Finisar Corporation (FNSR) Maintains Overweight Rating

Analysts at Thomas Weisel Partners have released an update on Finisar Corporation (NASDAQ: FNSR).

On Wednesday, Finisar announced pricing of its common offering of 8.64 million shares at $14 per share resulting in gross proceeds of $121 million.

Analysts have lowered their FY11 and FY12 EPS estimate for Finisar. EPS estimate for FY11 has been lowered from $1 to $0.92, while FY12 EPS estimate has been lowered from $1.20 to $1.10. However, analysts have a positive view on the company’s strengthened cash position and balance sheet.

Analysts at Thomas Weisel Partners have maintained their Overweight rating and 12-month price target of $18 for Finisar Corporation.