Insider Selling: Finisar Corp. CFO Unloads 1,949 Shares of Stock (FNSR)
Finisar Corp. (NASDAQ:FNSR) CFO Kurt Adzema sold 1,949 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $23.51, for a total transaction of $45,820.99. Following the completion of the transaction, the chief financial officer now directly owns 101,891 shares in the company. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on FNSR. Analysts at Barclays Capital initiated coverage on shares of Finisar Corp. (NASDAQ:FNSR) in a research note to investors on Wednesday, September 11th. They set an “overweight” rating and a $30.00 price target on the stock. Separately, 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, September 6th. They now have an “outperform” rating on the stock. Finally, 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, September 6th. They now have an “overweight” rating on the stock.
One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $24.76.
Finisar Corp. (NASDAQ:FNSR) traded up 1.76% during mid-day trading on Tuesday, hitting $23.66. The stock had a trading volume of 1,883,165 shares. 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 $21.45 and a 200-day moving average of $16.29. The company has a market cap of $2.267 billion and a P/E ratio of 81.29.
Finisar Corp. (NASDAQ:FNSR) last posted its quarterly earnings results 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 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 $1.43 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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