Needham & Company Reiterates Buy on Oclaro (OCLR) on Steady Progress

Needham & Company reiterated a Buy rating and $3.75 price target on Oclaro (NASDAQ: OCLR) as the company continues to make solid steady progress. OCLR claims to have rock solid confidence that it can ramp the chips and now is confident that it has mastered the packaging. They are 95% confident the ramp is on schedule.

Analyst Alex Henderson commented, "OCLR continues to make solid steady progress. It is poised to ramp its ACO 100/200G and should be first to market by a solid period of time. OCLR claims to have rock solid confidence that it can ramp the chips and now is confident that it has mastered the packaging. They are 95% confident the ramp is on schedule. In our opinion, this is very significant. This new product should be able to ramp to $3MM plus in the CY4Q, $5-$10MM in CY1Q and $10MM plus in CY2Q once the China production hits stride. We think it could easily reach $15MM per quarter in 4-6 quarters. Beyond the ACO pluggable, they are also making solid progress on improving GMS, growing their Telecom lines, and growing their Data Comm business. We strongly reiterate our Buy rating and $3.75 Target Price."

For an analyst ratings summary and ratings history on Oclaro click here. For more ratings news on Oclaro click here.

Shares of Oclaro closed at $2.36 yesterday.

You May Also Be Interested In

• Morgan Stanley Upgrades Macquarie Group Ltd. (MQG:AU) (MQBKY) to Overweight
• Evercore ISI Starts GE Vernova (GEV) at Outperform
• TScan Therapeutics, Inc (TCRX) Announces Pricing of Upsized $150 Million Public Offering