Finisar (NASDAQ:FNSR)‘s stock had its “hold” rating reaffirmed by stock analysts at Barclays in a report released on Wednesday. They presently have a $18.00 target price on the technology company’s stock. Barclays’ price objective would suggest a potential downside of 6.74% from the stock’s previous close.
A number of other analysts also recently commented on FNSR. B. Riley reiterated a “buy” rating and issued a $30.75 target price on shares of Finisar in a report on Tuesday, September 12th. BidaskClub upgraded shares of Finisar from a “strong sell” rating to a “sell” rating in a report on Tuesday. William Blair reiterated a “buy” rating on shares of Finisar in a report on Friday, December 8th. Northland Securities set a $29.00 target price on shares of Finisar and gave the stock a “buy” rating in a report on Friday, December 8th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $22.00 target price on shares of Finisar in a report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Finisar currently has a consensus rating of “Buy” and an average price target of $27.42.
Shares of Finisar (NASDAQ:FNSR) opened at $19.30 on Wednesday. The company has a quick ratio of 6.31, a current ratio of 7.81 and a debt-to-equity ratio of 0.44. Finisar has a fifty-two week low of $17.20 and a fifty-two week high of $36.41. The company has a market cap of $2,083.22, a P/E ratio of 14.27, a P/E/G ratio of 1.31 and a beta of 1.14.
Finisar (NASDAQ:FNSR) last released its earnings results on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The business had revenue of $332.21 million for the quarter, compared to the consensus estimate of $331.69 million. analysts predict that Finisar will post 1.02 earnings per share for the current fiscal year.
In related news, Director Roger C. Ferguson sold 2,726 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 44,034 shares of the company’s stock, valued at $944,969.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jerry S. Rawls sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total transaction of $457,800.00. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FNSR. Ladenburg Thalmann Financial Services Inc. grew its position in Finisar by 103.4% during 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 in the last quarter. Fortaleza Asset Management Inc. purchased a new position in Finisar during the second quarter valued at approximately $138,000. PNC Financial Services Group Inc. grew its position in Finisar by 43.9% during 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 in the last quarter. Cubist Systematic Strategies LLC grew its position in Finisar by 598.3% during 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 in the last quarter. Finally, Cheyne Capital Management UK LLP purchased a new position in Finisar during the third quarter valued at approximately $155,000. 91.45% of the stock is currently owned by hedge funds and other 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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