Insider Selling: Mark Colyar Unloads 8,100 Shares of Finisar Stock (FNSR)
Finisar (NASDAQ:FNSR) VP Mark Colyar sold 8,100 shares of Finisar stock on the open market in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $24.90, for a total transaction of $201,690.00. Following the completion of the transaction, the vice president now directly owns 125,458 shares of the company’s stock, valued at approximately $3,123,904. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Finisar (NASDAQ:FNSR) traded up 0.12% on Thursday, hitting $25.25. The stock had a trading volume of 5,353,512 shares. Finisar has a 52-week low of $13.54 and a 52-week high of $28.85. The stock’s 50-day moving average is $24.61 and its 200-day moving average is $24.02. The company has a market cap of $2.443 billion and a P/E ratio of 28.82.
Finisar (NASDAQ:FNSR) last announced its earnings results on Thursday, June 12th. The company reported $0.36 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.38 by $0.02. The company had revenue of $306.03 million for the quarter, compared to the consensus estimate of $303.92 million. During the same quarter last year, the company posted $0.20 earnings per share. Finisar’s revenue was up 25.7% compared to the same quarter last year. On average, analysts predict that Finisar will post $1.56 earnings per share for the current fiscal year.
Separately, analysts at RBC Capital upgraded shares of Finisar from a “sector perform” rating to an “outperform” rating in a research note on Friday, March 28th. They now have a $30.00 price target on the stock, up previously from $26.00. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $28.40.
Finisar Corporation (NASDAQ:FNSR) is a provider of optical subsystems and components that are used in data communication and telecommunication applications.
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