Today’s Rating On Watch: Needham Gives Finisar Corporation (NASDAQ:FNSR) a “Strong Buy” Rating. The Target Price per Share is $42.00

November 28, 2016 - By Richard Conner

Today's Rating On Watch:  Needham Gives Finisar Corporation (NASDAQ:FNSR) a

Finisar Corporation (NASDAQ:FNSR) Upgrade

Finisar Corporation (NASDAQ:FNSR)‘s rating was boosted by research analysts at Needham from a “Buy” rating to a “Strong Buy” rating in a analysts note issued to clients on Monday, 28 November. The firm from today has a $42.00 target price on the stock. Needham’s target price gives a potential upside of 23.02%.

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 -31.05% below today’s ($34.01) stock price. Finisar Corporation has been the topic of 31 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The stock of Finisar Corporation (NASDAQ:FNSR) earned “Buy” rating by Stifel Nicolaus on Tuesday, September 6. The rating was maintained by Jefferies on Friday, June 17 with “Hold”. The stock of Finisar Corporation (NASDAQ:FNSR) has “Buy” rating given on Friday, September 9 by M Partners. The stock of Finisar Corporation (NASDAQ:FNSR) earned “Buy” rating by Needham on Friday, September 11. The rating was downgraded by RBC Capital Markets on Wednesday, September 9 to “Sector Perform”. The rating was upgraded by Goldman Sachs on Tuesday, October 11 to “Buy”. On Friday, March 11 the stock rating was upgraded by Craig Hallum to “Buy”. The firm earned “Buy” rating on Monday, October 31 by Needham. The company was maintained on Monday, September 19 by Needham. The stock of Finisar Corporation (NASDAQ:FNSR) earned “Outperform” rating by William Blair on Friday, September 9.

About 2.26M shares traded hands or 52.70% 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 EPS, up 123.53% or $0.21 from last year’s $0.17 per share. FNSR’s profit will be $41.68M for 22.38 P/E if the $0.38 EPS becomes a reality. After $0.27 actual EPS 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 2016 Q2. Its up 0.16, from 1.54 in 2016Q1. The ratio increased, 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.

Checchi Advisers Limited Liability Company owns 1,163 shares or 0% of their US portfolio. Aqr Cap Mngmt Ltd Company reported 158,040 shares or 0% of all its holdings. Credit Suisse Ag holds 0% of its portfolio in Finisar Corporation (NASDAQ:FNSR) for 193,012 shares. Virginia Retirement Et Al holds 0.01% of its portfolio in Finisar Corporation (NASDAQ:FNSR) for 31,800 shares. Quentec Asset Management has invested 2.3% of its portfolio in Finisar Corporation (NASDAQ:FNSR). Ubs Asset Management Americas has 75,410 shares for 0% of their US portfolio. Blackrock Advisors Ltd Liability Corp accumulated 0% or 50,434 shares. Advisory Ser Networks Ltd has invested 0.01% of its portfolio in Finisar Corporation (NASDAQ:FNSR). Rhumbline Advisers accumulated 129,113 shares or 0.01% of the stock. The Texas-based King Luther Capital Management Corporation has invested 0% in Finisar Corporation (NASDAQ:FNSR). Goldman Sachs Group Inc accumulated 429,646 shares or 0% of the stock. Brick And Kyle Associates reported 1,200 shares or 0.02% of all its holdings. Chicago Equity Ltd Llc has invested 0.01% of its portfolio in Finisar Corporation (NASDAQ:FNSR). Driehaus Capital Mngmt Ltd Liability Com holds 0.02% of its portfolio in Finisar Corporation (NASDAQ:FNSR) for 27,520 shares. D E Shaw And Company has invested 0.03% of its portfolio in Finisar Corporation (NASDAQ:FNSR).

Insider Transactions: Since July 21, 2016, the stock had 0 insider purchases, and 25 selling transactions for $8.84 million net activity. Colyar Mark also sold $147,904 worth of Finisar Corporation (NASDAQ:FNSR) shares. 5,887 Finisar Corporation (NASDAQ:FNSR) shares with value of $117,740 were sold by Brown Christopher. Swanson Todd also sold $177,947 worth of Finisar Corporation (NASDAQ:FNSR) on Monday, October 17. Young Joseph A sold $121,436 worth of Finisar Corporation (NASDAQ:FNSR) on Thursday, September 1. On Tuesday, September 20 the insider RAWLS JERRY S sold $857,532. $467,254 worth of Finisar Corporation (NASDAQ:FNSR) shares were sold by CLARK JOHN H. The insider Eng Julie Sheridan sold $97,322.

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 $3.73 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 66.87 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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