Finisar (NASDAQ:FNSR) had its price objective cut by B. Riley from $22.00 to $20.00 in a report released on Friday morning, MarketBeat Ratings reports. They currently have a neutral rating on the technology company’s stock.
Several other research firms also recently commented on FNSR. DA Davidson reiterated a buy rating and issued a $40.00 price target on shares of Finisar in a research report on Thursday, September 7th. ValuEngine downgraded shares of Finisar from a buy rating to a hold rating in a research report on Friday, September 1st. 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 research report on Tuesday, September 5th. Northland Securities set a $40.00 price target on shares of Finisar and gave the company a buy rating in a research report on Tuesday, August 29th. Finally, TheStreet downgraded shares of Finisar from a b rating to a c+ rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $27.95.
Shares of Finisar (FNSR) opened at $18.27 on Friday. The firm has a market cap of $2,080.00, a P/E ratio of 14.27, a PEG ratio of 1.31 and a beta of 1.14. The company has a current ratio of 7.66, a quick ratio of 6.24 and a debt-to-equity ratio of 0.44. Finisar has a 12-month low of $17.20 and a 12-month high of $36.85.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $332.21 million during the quarter, compared to the consensus estimate of $331.69 million. Finisar had a net margin of 14.33% and a return on equity of 9.68%. research analysts expect that Finisar will post 1.02 earnings per share for the current fiscal year.
In other Finisar news, Chairman Jerry S. Rawls sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total value of $457,800.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roger C. Ferguson sold 2,726 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $21.46, for a total transaction 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 disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Fortaleza Asset Management Inc. acquired a new position in shares of Finisar during the 2nd quarter worth $138,000. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of Finisar by 103.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after purchasing an additional 2,912 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Finisar by 43.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock worth $153,000 after purchasing an additional 1,805 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of Finisar by 598.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after purchasing an additional 6,001 shares during the period. Finally, Westside Investment Management Inc. grew its stake in shares of Finisar by 33.3% during the 2nd quarter. Westside Investment Management Inc. now owns 8,000 shares of the technology company’s stock worth $218,000 after purchasing an additional 2,000 shares during the period. 91.45% of the stock is currently owned by institutional investors.
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Finisar 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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