A number of other equities research analysts have also issued reports on FNSR. B. Riley reissued a buy rating and set a $20.00 target price on shares of Finisar Corp. in a research note on Tuesday, June 14th. Zacks Investment Research raised shares of Finisar Corp. from a hold rating to a buy rating and set a $20.00 target price for the company in a research note on Monday, July 11th. Jefferies Group reissued a hold rating and set a $19.00 target price (up previously from $18.00) on shares of Finisar Corp. in a research note on Friday, June 17th. Barclays PLC lifted their target price on shares of Finisar Corp. from $20.00 to $27.00 and gave the company an equal weight rating in a research note on Friday, September 9th. Finally, TheStreet raised shares of Finisar Corp. from a hold rating to a buy rating in a research note on Monday, June 20th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $27.57.
Shares of Finisar Corp. (NASDAQ:FNSR) opened at 28.74 on Monday. The firm has a market capitalization of $3.17 billion, a P/E ratio of 56.24 and a beta of 1.39. The stock’s 50 day moving average price is $21.95 and its 200-day moving average price is $18.48. Finisar Corp. has a 12-month low of $10.66 and a 12-month high of $29.25.
Finisar Corp. (NASDAQ:FNSR) last issued its earnings results on Thursday, September 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.08. The company earned $341.30 million during the quarter, compared to analyst estimates of $331.34 million. Finisar Corp. had a net margin of 4.32% and a return on equity of 7.61%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. On average, equities analysts expect that Finisar Corp. will post $1.73 EPS for the current year.
In other news, EVP Christopher Brown sold 18,576 shares of the business’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $18.08, for a total transaction of $335,854.08. Following the transaction, the executive vice president now owns 154,570 shares in the company, valued at approximately $2,794,625.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Mark Colyar sold 39,225 shares of the business’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $20.75, for a total transaction of $813,918.75. Following the transaction, the senior vice president now owns 95,633 shares in the company, valued at approximately $1,984,384.75. The disclosure for this sale can be found here. Insiders own 1.34% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bogle Investment Management L P DE bought a new position in Finisar Corp. during the first quarter valued at about $873,000. Geode Capital Management LLC boosted its stake in Finisar Corp. by 4.1% in the first quarter. Geode Capital Management LLC now owns 717,091 shares of the company’s stock worth $13,079,000 after buying an additional 28,397 shares during the last quarter. State Street Corp boosted its stake in Finisar Corp. by 4.2% in the first quarter. State Street Corp now owns 1,796,616 shares of the company’s stock worth $32,770,000 after buying an additional 71,987 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Finisar Corp. by 70.6% in the first quarter. Canada Pension Plan Investment Board now owns 520,970 shares of the company’s stock worth $9,502,000 after buying an additional 215,600 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Finisar Corp. during the first quarter worth $1,009,000. Institutional investors own 91.69% of the company’s stock.
Finisar Corp. Company Profile
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, optical engines and active optical cables that provide the fundamental optical-electrical, or optoelectronic, interface for interconnecting the electronic equipment used in communication networks, including the switches, routers and servers used in wireline networks, as well as the antennas and base stations used in wireless networks.
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