Shares of Oclaro Inc (NASDAQ:OCLR) gapped up before the market opened on Monday . The stock had previously closed at $7.77, but opened at $8.07. Oclaro shares last traded at $8.45, with a volume of 2990064 shares traded.
OCLR has been the subject of a number of recent analyst reports. BidaskClub downgraded shares of Oclaro from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. ValuEngine raised shares of Oclaro from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Finally, Zacks Investment Research raised shares of Oclaro from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $9.48.
The firm has a market capitalization of $1.38 billion, a P/E ratio of 19.20, a price-to-earnings-growth ratio of 1.33 and a beta of 0.57.
A number of institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Oclaro by 1.4% in the third quarter. FMR LLC now owns 515,340 shares of the semiconductor company’s stock worth $4,607,000 after purchasing an additional 7,290 shares during the period. Virtu Financial LLC boosted its holdings in Oclaro by 69.2% in the third quarter. Virtu Financial LLC now owns 19,079 shares of the semiconductor company’s stock worth $171,000 after purchasing an additional 7,804 shares during the period. Public Employees Retirement Association of Colorado boosted its holdings in Oclaro by 109.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 18,153 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 9,487 shares during the period. Gamco Investors INC. ET AL acquired a new position in Oclaro in the third quarter worth $133,000. Finally, Wells Fargo & Company MN boosted its holdings in Oclaro by 3.9% in the third quarter. Wells Fargo & Company MN now owns 404,518 shares of the semiconductor company’s stock worth $3,616,000 after purchasing an additional 15,295 shares during the period. 72.93% of the stock is owned by hedge funds and other institutional investors.
WARNING: “Oclaro (OCLR) Shares Gap Up to $8.07” was published by Community Financial News and is the sole property of of Community Financial News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://www.com-unik.info/2018/12/04/oclaro-oclr-shares-gap-up-to-8-07.html.
Oclaro Company Profile (NASDAQ:OCLR)
Oclaro, Inc designs, manufactures, and markets optical components, modules, and subsystems for the long-haul, metro, and data center markets worldwide. The company's products generate, detect, combine, and separate light signals in optical communications networks. It offers client side transceivers, including pluggable transceivers; line side transceivers; tunable laser transmitters, such as discrete lasers and co-packaged laser modulators; lithium niobate modulators to manipulate the phase or the amplitude of an optical signal; transponder modules for transmitter and receiver functions; and discrete lasers and receivers for metro and long-haul applications.
Read More: Google Finance Portfolio
Receive News & Ratings for Oclaro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Oclaro and related companies with MarketBeat.com's FREE daily email newsletter.