The stock of Oclaro, Inc. (NASDAQ:OCLR) hit a new 52-week high and has $11.63 target or 22.00% above today’s $9.53 share price. The 7 months bullish chart indicates low risk for the $1.65 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $11.63 price target is reached, the company will be worth $363.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.62M shares traded hands. Oclaro, Inc. (NASDAQ:OCLR) has risen 96.22% since April 19, 2016 and is uptrending. It has outperformed by 92.35% the S&P500.
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. The stock of Oclaro, Inc. (NASDAQ:OCLR) earned “Buy” rating by Needham on Wednesday, November 4. The rating was maintained by M Partners on Wednesday, November 2 with “Buy”. Northland Capital maintained Oclaro, Inc. (NASDAQ:OCLR) on Thursday, November 19 with “Outperform” rating. The rating was initiated by Jefferies on Monday, October 3 with “Buy”. The rating was initiated by Drexel Hamilton on Friday, April 8 with “Hold”. The stock has “Buy” rating given by B. Riley & Co on Wednesday, November 4. The firm has “Outperform” rating by Barrington Research given on Friday, December 18. The stock has “Buy” rating given by Stifel Nicolaus on Wednesday, November 2. The stock of Oclaro, Inc. (NASDAQ:OCLR) earned “Buy” rating by Stifel Nicolaus on Thursday, October 22. On Monday, October 31 the stock rating was maintained by Needham with “Strong Buy”.
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 increased to 2.2 in Q2 2016. Its up 0.75, from 1.45 in 2016Q1. The ratio increased, 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.
Cambridge Investment Rech Inc last reported 17,500 shares in the company. Teacher Retirement Systems Of Texas reported 14,827 shares or 0% of all its holdings. Thrivent For Lutherans holds 0.02% or 863,100 shares in its portfolio. Automobile Association holds 0.01% or 610,290 shares in its portfolio. Analytic Invsts Lc owns 176,377 shares or 0.01% of their US portfolio. Moreover, Alliancebernstein L P has 0.02% invested in Oclaro, Inc. (NASDAQ:OCLR) for 4.52M shares. Glenmede Tru Na last reported 0% of its portfolio in the stock. Moreover, Brigade Cap Mngmt L P has 1.82% invested in Oclaro, Inc. (NASDAQ:OCLR) for 2.40M shares. Proshare Advsrs last reported 0% of its portfolio in the stock. Wellington Grp Incorporated Ltd Liability Partnership holds 3.31M shares or 0% of its portfolio. Art Advsr Limited Liability Company owns 791,589 shares or 0.19% of their US portfolio. Moreover, Verition Fund Management Ltd Llc has 0.02% invested in Oclaro, Inc. (NASDAQ:OCLR) for 25,000 shares. Stifel Fincl holds 0% of its portfolio in Oclaro, Inc. (NASDAQ:OCLR) for 22,171 shares. Peak6 Invests Lp has invested 0% of its portfolio in Oclaro, Inc. (NASDAQ:OCLR). Waddell And Reed Fincl has invested 0.02% of its portfolio in Oclaro, Inc. (NASDAQ:OCLR).
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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