Oclaro (OCLR) Delivers Upbeat Presentation at Needham Growth Conference - Analyst

Needham & Company analyst Alex Henderson reiterated a Strong Buy rating and $14 price target Oclaro (NASDAQ: OCLR) after the CEO and CFO delivered an upbeat presentation to a packed room at the Needham Growth Conference.

Henderson commented, "The company is schedule to report December quarter at the end of January and did not provide updates on guidance. Oclaro is the market leader in 100G and above fiber optics that continues to benefit from the 100G super cycle. Particularly, Oclaro is the only volume producer for ACO CFP100G/200G products, producing thousands of units on a quarterly basis with its closest competitor producing only ~100 units quarterly. Financially, the company has been growing substantially both in terms of revenue and gross margin. For September quarter, revenue grew 55% y/y to $135MM and gross margin doubled y/y. Operating income has also improved from break-even in F1Q16 to 15% in F1Q17, driven by both revenue growth and operating leverage."

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 $8.27 yesterday.

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