The stock of Oclaro, Inc. (NASDAQ:OCLR) is a huge mover today! About 4.94 million shares traded hands or 4.00% up from the average. Oclaro, Inc. (NASDAQ:OCLR) has risen 49.25% since April 5, 2016 and is uptrending. It has outperformed by 47.29% the S&P500.
The move comes after 8 months positive chart setup for the $1.47 billion company. It was reported on Nov, 7 by Barchart.com. We have $12.07 PT which if reached, will make NASDAQ:OCLR worth $632.10M more.
Oclaro, Inc. (NASDAQ:OCLR) Ratings Coverage
Out of 10 analysts covering Oclaro Inc (NASDAQ:OCLR), 9 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 90% are positive. Oclaro Inc has been the topic of 18 analyst reports since August 18, 2015 according to StockzIntelligence Inc. Needham maintained it with “Buy” rating and $4.50 target price in Wednesday, November 4 report. Needham maintained the stock with “Strong Buy” rating in Tuesday, August 30 report. Craig Hallum initiated Oclaro, Inc. (NASDAQ:OCLR) rating on Thursday, December 3. Craig Hallum has “Buy” rating and $5 price target. On Friday, April 8 the stock rating was initiated by Drexel Hamilton with “Hold”. B. Riley & Co upgraded the stock to “Buy” rating in Wednesday, November 4 report. The stock of Oclaro, Inc. (NASDAQ:OCLR) earned “Buy” rating by Stifel Nicolaus on Thursday, October 22. The stock of Oclaro, Inc. (NASDAQ:OCLR) earned “Buy” rating by Jefferies on Monday, October 3. Stifel Nicolaus maintained the shares of OCLR in a report on Wednesday, November 2 with “Buy” rating. The company was maintained on Tuesday, September 6 by Stifel Nicolaus. Needham maintained the shares of OCLR in a report on Monday, October 31 with “Strong Buy” rating.
According to Zacks Investment Research, “Oclaro, with headquarters in San Jose, California, is a tier 1 provider of high performance optical components, modules and subsystems to the telecommunications market, and is one of the largest providers to metro and long haul network applications. Oclaro, the result of the combination of Bookham, Inc. and Avanex Corporation, leverages proprietary core technologies and vertically integrated product development to provide its customers with cost-effective and innovative optical devices, modules and subsystems. Its photonic technologies also serve selected potential high growth markets, including industrial, defense, life sciences, semiconductor, and scientific, with diversification providing both significant potential revenue streams and strategic technological advantage. Oclaro is a global company, with leading chip fabrication facilities in the UK, Switzerland and Italy, and manufacturing sites in the US, Thailand and China.”
Insitutional Activity: The institutional sentiment decreased to 1.45 in 2016 Q2. Its down 0.08, from 1.53 in 2016Q1. The ratio dived, as 26 funds sold all Oclaro, Inc. shares owned while 34 reduced positions. 41 funds bought stakes while 46 increased positions. They now own 89.93 million shares or 4.81% more from 85.80 million shares in 2016Q1.
Ameriprise Fincl reported 3.30M shares or 0.01% of all its holdings. Moreover, Svcs Automobile Association has 0.01% invested in Oclaro, Inc. (NASDAQ:OCLR) for 610,290 shares. Amalgamated Natl Bank owns 10,484 shares or 0% of their US portfolio. Stifel Fincl has invested 0% of its portfolio in Oclaro, Inc. (NASDAQ:OCLR). Geode Cap Ltd Liability last reported 696,706 shares in the company. The Massachusetts-based Whale Rock Capital Management Limited Liability has invested 2.35% in Oclaro, Inc. (NASDAQ:OCLR). Menta Ltd, a California-based fund reported 86,223 shares. Castleark Mgmt Ltd reported 802,530 shares or 0.12% of all its holdings. Essex Inv Com Llc holds 0.11% of its portfolio in Oclaro, Inc. (NASDAQ:OCLR) for 134,832 shares. Marvin & Palmer Associates Inc has invested 4.04% of its portfolio in Oclaro, Inc. (NASDAQ:OCLR). The Texas-based Bridgeway Capital Mngmt Inc has invested 0.03% in Oclaro, Inc. (NASDAQ:OCLR). Barclays Public Limited Com last reported 9,434 shares in the company. Moreover, Tower Cap Ltd Com (Trc) has 0% invested in Oclaro, Inc. (NASDAQ:OCLR) for 615 shares. Fmr Limited Liability Com reported 148,800 shares or 0% of all its holdings. Proshare Advisors Limited Liability has 12,070 shares for 0% of their US portfolio.
Another recent and important Oclaro, Inc. (NASDAQ:OCLR) news was published by Fool.com which published an article titled: “Why Oclaro, Inc. Stock Jumped” on November 02, 2016.
OCLR Company Profile
Oclaro, Inc., incorporated on June 29, 2004, is a well-known provider of optical components, modules and subsystems for the core optical transport, service provider, enterprise and data center markets. The Firm provides various solutions for optical networks and interconnects driving the next wave of streaming video, cloud computing, application virtualization and other bandwidth-intensive and high-speed applications. The Firm supplies core optical network technology to telecommunications and data communications equipment companies across the world. It targets communications equipment manufacturers that integrate its optical technology into the switching, routing and transport systems they offer to the global service and content providers that are building, upgrading and operating high-performance optical networks. It designs, makes and markets optical components, modules and subsystems that generate, detect, combine and separate light signals in optical communications networks. It supplies transmission products at the component level and the module level into 10 gigabits per second (Gb/s), 40 Gb/s and 100 Gb/s communications solutions.
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