Insider Selling: Christopher Brown Sells 4,289 Shares of Finisar Corp. Stock (FNSR)
Finisar Corp. (NASDAQ:FNSR) VP Christopher Brown sold 4,289 shares of Finisar Corp. stock on the open market in a transaction dated Friday, September 6th. The stock was sold at an average price of $24.79, for a total value of $106,324.31. Following the sale, the vice president now directly owns 114,970 shares in the company. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
A number of analysts have recently weighed in on FNSR shares. Analysts at Raymond James raised their price target on shares of Finisar Corp. (NASDAQ:FNSR) from $24.00 to $28.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Piper Jaffray Cos. raised their price target on shares of Finisar Corp. (NASDAQ:FNSR) from $26.00 to $32.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Finally, analysts at MKM Partners raised their price target on shares of Finisar Corp. (NASDAQ:FNSR) from $26.00 to $30.00 in a research note to investors on Friday. They now have a “buy” rating on the stock.
One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $24.28.
Finisar Corp. (NASDAQ:FNSR) traded up 1.20% during mid-day trading on Tuesday, hitting $23.68. 2,801,955 shares of the company’s stock traded hands. Finisar Corp. has a one year low of $10.95 and a one year high of $25.00. The stock’s 50-day moving average is $20.6 and its 200-day moving average is $15.91. The company has a market cap of $2.240 billion and a P/E ratio of 82.11.
Finisar Corp. (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $266.07 million for the quarter, compared to the consensus estimate of $263.15 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. Analysts expect that Finisar Corp. will post $1.42 EPS for the current fiscal year.
Finisar Corporation develops and provides fiber optic subsystems and network performance test systems which enable data communications over local area networks, or LANs, and storage area networks, or SANs.
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