Oclaro Inc (NASDAQ:OCLR) Moves Up Smartly

Posted by Kristi Scott October 14, 2013 0 Comment 1190 views

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.

Friday’s trading

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

About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

View all post by Kristi Scott Visit author's website

Write Your Comment