Finisar Posted Weak 3Q Results and 4Q Guidance on Continued Softness in Telecom; Lowering FVE to $27
Finisar disappointed in the January quarter, as revenue and margin both came in lower than we expected. Telecom revenue continues to drop at a fast pace, along with declines in low-speed Datacom optics, offsetting growth seen in 100G optics and 3D sensing lasers. As we bake in the firm’s weak guidance, we are lowering our fair value estimate to $27 per share, down from $30. We still consider the shares of this no-moat name undervalued.Total revenue was $332 million in the quarter, almost flat c...
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.
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