Oclaro (OCLR) : The most positive equity analysts on Oclaro (OCLR) expects the shares to touch $10, whereas, the least positive believes that the stock will trade at $7 in the short term. The company is covered by 8 Wall Street Brokerage Firms. The average price target for shares are $8.28 with an expected fluctuation of $1.01 from the mean.
Oclaro (OCLR) : Zacks Investment Research ranks Oclaro (OCLR) as 1, which is a Strong Buy recommendation. 8 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. A total of 1 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 9 research analysts is 1.22, which indicates as a Strong Buy.
Also, Cowen & Company initiates coverage on Oclaro (NASDAQ:OCLR) The current rating of the shares is Outperform. The rating by the firm was issued on August 8, 2016.
Oclaro (NASDAQ:OCLR): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $8.00 and $8.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.24. The buying momentum continued till the end and the stock did not give up its gains. It closed at $8.13, notching a gain of 3.17% for the day. The total traded volume was 5,723,229 . The stock had closed at $7.88 on the previous day.
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.