William Blair analyst Dmitry Netis maintained a Buy rating on Finisar Corp (NASDAQ: FNSR) today. The company’s shares opened today at $17.70.
According to TipRanks.com, Netis is a 4-star analyst with an average return of 9.8% and a 55.1% success rate. Netis covers the Consumer Goods sector, focusing on stocks such as Ribbon Communications Inc, Acacia Communications, and Juniper Networks.
Currently, the analyst consensus on Finisar Corp is Moderate Buy and the average price target is $21.21, representing a 19.8% upside.
In a report issued on June 11, D.A. Davidson also maintained a Buy rating on the stock with a $22 price target.
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Based on Finisar Corp’s latest earnings release for the quarter ending April 30, the company reported a quarterly GAAP net loss of $18.34 million. In comparison, last year the company had a net profit of $130 million.
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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.
