Shares of Finisar Co. (NASDAQ:FNSR) traded down 6.4% during trading on Thursday . The company traded as low as $18.60 and last traded at $18.82. 6,981,617 shares changed hands during trading, an increase of 59% from the average session volume of 4,397,008 shares. The stock had previously closed at $20.10.
A number of analysts have recently commented on the stock. Raymond James Financial set a $22.00 target price on shares of Finisar and gave the stock a “buy” rating in a research note on Wednesday, December 13th. ValuEngine upgraded shares of Finisar from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Craig Hallum set a $28.00 price target on shares of Finisar and gave the stock a “buy” rating in a research report on Thursday, December 14th. Goldman Sachs lowered shares of Finisar from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $22.74 to $16.00 in a research report on Monday, January 15th. Finally, Barclays set a $25.00 price target on shares of Finisar and gave the stock a “hold” rating in a research report on Thursday, January 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $24.56.
The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29. The company has a market cap of $2,158.56, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 2.75 and a beta of 1.02.
Finisar (NASDAQ:FNSR) last posted its earnings results on Thursday, March 8th. The technology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The firm had revenue of $332.40 million during the quarter, compared to analyst estimates of $333.15 million. Finisar had a net margin of 7.35% and a return on equity of 5.97%. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share. sell-side analysts expect that Finisar Co. will post 0.49 earnings per share for the current fiscal year.
In other Finisar news, Director Roger C. Ferguson sold 3,000 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $21.68, for a total value of $65,040.00. Following the transaction, the director now directly owns 41,034 shares in the company, valued at approximately $889,617.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kurt Adzema sold 20,025 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $22.15, for a total transaction of $443,553.75. The disclosure for this sale can be found here. Insiders sold a total of 56,392 shares of company stock worth $1,119,833 over the last quarter. 1.02% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. boosted 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. Cubist Systematic Strategies LLC lifted its holdings in shares of Finisar by 598.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after acquiring an additional 6,001 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of Finisar in the 4th quarter worth approximately $158,000. Janney Montgomery Scott LLC acquired a new position in shares of Finisar in the 3rd quarter worth approximately $217,000. Finally, Aperio Group LLC acquired a new position in shares of Finisar in the 4th quarter worth approximately $231,000. Institutional investors own 94.03% 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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