Finisar Cut to Buy at Needham & Company LLC (FNSR)
Shares of Finisar (NASDAQ:FNSR) opened at 18.37 on Friday. Finisar has a one year low of $18.35 and a one year high of $28.85. The stock’s 50-day moving average is $19.85 and its 200-day moving average is $22.83. The company has a market cap of $1.788 billion and a P/E ratio of 17.27.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, September 4th. The company reported $0.32 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.32. The company had revenue of $327.60 million for the quarter, compared to the consensus estimate of $320.70 million. During the same quarter last year, the company posted $0.31 earnings per share. Finisar’s revenue was up 23.1% compared to the same quarter last year. On average, analysts predict that Finisar will post $1.42 earnings per share for the current fiscal year.
FNSR has been the subject of a number of other recent research reports. Analysts at Stifel Nicolaus downgraded shares of Finisar to a “hold” rating in a research note on Friday. Separately, analysts at B. Riley reiterated a “buy” rating on shares of Finisar in a research note on Friday. They now have a $25.50 price target on the stock, down previously from $30.00. Finally, analysts at Piper Jaffray cut their price target on shares of Finisar from $24.00 to $21.00 in a research note on Friday. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $24.50.
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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