BidaskClub cut shares of Finisar (NASDAQ:FNSR) from a sell rating to a strong sell rating in a research note issued to investors on Friday, December 29th.
FNSR has been the topic of several other reports. Zacks Investment Research cut Finisar from a hold rating to a sell rating in a research note on Monday, September 4th. TheStreet lowered Finisar from a b rating to a c+ rating in a research report on Thursday, November 2nd. Piper Jaffray Companies reiterated a buy rating and issued a $30.00 price target (down previously from $32.00) on shares of Finisar in a report on Tuesday, September 5th. Jefferies Group assumed coverage on Finisar in a report on Wednesday, November 1st. They issued a buy rating and a $28.50 price target for the company. Finally, MKM Partners reiterated a buy rating and issued a $31.00 price target (down previously from $33.00) on shares of Finisar in a report on Monday, September 11th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $28.82.
Finisar (NASDAQ:FNSR) opened at $22.74 on Friday. Finisar has a 52-week low of $17.20 and a 52-week high of $36.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. The company has a market capitalization of $2,590.00, a PE ratio of 12.99, a PEG ratio of 2.12 and a beta of 1.15.
Finisar (NASDAQ:FNSR) last issued its earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Finisar had a return on equity of 9.51% and a net margin of 14.33%. The firm had revenue of $332.21 million for the quarter, compared to analysts’ expectations of $331.69 million. sell-side analysts predict that Finisar will post 0.73 EPS for the current fiscal year.
In other Finisar news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark Colyar sold 1,692 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $22.15, for a total transaction of $37,477.80. The disclosure for this sale can be found here. Insiders sold a total of 52,369 shares of company stock worth $1,189,715 over the last ninety days. 1.02% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. increased its holdings in Finisar by 103.4% in the 3rd 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. PNC Financial Services Group Inc. increased its holdings in Finisar by 43.9% in the 2nd 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 acquired a new stake in Finisar in the 3rd quarter valued at approximately $155,000. Cubist Systematic Strategies LLC increased its holdings in Finisar by 598.3% in the 3rd 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. Finally, Koch Industries Inc. acquired a new stake in Finisar in the 2nd quarter valued at approximately $201,000. Institutional investors and hedge funds own 91.21% of the company’s stock.
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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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