Oclaro Stock Rating Reaffirmed by Needham & Company (OCLR)
Oclaro (NASDAQ:OCLR)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company in a report released on Monday, Analyst Ratings.Net reports.
Oclaro (NASDAQ:OCLR) opened at 1.67 on Monday. Oclaro has a 1-year low of $0.88 and a 1-year high of $2.96. The stock has a 50-day moving average of $1.19 and a 200-day moving average of $1.19. The company’s market cap is $154.7 million.
Oclaro (NASDAQ:OCLR) last issued its quarterly earnings data on Monday, September 16th. The company reported ($0.33) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.36) by $0.03. The company had revenue of $136.10 million for the quarter, compared to the consensus estimate of $137.50 million. During the same quarter last year, the company posted ($0.44) earnings per share. Oclaro’s revenue was down 3.9% compared to the same quarter last year. On average, analysts predict that Oclaro will post $-1.16 earnings per share for the current fiscal year.
OCLR has been the subject of a number of other recent research reports. Analysts at Thomson Reuters/Verus downgraded shares of Oclaro (NASDAQ:OCLR) from a “hold” rating to a “sell” rating in a research note to investors on Monday, September 16th. Separately, analysts at B. Riley upgraded shares of Oclaro (NASDAQ:OCLR) from a “neutral” rating to a “buy” rating in a research note to investors on Friday, September 13th. They now have a $2.40 price target on the stock, up previously from $1.31.
Oclaro, Inc, is a provider of optical communications and laser components, modules and subsystems for a range of markets, including telecommunications (NASDAQ:OCLR), industrial, scientific, consumer electronics and medical.
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