Needham Reiterates a Buy Rating on Finisar Corp.

By Ryan Adsit

In a report released today, Alex Henderson from Needham reiterated a Buy rating on Finisar Corp. (NASDAQ: FNSR), with a price target of $38. The company’s shares closed last Friday at $27.57.

According to TipRanks.com, Henderson is a 5-star analyst with an average return of 7.5% and a 49.8% success rate. Henderson covers the Technology sector, focusing on stocks such as Riverbed Technology, Ceragon Networks, and Extreme Networks.

Finisar Corp. has an analyst consensus of Strong Buy, with a price target consensus of $34.25.

Finisar Corp.’s market cap is currently $3.04B and has a P/E ratio of 54.06. The company has a book value ratio of 2.5436.

Based on the recent corporate insider activity of 54 insiders, corporate insider sentiment is negative on the stock. Last month, John H. Clark, a the Exective VP Technology & R&D of FNSR sold 11,265 shares for a total of $334,796.

Finisar Corp. provides optical subsystems and components that are used in data communication and telecommunication applications. Its optical subsystems consist primarily of transmitters, receivers, transceivers, transponders and active optical cables that provide the fundamental optical-electrical, or optoelectronic, interface for interconnecting the electronic equipment used in building these networks, including the switches, routers and servers used in wire line networks as well as the antennas and base stations for wireless networks. Finisar was founded by Frank H. Levinson and Jerry S. Rawls in April 1987 and is headquartered in Sunnyvale, CA.