Brokerage firm Stifel Nicolaus Maintains its rating on Oclaro(NASDAQ:OCLR). In a research note issued to the investors, the brokerage major Raises the price-target to $7.50 per share. The shares have been rated Buy. The rating by Stifel Nicolaus was issued on Aug 3, 2016.
In a different note, On Jul 25, 2016, Needham said it Upgrades its rating on Oclaro. The shares have been rated ‘Strong Buy’ by the firm.
Oclaro (OCLR) made into the market gainers list on Fridays trading session with the shares advancing 10.32% or 0.64 points. Due to strong positive momentum, the stock ended at $6.84, which is also near the day’s high of $6.97. The stock began the session at $6.31 and the volume stood at 80,01,231 shares. The 52-week high of the shares is $6.97 and the 52 week low is $2.24. The company has a current market capitalization of $767 M and it has 11,21,47,088 shares in outstanding.
Oclaro(OCLR) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $125.19M. Analysts had an estimated revenue of $119.41M. Earnings per share were $0.11. Analysts had estimated an EPS of $0.06.
Several Insider Transactions has been reported to the SEC. On Oct 20, 2015, Ltd Hitachi (10% owner) sold 1,300,000 shares at $2.36 per share price.Also, 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.