Analyst at Citigroup, Inc’s (NYSE: C) equities research division reiterated its “hold” rating on shares of Finisar Corp (NASDAQ: FNSR), with a price target of $19.00, up from $17.00.
Finisar Corporation (Finisar) is a provider of optical subsystems and components that connect short-distance local area networks (LANs), and storage area networks (SANs), and longer distance metropolitan area networks (MANs) fiber-to-the-home networks (FTTx), cable television networks (CATV) and wide area networks (WANs). The Company’s optical subsystems consist primarily of transmitters, receivers, transceivers and transponders, which provide the fundamental optical-electrical interface for connecting the equipment used in building these networks, including switches, routers and file servers used in wireline networks as well as antennas and base stations for wireless networks. On July 15, 2009, the Company consummated the sale of substantially all of the assets of the Network Tools Division to JDS Uniphase Corporation (JDSU).
Shares of Finisar (NADSAQ: FNSR) traded up 14.62% during mid-day trading on Friday, hitting $15.60.
