NEW YORK (

TheStreet

) --

Oclaro

(Nasdaq:

OCLR

) hit a new 52-week high Thursday as it traded at $17.70 compared with its previous 52-Week high of $17.45. Oclaro is changing hands at $17.60 with 1.4 million shares traded as of 10:22 a.m. ET. Average volume has been one million shares over the past 30 days.

Oclaro has a market cap of $759.1 million and is part of the

technology

sector and

electronics

industry. Shares are up 23.1% year to date as of the close of trading on Wednesday.

Oclaro, Inc. designs, manufactures, and markets optical components, modules, and subsystems that generate, detect, amplify, combine, and separate light signals in telecommunications networks. The company has a P/E ratio of 58.5, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 22.7.

TheStreet Ratings rates Oclaro as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow and poor profit margins. You can view the full

Oclaro Ratings Report

.

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