Finisar Corp. CFO Kurt Adzema Sells 5,684 Shares (FNSR)
Finisar Corp. (NASDAQ:FNSR) CFO Kurt Adzema unloaded 5,684 shares of the stock on the open market in a transaction dated Friday, October 18th. The stock was sold at an average price of $25.78, for a total transaction of $146,533.52. Following the completion of the sale, the chief financial officer now directly owns 96,207 shares of the company’s stock, valued at approximately $2,480,216. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Jefferies Group upgraded shares of Finisar Corp. from an “underperform” rating to a “hold” rating in a research note to investors on Tuesday, October 8th. They now have a $22.50 price target on the stock, up previously from $11.50. Finally, analysts at Barclays initiated coverage on shares of Finisar Corp. in a research note to investors on Wednesday, September 11th. They set an “overweight” rating and a $30.00 price target on the stock. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $25.68.
Finisar Corp. (NASDAQ:FNSR) traded up 1.00% on Tuesday, hitting $26.36. 1,935,638 shares of the company’s stock traded hands. Finisar Corp. has a 52-week low of $10.95 and a 52-week high of $22.65. The stock’s 50-day moving average is $21.19 and its 200-day moving average is $16.14. The company has a market cap of $2.526 billion and a P/E ratio of 91.26.
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 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. Analysts expect that Finisar Corp. will post $1.44 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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