Shares of Oclaro Inc. (NASDAQ:OCLR) were down 6.5% during trading on Tuesday . The stock traded as low as $8.45 and last traded at $8.51, with a volume of 5,202,353 shares changing hands. The stock had previously closed at $9.10.

Several analysts have commented on OCLR shares. MKM Partners increased their price target on shares of Oclaro from $8.00 to $10.00 and gave the company a “top pick” rating in a research report on Thursday, September 1st. TheStreet raised shares of Oclaro from a “hold” rating to a “buy” rating in a research report on Wednesday, August 3rd. Piper Jaffray Cos. reissued an “overweight” rating and set a $6.75 price target on shares of Oclaro in a research report on Monday, August 1st. Needham & Company LLC decreased their price target on shares of Oclaro from $10.00 to $8.00 and set a “strong-buy” rating for the company in a research report on Tuesday, August 30th. Finally, Zacks Investment Research lowered shares of Oclaro from a “buy” rating to a “hold” rating in a research report on Wednesday, July 6th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. Oclaro presently has a consensus rating of “Buy” and a consensus target price of $7.95.

The firm has a market cap of $1.27 billion, a P/E ratio of 110.51 and a beta of 1.86. The firm has a 50-day moving average of $7.46 and a 200 day moving average of $5.60.

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Oclaro (NASDAQ:OCLR) last released its earnings results on Wednesday, August 3rd. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.05. The company earned $125.20 million during the quarter, compared to the consensus estimate of $119.41 million. Oclaro had a return on equity of 6.24% and a net margin of 2.10%. Oclaro’s revenue was up 52.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) EPS. Analysts expect that Oclaro Inc. will post $0.39 earnings per share for the current year.

In other news, insider Adam Carter sold 19,506 shares of the business’s stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $6.00, for a total transaction of $117,036.00. Following the completion of the transaction, the insider now directly owns 202,584 shares of the company’s stock, valued at $1,215,504. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Lisa Paul sold 9,363 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $7.69, for a total value of $72,001.47. Following the transaction, the executive vice president now directly owns 218,264 shares of the company’s stock, valued at $1,678,450.16. The disclosure for this sale can be found here. 2.30% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Harvest Capital Strategies LLC bought a new position in shares of Oclaro during the first quarter worth approximately $540,000. Bayesian Capital Management LP bought a new position in shares of Oclaro during the first quarter worth approximately $107,000. Kennedy Capital Management Inc. bought a new position in shares of Oclaro during the first quarter worth approximately $5,279,000. Bogle Investment Management L P DE bought a new position in shares of Oclaro during the first quarter worth approximately $5,068,000. Finally, Wellington Management Group LLP bought a new position in shares of Oclaro during the first quarter worth approximately $7,976,000. 62.49% of the stock is owned by institutional investors and hedge funds.

Oclaro Company Profile

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.

5 Day Chart for NASDAQ:OCLR

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