Finisar Corp. Stock Rating Upgraded by Raymond James (FNSR)
Finisar Corp. (NASDAQ:FNSR) was upgraded by stock analysts at Raymond James to a “strong-buy” rating in a report issued on Friday, Analyst Ratings.Net reports.
Several other analysts have also recently commented on the stock. Analysts at Barclays raised their price target on shares of Finisar Corp. from $30.00 to $32.00 in a research note to investors on Friday, December 6th. They now have an “overweight” rating on the stock. Separately, analysts at MKM Partners cut their price target on shares of Finisar Corp. from $30.00 to $27.00 in a research note to investors on Friday, November 22nd. Finally, 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. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.37.
In other Finisar Corp. news, Director Roger Ferguson unloaded 4,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $23.17, for a total value of $92,680.00. Following the transaction, the director now directly owns 26,853 shares of the company’s stock, valued at approximately $622,184. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Finisar Corp. (NASDAQ:FNSR) opened at 23.26 on Friday. Finisar Corp. has a 1-year low of $12.17 and a 1-year high of $26.66. The stock has a 50-day moving average of $21.87 and a 200-day moving average of $21.28. The company has a market cap of $2.236 billion and a price-to-earnings ratio of 41.10.
Finisar Corp. (NASDAQ:FNSR) last announced its earnings results on Thursday, December 5th. The company reported $0.43 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.30 by $0.13. The company had revenue of $290.72 million for the quarter, compared to the consensus estimate of $263.15 million. During the same quarter last year, the company posted $0.15 earnings per share. Finisar Corp.’s revenue was up 25.3% compared to the same quarter last year. Analysts expect that Finisar Corp. will post $1.59 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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