Finisar Corporation (FNSR) is Reiterated by Needham to Buy, Raises Price Target to $ 36

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 $ 36 from a previous price target of $32 . Needham advised their investors in a research report released on Sep 19, 2016.

Many Wall Street Analysts have commented on Finisar Corporation. Company shares were Reiterated by Needham on Sep 19, 2016 to “Buy”, Firm has raised the Price Target to $ 36 from a previous price target of $32 .Company shares were Reiterated by Stifel on Sep 9, 2016 to “Buy”, Firm has raised the Price Target to $ 33 from a previous price target of $28 .Company shares were Upgraded by MKM Partners on Sep 9, 2016 to ” Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $21 .

On the company’s financial health, Finisar Corporation reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Sep 8, 2016. Analyst had a consensus of $0.30. The company had revenue of $341.30 million for the quarter, compared to analysts expectations of $333.66 million. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS.

Finisar Corporation closed down -0.02 points or -0.07% at $28.2 with 2,619,574 shares getting traded on Friday. Post opening the session at $27.95, the shares hit an intraday low of $27.77 and an intraday high of $28.29 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Sep 16, 2016, Christopher Brown (EVP & Chief Counsel) sold 8,400 shares at $28.50 per share price. According to the SEC, on Sep 16, 2016, Joseph A Young (EVP Global Operations) sold 103,323 shares at $27.76 per share price. On Sep 15, 2016, John H Clark (EVP & Chief Technology Officer) sold 17,325 shares at $26.97 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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