ValuEngine lowered shares of Finisar (NASDAQ:FNSR) from a buy rating to a hold rating in a report issued on Wednesday, January 3rd.
FNSR has been the subject of a number of other research reports. Piper Jaffray Companies reissued a buy rating and issued a $22.00 price objective on shares of Finisar in a research report on Friday, December 8th. Zacks Investment Research cut Finisar from a hold rating to a sell rating in a research report on Wednesday, December 13th. Needham & Company LLC restated a strong-buy rating and issued a $34.00 target price (down previously from $44.00) on shares of Finisar in a research note on Friday, September 8th. Craig Hallum restated a buy rating on shares of Finisar in a research note on Tuesday, January 2nd. Finally, William Blair restated an ourperform rating on shares of Finisar in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Buy and an average target price of $28.82.
Shares of Finisar (FNSR) traded up $0.53 during midday trading on Wednesday, hitting $22.26. The stock had a trading volume of 2,148,959 shares, compared to its average volume of 5,940,000. Finisar has a 12-month low of $17.20 and a 12-month high of $36.41. The stock has a market capitalization of $2,540.00, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 2.12 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.31 and a current ratio of 7.81.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $332.21 million for the quarter, compared to analysts’ expectations of $331.69 million. Finisar had a return on equity of 9.51% and a net margin of 14.33%. research analysts expect that Finisar will post 0.73 EPS for the current year.
In other news, CFO Kurt Adzema sold 20,025 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $22.15, for a total transaction of $443,553.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Jerry S. Rawls sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was 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. Over the last quarter, insiders sold 52,369 shares of company stock worth $1,189,715. 1.02% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position in shares of Finisar by 2.7% during the 2nd quarter. Capital Research Global Investors now owns 13,651,050 shares of the technology company’s stock valued at $354,654,000 after buying an additional 359,709 shares during the period. Vanguard Group Inc. raised its position in shares of Finisar by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock valued at $231,435,000 after buying an additional 208,692 shares during the period. Dimensional Fund Advisors LP raised its position in Finisar by 10.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock valued at $107,146,000 after purchasing an additional 471,882 shares during the period. Northern Trust Corp raised its position in Finisar by 3.8% in the second quarter. Northern Trust Corp now owns 2,907,058 shares of the technology company’s stock valued at $75,525,000 after purchasing an additional 107,680 shares during the period. Finally, DnB Asset Management AS raised its position in Finisar by 22.9% in the fourth quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock valued at $45,758,000 after purchasing an additional 419,120 shares during the period. 91.21% of the stock is currently owned by hedge funds and other institutional investors.
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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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