New Rating issued on Finisar Corporation (FNSR): Upgraded by Jefferies to ” Buy”

Finisar Corporation (FNSR) was Upgraded by Jefferies to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their Clients and Investors in a research report released on Mar 15, 2017.

Based on several research reports , Finisar Corporation was Upgraded by Jefferies to ” Buy” on Mar 15, 2017. Finisar Corporation was Upgraded by Raymond James to ” Strong Buy” on Mar 13, 2017. Shares were Reiterated by Stifel on Mar 10, 2017 to “Buy” and Lowered the Price Target to $ 39 from a previous price target of $42 .Finisar Corporation was Upgraded by Northland Capital to ” Outperform” on Dec 19, 2016.

Several company insiders have filed Insider transactions , on Feb 17, 2017, Robert Stephens (director) sold 3,015 shares at $35.74 per share price. According to the SEC, on Feb 17, 2017, Todd Swanson (EVP Sales / Marketing / R&D) sold 6,183 shares at $35.74 per share price. On Feb 14, 2017, Joseph A Young (EVP Global Operations) sold 26,273 shares at $35.40 per share price, according to the Form-4 filing with the securities and exchange commission.

On the company’s financial health, Finisar Corporation reported $0.59 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Mar 9, 2017. Analyst had a consensus of $0.62. The company had revenue of $380.60 million for the quarter, compared to analysts expectations of $389.69 million. The company’s revenue was up 23.1% 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 $26.15 and hit $26.8 on the upside on Wednesday, eventually ending the session at $26.58, with a gain of 3.46% or 0.89 points. The heightened volatility saw the trading volume jump to 87,29,335 shares. Company has a market cap of $2,961 M.

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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