Finisar Co. (NASDAQ:FNSR) Director Jerry S. Rawls sold 40,000 shares of the business’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $23.03, for a total value of $921,200.00. Following the sale, the director now owns 416,171 shares in the company, valued at approximately $9,584,418.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of FNSR stock opened at $22.49 on Friday. The stock has a market capitalization of $2.70 billion, a PE ratio of 100.04, a P/E/G ratio of 4.11 and a beta of 1.56. The company has a quick ratio of 2.98, a current ratio of 3.69 and a debt-to-equity ratio of 0.31. Finisar Co. has a 52-week low of $14.25 and a 52-week high of $25.41.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings data on Monday, December 3rd. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.16. The business had revenue of $325.42 million during the quarter, compared to analysts’ expectations of $327.84 million. Finisar had a positive return on equity of 1.52% and a negative net margin of 7.61%. As a group, equities research analysts expect that Finisar Co. will post 0.45 earnings per share for the current fiscal year.
FNSR has been the topic of several research analyst reports. Zacks Investment Research upgraded Finisar from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, October 16th. BidaskClub upgraded Finisar from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. ValuEngine upgraded Finisar from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. Needham & Company LLC dropped their price target on Finisar to $48.00 and set a “buy” rating on the stock in a research note on Monday, November 12th. Finally, Morgan Stanley downgraded Finisar from an “overweight” rating to an “equal weight” rating and set a $20.00 price target on the stock. in a research note on Thursday, September 13th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $25.25.
Hedge funds have recently modified their holdings of the company. FMR LLC lifted its holdings in shares of Finisar by 28.6% in the 2nd quarter. FMR LLC now owns 2,987,300 shares of the technology company’s stock valued at $53,771,000 after buying an additional 664,490 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of Finisar in the 2nd quarter valued at about $841,000. TCW Group Inc. lifted its holdings in shares of Finisar by 43.6% in the 3rd quarter. TCW Group Inc. now owns 37,774 shares of the technology company’s stock valued at $720,000 after buying an additional 11,463 shares during the period. Lumina Fund Management LLC lifted its holdings in shares of Finisar by 10.3% in the 2nd quarter. Lumina Fund Management LLC now owns 30,000 shares of the technology company’s stock valued at $540,000 after buying an additional 2,800 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Finisar by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 250,247 shares of the technology company’s stock valued at $4,481,000 after buying an additional 7,643 shares during the period. 99.40% of the stock is owned by institutional investors and hedge funds.
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Finisar Company Profile
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.
Further Reading: Closed-End Mutual Funds (CEFs)
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