Rating Worth Mentioning: Needham Says Its Time To Upgrade Finisar (NASDAQ:FNSR)

November 28, 2016 - By Marie Mckinney

Rating Worth Mentioning:  Needham Says Its Time To Upgrade Finisar (NASDAQ:FNSR)

Finisar (NASDAQ:FNSR) Upgrade

In a a report made public on Monday, 28 November, Needham increased shares of Finisar (NASDAQ:FNSR) to a “Strong Buy” rating from “Buy” rating.

Finisar Corporation (NASDAQ:FNSR) Ratings Coverage

Out of 13 analysts covering Finisar Corporation (NASDAQ:FNSR), 9 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 69% are positive. $38 is the highest target while $13.25 is the lowest. The $23.45 average target is -31.25% below today’s ($34.11) stock price. Finisar Corporation has been the topic of 31 analyst reports since August 18, 2015 according to StockzIntelligence Inc. B. Riley & Co maintained the shares of FNSR in a report on Friday, March 11 with “Buy” rating. The company was maintained on Friday, June 17 by Barclays Capital. Needham maintained Finisar Corporation (NASDAQ:FNSR) rating on Monday, September 19. Needham has “Buy” rating and $36 price target. The rating was maintained by Barclays Capital with “Equal Weight” on Friday, September 9. Needham maintained Finisar Corporation (NASDAQ:FNSR) rating on Tuesday, September 6. Needham has “Buy” rating and $28 price target. The company was maintained on Friday, June 17 by Needham. The company was maintained on Monday, September 12 by Stifel Nicolaus. M Partners upgraded Finisar Corporation (NASDAQ:FNSR) on Friday, September 9 to “Buy” rating. On Friday, September 11 the stock rating was maintained by Barclays Capital with “Overweight”. RBC Capital Markets downgraded it to “Sector Perform” rating and $17 target price in Wednesday, September 9 report.

About 2.03M shares traded hands or 37.16% up from the average. Finisar Corporation (NASDAQ:FNSR) has risen 89.47% since April 25, 2016 and is uptrending. It has outperformed by 83.46% the S&P500.

Analysts await Finisar Corporation (NASDAQ:FNSR) to report earnings on December, 8 after the close. They expect $0.38 earnings per share, up 123.53% or $0.21 from last year’s $0.17 per share. FNSR’s profit will be $41.67M for 22.44 P/E if the $0.38 EPS becomes a reality. After $0.27 actual earnings per share reported by Finisar Corporation for the previous quarter, Wall Street now forecasts 40.74% EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.7 in Q2 2016. Its up 0.16, from 1.54 in 2016Q1. The ratio is positive, as 22 funds sold all Finisar Corporation shares owned while 46 reduced positions. 32 funds bought stakes while 73 increased positions. They now own 99.67 million shares or 1.76% more from 97.95 million shares in 2016Q1.

Rainier Invest Ltd Liability Com holds 0.28% or 336,990 shares in its portfolio. Checchi Cap Advisers Limited Liability Co reported 1,163 shares or 0% of all its holdings. The United Kingdom-based Rwc Asset Management Limited Liability Partnership has invested 0.4% in Finisar Corporation (NASDAQ:FNSR). State Of New Jersey Common Pension Fund D has 0.02% invested in the company for 200,000 shares. Renaissance Technologies Lc holds 3.17 million shares or 0.11% of its portfolio. Nuveen Asset Management Ltd Liability Com last reported 203,807 shares in the company. The Connecticut-based Paloma Prtnrs Mgmt has invested 0.01% in Finisar Corporation (NASDAQ:FNSR). Moreover, Voya Investment Ltd Liability Co has 0% invested in Finisar Corporation (NASDAQ:FNSR) for 45,616 shares. Deere And holds 0.06% or 65,728 shares in its portfolio. Ao Asset Mgmt Limited Liability accumulated 5.17% or 1.13 million shares. Quentec Asset Management Ltd Co, a New York-based fund reported 1.06M shares. Paradigm accumulated 501,450 shares or 1.07% of the stock. Legal & General Gru Plc has 24,405 shares for 0% of their US portfolio. Jane Street Gru Limited Liability Co accumulated 16,831 shares or 0% of the stock. Ladenburg Thalmann Fincl Services last reported 479 shares in the company.

Insider Transactions: Since July 21, 2016, the stock had 0 buys, and 25 selling transactions for $8.84 million net activity. Young Joseph A sold 6,690 shares worth $139,821. On Monday, August 15 the insider Brown Christopher sold $117,740. The insider CLARK JOHN H sold 11,265 shares worth $334,826. Colyar Mark sold 4,622 shares worth $147,904. Another trade for 3,240 shares valued at $97,322 was sold by Eng Julie Sheridan. Swanson Todd sold $177,947 worth of Finisar Corporation (NASDAQ:FNSR) on Monday, October 17. $82,880 worth of Finisar Corporation (NASDAQ:FNSR) was sold by FERGUSON ROGER C.

Finisar Corporation is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The company has a market cap of $3.74 billion. The Company’s optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks. It has a 67.08 P/E ratio.

According to Zacks Investment Research, “FINISAR CORP. is a provider of fiber optic subsystems and network test and monitoring systems which enable high-speed data communications over local area networks, or LANs, storage area networks, or SANs, and metropolitan access networks, or MANs. They are focused on the application of digital fiber optics to provide aline of high-performance, reliable, value-added optical subsystems for data networking and storage equipment manufacturers.”

FNSR Company Profile

Finisar Corporation (Finisar), incorporated on October 1, 1999, is a well-known 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 and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these 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 (Gbps), to more than 100 Gbps, over distances of less than 10 meters to more than 2,000 kilometers, using a range of network protocols and physical configurations.

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