Finisar (NASDAQ:FNSR) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.
Several other research analysts have also weighed in on the stock. Morgan Stanley lowered shares of Finisar from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock. in a report on Thursday, September 13th. ValuEngine upgraded shares of Finisar from a “hold” rating to a “buy” rating in a report on Wednesday, November 7th. B. Riley cut their price objective on shares of Finisar from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, September 4th. Loop Capital cut their price objective on shares of Finisar to $20.00 and set a “hold” rating on the stock in a report on Friday, September 7th. Finally, Piper Jaffray Companies upgraded shares of Finisar from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $18.00 to $26.00 in a report on Thursday, August 23rd. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Finisar currently has a consensus rating of “Buy” and a consensus price target of $25.25.
Shares of FNSR stock opened at $22.49 on Friday. The stock has a market cap of $2.68 billion, a PE ratio of 70.28, a P/E/G ratio of 4.08 and a beta of 1.56. Finisar has a 1-year low of $14.25 and a 1-year high of $25.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.98 and a current ratio of 3.69.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Monday, December 3rd. The technology company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.16. The business had revenue of $325.42 million for the quarter, compared to analyst estimates of $327.84 million. Finisar had a negative net margin of 7.61% and a positive return on equity of 1.52%. Analysts forecast that Finisar will post 0.45 earnings per share for the current fiscal year.
In related news, Director Jerry S. Rawls sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $23.03, for a total value of $921,200.00. Following the transaction, the director now owns 416,171 shares in the company, valued at $9,584,418.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jerry S. Rawls sold 30,208 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $16.77, for a total transaction of $506,588.16. Following the completion of the transaction, the director now owns 486,379 shares in the company, valued at approximately $8,156,575.83. The disclosure for this sale can be found here. Insiders sold 113,208 shares of company stock worth $2,235,108 in the last 90 days. 1.11% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of FNSR. Alliancebernstein L.P. raised its holdings in Finisar by 111.2% in the third quarter. Alliancebernstein L.P. now owns 8,278,822 shares of the technology company’s stock valued at $157,712,000 after buying an additional 4,359,557 shares during the period. Bank of New York Mellon Corp raised its holdings in Finisar by 102.3% in the second quarter. Bank of New York Mellon Corp now owns 4,936,130 shares of the technology company’s stock valued at $88,850,000 after buying an additional 2,496,574 shares during the period. Dimensional Fund Advisors LP raised its holdings in Finisar by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,915,553 shares of the technology company’s stock valued at $160,479,000 after buying an additional 1,328,867 shares during the period. Victory Capital Management Inc. raised its holdings in Finisar by 670.5% in the third quarter. Victory Capital Management Inc. now owns 1,113,828 shares of the technology company’s stock valued at $21,218,000 after buying an additional 969,261 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Finisar by 35.5% in the third quarter. Franklin Resources Inc. now owns 3,525,548 shares of the technology company’s stock valued at $67,162,000 after buying an additional 922,800 shares during the period. Hedge funds and other institutional investors own 99.40% of the company’s stock.
Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies 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 wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.
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