Finisar Corporation (FNSR) Posts Earnings Results, Hits Estimates
Finisar Corporation (NASDAQ:FNSR) posted its quarterly earnings data on Thursday. The technology company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40, Briefing.com reports. Finisar Corporation had a net margin of 17.20% and a return on equity of 13.91%. The business had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. During the same quarter last year, the business earned $0.38 earnings per share. The business’s revenue for the quarter was up .1% on a year-over-year basis. Finisar Corporation updated its Q2 guidance to $0.27-0.33 EPS.
Finisar Corporation (FNSR) traded down 0.41% during trading on Thursday, reaching $21.99. 9,133,350 shares of the company were exchanged. Finisar Corporation has a 52-week low of $21.42 and a 52-week high of $36.85. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 10.04 and a beta of 1.33. The firm has a 50-day moving average of $25.14 and a 200-day moving average of $26.29. Finisar Corporation also was the recipient of unusually large options trading activity on Tuesday. Traders purchased 14,427 call options on the stock. This is an increase of 605% compared to the typical daily volume of 2,047 call options.
FNSR has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Finisar Corporation from a “hold” rating to a “sell” rating in a research note on Monday. Northland Securities set a $40.00 price objective on shares of Finisar Corporation and gave the company a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies reiterated a “buy” rating and set a $30.00 price objective (down previously from $32.00) on shares of Finisar Corporation in a research note on Tuesday. BidaskClub lowered shares of Finisar Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $34.00 price objective on shares of Finisar Corporation in a research note on Monday, May 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $35.48.
In other Finisar Corporation news, Director Robert Stephens sold 3,015 shares of the company’s stock in a transaction on Friday, June 16th. The shares were sold at an average price of $27.65, for a total transaction of $83,364.75. Following the sale, the director now directly owns 31,909 shares of the company’s stock, valued at $882,283.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Todd Swanson sold 6,183 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $27.65, for a total transaction of $170,959.95. The disclosure for this sale can be found here. Insiders have sold 101,961 shares of company stock worth $2,742,336 over the last ninety days. Insiders own 1.02% of the company’s stock.
Finisar Corporation Company Profile
Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks.
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