Insider Selling: Kurt Adzema Unloads 6,317 Shares of Finisar Corp. Stock (FNSR)
Finisar Corp. (NASDAQ:FNSR) CFO Kurt Adzema unloaded 6,317 shares of Finisar Corp. stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $24.90, for a total transaction of $157,293.30. Following the completion of the transaction, the chief financial officer now directly owns 102,731 shares in the company. The sale was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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 research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $24.28.
Shares of Finisar Corp. (NASDAQ:FNSR) traded up 1.20% 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 has a 50-day moving average of $20.6 and a 200-day moving average of $15.91. The company has a market cap of $2.240 billion and a price-to-earnings ratio of 82.11.
Finisar Corp. (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.12 earnings per share. The company’s quarterly revenue was up 20.7% on a year-over-year basis. On average, analysts predict that Finisar Corp. will post $1.42 earnings per share 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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