Finisar Corp Receives a Buy from Northland Securities

By Jason Carr

In a report released yesterday, Tim Savageaux from Northland Securities reiterated a Buy rating on Finisar Corp (NASDAQ: FNSR), with a price target of $40. The company’s shares opened today at $24.21.

According to TipRanks.com, Savageaux is a 1-star analyst with an average return of -2.3% and a 43.3% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Communications Systems, and Acacia Communications.

Currently, the analyst consensus on Finisar Corp is Strong Buy and the average price target is $37.33, representing a 54.2% upside.

In a report issued on August 23, Stifel Nicolaus also reiterated a Buy rating on the stock with a $33 price target.

The company has a one year high of $36.85 and a one year low of $20.89. Currently, Finisar Corp has an average volume of 2.72M.

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Finisar Corp. manufactures and distributes fiber optic subsystems and other electronic components. 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. The company was founded by Frank H. Levinson and Jerry S. Rawls in April 1987 and is headquartered in Sunnyvale, CA.