Oclaro, Inc. (OCLR) Upgraded to Hold at BWS Financial

Oclaro, Inc. (OCLR) has been upgraded today by the securities research analysts at investment firm BWS Financial which raised Oclaro from a “sell” rating to “hold.”  BWS did not provide a price target for OCLR, however, they did note that the optics industry that the company conducts business within is in a down period overall.  Furthermore, BWS places the hold on OCLR as they reanalyze the industry and weigh entry points before placing a new rating on shares of Oclaro.

OCLR definitely is in a rough period as noted by BWS — shares have been on the downturn since descending under intermediate support on March 9th, 2011, and proceeded to gap south the next trading day.  Shares did enter a period of consolidation from late March through mid May, however, the overall trend contends with bearish bias.

Oclaro is slated to release their next earnings report on July 28th, 2011, and the current consensus EPS estimate is expected to be negative 14 cents.  Oclaro’s last earnings report was released on April 28th, 2011, and announced negative EPS of 8 cents with revenue totaling $116.6 million which was up 15.2 % year to year.  OCLR is currently trading below its 50 & 200-day moving averages and 2011 is currently a down year for the company.

Oclaro, Inc. is a provider of high-performance core optical network components, modules and subsystems to global telecommunications (“telecom”) equipment manufacturers.  The company has market capitalization of $307,143,300 and 49,942,000 shares outstanding.  OCLR has a 52-week high of $18.95 with the low being $6.47 dollars.

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