Report
Alex Zhao
EUR 98.48 For Business Accounts Only

We are Launching Coverage of Finisar Corporation with a $38 Fair Value Estimate and No-Moat Rating

We are launching coverage of Finisar Corporation with a $38 fair value estimate, a no-moat rating, and stable moat trend. Finisar Corporation is the largest optical component maker with close to one third of market share in industry sales by our estimates. However, the firm has not demonstrated a proven ability to earn excess returns on capital due to sporadic purchasing pattern from customers and a fragmented market structure. Additionally, although 3D sensing in consumer electronics could prov...
Underlying
Finisar Corporation

Finisar is engaged in optical communications, providing components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics and automotive companies. The company's optical subsystems consist primarily of transmitters, receivers, transceivers, transponders and active optical cables, which provide the optical-electrical, or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks as well as the antennas and base stations used in wireless networks. The company also provides products known as wavelength selective switches.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
Alex Zhao

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