Finisar (FNSR) Misses Q1 EPS by 3c; Q2 Guidance Falls Short; CEO Gertel Resigns

Piper Jaffray Cuts Price Target on Finisar (FNSR) Following 1Q EPS Beat

Piper Jaffray reiterated an Overweight rating on Finisar (NASDAQ: FNSR), and cut the price target to $20.00 (from $26.00), following the company's 1Q16 earnings results. FNSR reported revenue of $314.0M, below consensus estimates of $318.7M. Non-GAAP EPS of $0.23 was $0.03 below Street expectations.

Analyst Troy Jensen commented,... More

B. Riley Downgrades Finisar (FNSR) to Neutral

B. Riley downgraded Finisar (NASDAQ: FNSR) from Buy to Neutral with a price target of $16.75 (from $27.00).

For an analyst ratings summary and ratings history on Finisar click here. For more ratings news on Finisar click here.

Shares of Finisar closed at $14.91 yesterday.

UPDATE: MKM Partners Downgrades Finisar (FNSR) to Neutral on Datacom Competitive Concerns

(Updated - September 11, 2015 10:51 AM EDT)

MKM Partners downgraded Finisar (NASDAQ: FNSR) from Buy to Neutral with a price target of $15.50 (from $25.50). The change follows Q1 results and guidance. Analyst Michael Genoves pointed out continued deterioration in the datacom competitive environment.

"We are downgrading FNSR to Neutral from Buy, after soft earnings and guidance, because the Datacom components competitive and pricing environments continue to get worse. We... More

Needham & Company Cuts Price Target on Finisar (FNSR) Following 1Q16

Needham & Company maintained a Buy rating on Finisar (NASDAQ: FNSR), and cut the price target to $18.00 (from $25.00), following the the company's 1Q16. FNSR's CEO announced his resignation, and Chairman Rawls announced he will take the CEO role until a replacement can be... More

Finisar (FNSR) CEO Gertel Resigns

Finisar (NASDAQ: FNSR) announced that its Board of Directors had accepted the resignation of Chief Executive Officer and director Eitan Gertel. Jerry Rawls, the Company's Executive Chairman, will continue to serve as principal executive and will also assume the title of Chief... More

Finisar (FNSR) CEO Departs

Finisar Corporation (NASDAQ: FNSR), a global technology leader for subsystems and components for fiber optic communications, today announced that its Board of Directors had accepted the resignation of Chief Executive Officer and director Eitan Gertel. Jerry Rawls, the Company's Executive Chairman, will continue... More