Oclaro Inc (NASDAQ:OCLR) Moves Up Smartly
Late last week, II-VI Inc. announced that it has now signed an asset-purchase agreement to acquire Oclaro, Inc (NASDAQ:OCLR)’s micro-optics fiber-amplifier division for $88.6M. In a release, the company said that this acquisition will complement Oclaro, Inc (NASDAQ:OCLR)’s semi-conductor laser business that it had acquired in 2013 September. This acquisition is in line with II-VI Inc’s strategy of focusing on precision-engineered materials as well as the opto-electronics component businesses.
In a statement, Francis J. Kramer, II-VI’s President and Chief Executive officer said that Oclaro, Inc (NASDAQ:OCLR)’s business and the team come to them as a prominent industry leader and that they are in a very strategic position with their broad product and technology portfolio, which has more than 400 patents.
In Friday’s trading, Oclaro, Inc (NASDAQ:OCLR) rose by 10.81%. The opening price of the shares was $1.96, which climbed to an intraday high of $2.07 and dipped to a close of $2.05. Approximately 4.40 million shares were traded on Friday while an average volume of 2.27 million shares were traded over a 30 day period. The 52-week low of Oclaro, Inc (NASDAQ:OCLR) shares is $0.88 and its 52-week high is $2.30. The company has a market capitalization of $190.39
About the company
Oclaro, Inc (NASDAQ:OCLR) is a provider of optical-communications and laser-components, subsystems and modules for a variety of markets such as telecommunications, scientific, industrial, consumer-electronics and medical. Oclaro, Inc (NASDAQ:OCLR)’s product offerings include tunable-laser, lithium-niobate external modulators, pump-laser chips, thin-film filters, and amplifiers.
Oclaro, Inc (NASDAQ:OCLR) is involved in designing, manufacturing and marketing optical-components, subsystems and modules that generate, amplify, detect, combine as well as separate light-signals in telecom networks. On 23 July 2012, it acquired Opnext, Inc. Oclaro, Inc (NASDAQ:OCLR) targets telecom-equipment manufacturers that integrate the company’s optical-technology into the systems that is offered by it, to the telecom-carriers that build, upgrade and operate optical-networks