Shares of Finisar Corporation (NASDAQ:FNSR) have been assigned a consensus rating of “Buy” from the nineteen analysts that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $32.50.
Several analysts have recently issued reports on FNSR shares. William Blair reissued an “outperform” rating on shares of Finisar Corporation in a report on Thursday, September 14th. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and set a $32.00 target price (down from $37.00) on shares of Finisar Corporation in a report on Friday, September 8th. MKM Partners reissued a “buy” rating and set a $31.00 target price (down from $33.00) on shares of Finisar Corporation in a report on Monday, September 11th. Piper Jaffray Companies reissued a “buy” rating and set a $26.00 target price on shares of Finisar Corporation in a report on Sunday, September 17th. Finally, Northland Securities reissued a “buy” rating and set a $40.00 target price on shares of Finisar Corporation in a report on Friday, July 28th.
In other Finisar Corporation news, Director Roger C. Ferguson sold 2,726 shares of the stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $21.46, for a total value of $58,499.96. Following the completion of the transaction, the director now directly owns 44,034 shares in the company, valued at $944,969.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jerry S. Rawls sold 20,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total value of $457,800.00. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. raised its position in Finisar Corporation by 103.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock valued at $127,000 after purchasing an additional 2,912 shares during the last quarter. Fortaleza Asset Management Inc. bought a new position in Finisar Corporation in the second quarter valued at about $138,000. PNC Financial Services Group Inc. raised its position in Finisar Corporation by 43.9% in the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,805 shares during the last quarter. Cheyne Capital Management UK LLP bought a new position in Finisar Corporation in the third quarter valued at about $155,000. Finally, Cubist Systematic Strategies LLC raised its position in Finisar Corporation by 598.3% in the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after purchasing an additional 6,001 shares during the last quarter. Hedge funds and other institutional investors own 88.71% of the company’s stock.
Finisar Corporation (NASDAQ FNSR) opened at $19.26 on Monday. The company has a quick ratio of 6.24, a current ratio of 7.66 and a debt-to-equity ratio of 0.44. Finisar Corporation has a 1-year low of $17.80 and a 1-year high of $36.85. The company has a market capitalization of $2,190.00, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.33 and a beta of 1.19.
Finisar Corporation (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The firm had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. During the same period in the prior year, the firm posted $0.38 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. equities research analysts predict that Finisar Corporation will post 1.05 earnings per share for the current year.
Finisar Corporation Company Profile
Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks.
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