.06. The company posted revenue of $125.18 million in the period, compared to analysts expectations of $119.62 million. The company’s revenue was up 52.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.06 EPS.
Many Wall Street Analysts have commented on Oclaro. Company shares were Upgraded by Needham on Jul 25, 2016 to ” Strong Buy”, Firm has raised the Price Target to $ 7.50 from a previous price target of $7 .
Oclaro closed down -0.04 points or -0.69% at $5.73 with 22,17,968 shares getting traded on Friday. Post opening the session at $5.78, the shares hit an intraday low of $5.63 and an intraday high of $5.8 and the price fluctuated in this range throughout the day.Shares ended Friday 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.