JDSU (JDSU) calls it reverse-split time.
The San Jose, Calif., optical parts maker says holders will get one share for every eight shares they hold on Oct. 16. The move comes just 21 months after the company's board approved the so-called share consolidation.
The reverse split will cut the number of shares outstanding to a mere 211 million from 1.7 billion today.
JDSU says the reduction is intended to "enhance investors' visibility into the company's profitability on a per share basis." The fewer shares, and subsequent higher stock price, may broaden JDSU's appeal to investors and reduce administrative costs, the company says.
Shares of JDSU have fallen by half since April as investors fled many of the optical networking component stocks like rivals
JDSU rose a dime to $2.25 in after-hours trading Thursday.