Finisar Director Sells 1,500 Shares (FNSR)
Finisar (NASDAQ:FNSR) Director Roger C. Ferguson unloaded 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $19.78, for a total value of $29,670.00. Following the sale, the director now directly owns 23,853 shares of the company’s stock, valued at approximately $471,812. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Finisar (NASDAQ:FNSR) traded down 0.86% on Tuesday, hitting $19.54. The stock had a trading volume of 2,063,394 shares. Finisar has a one year low of $15.78 and a one year high of $28.85. The stock has a 50-day moving average of $23.05 and a 200-day moving average of $24.0. The company has a market cap of $1.895 billion and a price-to-earnings ratio of 18.08.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, June 12th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was up 25.7% on a year-over-year basis. Analysts expect that Finisar will post $1.44 EPS for the current fiscal year.
FNSR has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Finisar from a “neutral” rating to an “underperform” rating in a research note on Wednesday, June 18th. They now have a $18.60 price target on the stock. Separately, analysts at Raymond James reiterated a “strong-buy” rating on shares of Finisar in a research note on Friday, June 13th. They now have a $28.00 price target on the stock, down previously from $35.00. Finally, analysts at MKM Partners cut their price target on shares of Finisar from $30.00 to $26.00 in a research note on Friday, June 13th. They now have a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $28.05.
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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