Finisar (NASDAQ:FNSR) has been assigned an average rating of “Hold” from the twenty analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $23.58.
A number of research analysts recently commented on FNSR shares. Goldman Sachs set a $15.00 price objective on shares of Finisar and gave the company a “sell” rating in a research note on Friday, March 9th. Needham & Company LLC lowered shares of Finisar from a “buy” rating to a “hold” rating and lifted their price target for the stock from $16.64 to $29.41 in a research report on Friday, March 9th. Zacks Investment Research upgraded shares of Finisar from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Stifel Nicolaus decreased their price target on shares of Finisar from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 9th. Finally, Northland Securities set a $33.00 price target on shares of Finisar and gave the stock a “buy” rating in a research report on Friday, December 29th.
Shares of NASDAQ FNSR traded up $0.03 during mid-day trading on Thursday, reaching $15.42. 1,909,925 shares of the company traded hands, compared to its average volume of 4,021,348. Finisar has a fifty-two week low of $14.25 and a fifty-two week high of $28.99. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.06 and a quick ratio of 3.24. The firm has a market capitalization of $1,768.60, a PE ratio of 8.91, a P/E/G ratio of 2.34 and a beta of 1.17.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, March 8th. The technology company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.03). Finisar had a net margin of 7.35% and a return on equity of 5.97%. The company had revenue of $332.40 million for the quarter, compared to analyst estimates of $333.15 million. During the same quarter in the prior year, the business earned $0.59 EPS. Finisar’s revenue was down 12.7% compared to the same quarter last year. sell-side analysts anticipate that Finisar will post 0.47 earnings per share for the current fiscal year.
In other Finisar news, Director Jerry S. Rawls sold 30,209 shares of Finisar stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total transaction of $541,949.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger C. Ferguson sold 3,000 shares of Finisar stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $17.30, for a total transaction of $51,900.00. Following the sale, the director now directly owns 28,784 shares of the company’s stock, valued at approximately $497,963.20. The disclosure for this sale can be found here. Insiders have sold a total of 71,209 shares of company stock valued at $1,162,329 in the last three months. Company insiders own 1.02% of the company’s stock.
Several large investors have recently modified their holdings of FNSR. Ladenburg Thalmann Financial Services Inc. boosted 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 valued at $127,000 after buying an additional 2,912 shares during the period. Cubist Systematic Strategies LLC raised its holdings 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 valued at $155,000 after purchasing an additional 6,001 shares in the last quarter. First Mercantile Trust Co. bought a new position in shares of Finisar during the 4th quarter valued at $158,000. Janney Montgomery Scott LLC bought a new position in shares of Finisar during the 3rd quarter valued at $217,000. Finally, Aperio Group LLC bought a new position in shares of Finisar during the 4th quarter valued at $231,000. 92.60% of the stock is owned by institutional investors.
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Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical, or optoelectronic interface for interconnecting the electronic equipment used in networks comprising switches, routers, and servers used in wireline networks, as well as antennas and base stations used in wireless networks.
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