Five Cheap Tech Stocks to Buy Now

Page 5 of 5

Oclaro, Inc. (NASDAQ:OCLR)

Oclaro, Inc. (NASDAQ:OCLR) has been in the news recently amid several analyst firms upping their price targets on the stock following the release of its upbeat second quarter results. The company earned EPS of $0.21 on $153.9 million in revenue for the quarter, above the Street’s forecasts of $0.18 and $153.52 million respectively. For its fiscal third quarter of 2017, the company expects revenue of $156-164 million, versus the consensus of $146 million.

Needham & Company recently said in a report that Oclaro shares have “exceptional value”. The firm has a price target of $14 on Oclaro shares, which represents greater than 40% upside. Earlier this month, Piper Jaffray analyst Troy Jensen said in a report that Oclaro has several catalysts, including a possible settlement with ZTE Corp, favorable commentary coming at the industry trade show OFC, and another quarter of “flawless execution”. The firm has a price target of $15 on the stock.

Alex Sacerdote’s Whale Rock Capital Management owns 5.65 million shares of Oclaro, Inc. (NASDAQ:OCLR) as of the end of the fourth quarter of 2016, one of the 40 hedge funds in our system to own the stock at that time.

Follow Oclaro Inc. (NASDAQ:OCLR)

Disclosure: None

Page 5 of 5