Finisar (NASDAQ:FNSR) Given a $26.00 Price Target at Raymond James Financial

Raymond James Financial set a $26.00 target price on Finisar (NASDAQ:FNSR) in a research note released on Tuesday, December 19th. The firm currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. Piper Jaffray Companies boosted their price target on Finisar from $22.00 to $28.00 in a research note on Wednesday, December 13th. B. Riley reissued a buy rating and set a $38.00 price target on shares of Finisar in a research note on Wednesday, September 6th. Stifel Nicolaus reissued a buy rating and set a $30.00 price target (down previously from $33.00) on shares of Finisar in a research note on Tuesday, September 5th. Craig Hallum reissued a buy rating and set a $28.00 price target (down previously from $38.00) on shares of Finisar in a research note on Friday, September 8th. Finally, DA Davidson reaffirmed a buy rating and issued a $40.00 target price on shares of Finisar in a research note on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average price target of $28.82.

Finisar (NASDAQ FNSR) opened at $22.74 on Tuesday. The stock has a market capitalization of $2,590.00, a PE ratio of 12.99, a P/E/G ratio of 2.19 and a beta of 1.15. Finisar has a 52-week low of $17.20 and a 52-week high of $36.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31.

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

In related news, Director Roger C. Ferguson sold 3,000 shares of the stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $21.68, for a total value of $65,040.00. Following the completion of the sale, the director now directly owns 41,034 shares in the company, valued at approximately $889,617.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kurt Adzema sold 20,025 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $22.15, for a total value of $443,553.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,369 shares of company stock valued at $1,189,715. Insiders own 1.02% of the company’s stock.

Large investors have recently bought and sold shares of the business. Ladenburg Thalmann Financial Services Inc. boosted its position 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 buying an additional 2,912 shares during the last quarter. Fortaleza Asset Management Inc. purchased a new position in Finisar in the 2nd quarter valued at about $138,000. PNC Financial Services Group Inc. boosted its position in Finisar by 43.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after buying an additional 1,805 shares during the last quarter. Cheyne Capital Management UK LLP purchased a new position in Finisar in the 3rd quarter valued at about $155,000. Finally, Cubist Systematic Strategies LLC boosted its position in Finisar by 598.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after buying an additional 6,001 shares during the last quarter. 91.21% of the stock is owned by institutional investors.

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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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