Insider Selling: Roger Ferguson Sells 2,000 Shares of Finisar Corp. Stock (FNSR)
Finisar Corp. (NASDAQ:FNSR) Director Roger Ferguson unloaded 2,000 shares of the stock on the open market in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $23.68, for a total value of $47,360.00. Following the sale, the director now directly owns 30,853 shares of the company’s stock, valued at approximately $730,599. The transaction was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. 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 equities 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. Finisar Corp. presently has an average rating of “Buy” and an average target price of $24.76.
Finisar Corp. (NASDAQ:FNSR) traded down 2.24% on Monday, hitting $23.18. 1,291,602 shares of the company’s stock traded hands. Finisar Corp. has a 1-year low of $10.95 and a 1-year high of $25.00. The stock’s 50-day moving average is $21.82 and its 200-day moving average is $16.46. The company has a market cap of $2.221 billion and a P/E ratio of 82.90.
Finisar Corp. (NASDAQ:FNSR) last announced its 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 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 $1.43 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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