Finisar Reports Strong FQ2:11 Results (FNSR)

Jefferies has published its research report on Finisar

after FNSR posted a strong F2Q:11. In a note to clients, Jefferies writes, "FNSR reported $240.9M rev, up 16% seq. and in-line with our est. ROADM rev grew 27% seq. to $38.8M. LAN/SAN grew 22% seq. to $96.2M, driven by strong transceiver shipments in 10G Ethernet, 100G CFP and 8G fiber channel space. In metro/telecom, 10G+ grew 8% seq. to $69.3M and sub-10G products grew 10% to $33M." Jefferies maintains its Hold rating and $20 price target on FNSR. FNSR closed yesterday at $19.77