Finisar (NASDAQ:FNSR) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Finisar (NASDAQ:FNSR) from a sell rating to a strong sell rating in a report published on Friday, December 29th.

Several other equities analysts have also recently commented on the stock. Raymond James Financial set a $26.00 target price on shares of Finisar and gave the stock a buy rating in a research report on Tuesday, December 19th. Craig Hallum set a $28.00 target price on shares of Finisar and gave the stock a buy rating in a research report on Thursday, December 14th. ValuEngine raised shares of Finisar from a hold rating to a buy rating in a research report on Thursday, December 14th. Zacks Investment Research cut shares of Finisar from a hold rating to a sell rating in a research report on Wednesday, December 13th. Finally, Piper Jaffray Companies lifted their target price on shares of Finisar from $22.00 to $28.00 in a research report on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Finisar has a consensus rating of Buy and a consensus price target of $28.82.

Finisar (NASDAQ FNSR) opened at $22.74 on Friday. Finisar has a 1 year low of $17.20 and a 1 year high of $36.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.31 and a current ratio of 7.81. The company has a market cap of $2,592.91, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 2.24 and a beta of 1.16.

Finisar (NASDAQ:FNSR) last posted its earnings results on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The firm had revenue of $332.21 million for the quarter, compared to analysts’ expectations of $331.69 million. sell-side analysts forecast that Finisar will post 0.73 earnings per share for the current year.

In related news, Director Roger C. Ferguson sold 3,000 shares of Finisar stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $21.68, for a total value of $65,040.00. Following the completion of 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 can be accessed through this link. Also, EVP Julie Sheridan Eng sold 1,466 shares of Finisar stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $21.70, for a total transaction of $31,812.20. Following the completion of the transaction, the executive vice president now owns 69,150 shares of the company’s stock, valued at $1,500,555. The disclosure for this sale can be found here. Insiders sold a total of 52,369 shares of company stock worth $1,189,715 in the last ninety days. 1.02% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in FNSR. Pinnacle Associates Ltd. purchased a new position in Finisar in the 3rd quarter valued at approximately $28,033,000. Thompson Siegel & Walmsley LLC purchased a new position in Finisar in the 2nd quarter valued at approximately $15,474,000. Hood River Capital Management LLC grew its stake in Finisar by 177.0% in the 2nd quarter. Hood River Capital Management LLC now owns 841,331 shares of the technology company’s stock valued at $21,858,000 after buying an additional 537,600 shares in the last quarter. Artemis Investment Management LLP purchased a new position in Finisar in the 2nd quarter valued at approximately $12,973,000. Finally, Dimensional Fund Advisors LP grew its stake in Finisar by 10.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock valued at $107,146,000 after buying an additional 471,882 shares in the last quarter. Institutional investors and hedge funds own 91.21% of the company’s stock.

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About Finisar

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.

Analyst Recommendations for Finisar (NASDAQ:FNSR)

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