Finisar VP Unloads $98,920 in Stock (FNSR)
Finisar (NASDAQ:FNSR) VP Todd Swanson unloaded 4,946 shares of the stock on the open market in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $20.00, for a total value of $98,920.00. Following the completion of the sale, the vice president now directly owns 185,366 shares in the company, valued at approximately $3,707,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on FNSR. 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 research analysts have rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Finisar has an average rating of “Buy” and a consensus target price of $27.78.
Shares of Finisar (NASDAQ:FNSR) traded down 0.18% on Monday, hitting $20.6627. The stock had a trading volume of 2,008,958 shares. Finisar has a 52 week low of $16.77 and a 52 week high of $28.85. The stock has a 50-day moving average of $22.33 and a 200-day moving average of $23.86. The company has a market cap of $2.011 billion and a price-to-earnings ratio of 18.92.
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 $1.44 earnings per share for the current fiscal year.
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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