Finisar Corporation (FNSR) is Reiterated by Needham to Buy, Raises Price Target to $ 28

Finisar Corporation (FNSR) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 28 from a previous price target of $24 . Needham advised their investors in a research report released on Sep 6, 2016.

Many Wall Street Analysts have commented on Finisar Corporation. Stifel Upgraded Finisar Corporation on Sep 6, 2016 to ” Buy”, Price Target of the shares are set at $28.Company shares were Reiterated by Needham on Jun 17, 2016 to “Buy”, Firm has raised the Price Target to $ 24 from a previous price target of $22 .Company shares were Reiterated by MKM Partners on Jun 17, 2016 to “Neutral”, Firm has raised the Price Target to $ 21 from a previous price target of $19 .

On the company’s financial health, Finisar Corporation reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jun 16, 2016. Analyst had a consensus of $0.25. The company had revenue of $318.80 million for the quarter, compared to analysts expectations of $317.88 million. The company’s revenue was down -.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

Finisar Corporation opened for trading at $21.26 and hit $22.2 on the upside on Thursday, eventually ending the session at $22.01, with a gain of 3.92% or 0.83 points. The heightened volatility saw the trading volume jump to 23,46,758 shares. Company has a market cap of $2,371 M.

In a different news, on Sep 2, 2016, Joseph A Young (EVP Global Operations) sold 5,545 shares at $21.90 per share price. According to the SEC, on Aug 23, 2016, Mark Colyar (GM & SVP Engineering) sold 39,225 shares at $20.75 per share price. On Aug 17, 2016, Julie Sheridan Eng (EVP Datacom Engineering) sold 178 shares at $20.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters receivers transceivers transponders optical engines and active optical cables that provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in communication networks including the switches routers and servers used in wireline networks as well as the antennas and base stations used in wireless networks. These products rely on the use of semiconductor lasers and photodetectors in conjunction with integrated circuits and optoelectronic packaging to provide a means for transmitting and receiving digital signals over fiber optic cable at speeds ranging from less than one gigabit per second to more than 100 gigabits per second over distances of less than 10 meters to more than 2000 kilometers.

Finisar Corporation

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