Finisar Corporation Target of Unusually Large Options Trading (FNSR)
Finisar Corporation (NASDAQ:FNSR) was the recipient of some unusual options trading activity on Tuesday. Investors bought 14,427 call options on the stock. This represents an increase of approximately 605% compared to the average daily volume of 2,047 call options.
In related news, SVP Mark Colyar sold 2,166 shares of the firm’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $27.19, for a total value of $58,893.54. Following the completion of the sale, the senior vice president now owns 44,822 shares in the company, valued at $1,218,710.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Todd Swanson sold 6,183 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were 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 sold 101,961 shares of company stock valued at $2,742,336 in the last quarter. Company insiders own 1.02% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Acrospire Investment Management LLC increased its holdings in shares of Finisar Corporation by 4.4% in the 1st quarter. Acrospire Investment Management LLC now owns 3,991 shares of the technology company’s stock valued at $109,000 after purchasing an additional 168 shares during the period. Fortaleza Asset Management Inc. acquired a new position in shares of Finisar Corporation in the 2nd quarter valued at about $138,000. Westside Investment Management Inc. acquired a new position in shares of Finisar Corporation in the 1st quarter valued at about $150,000. PNC Financial Services Group Inc. increased its holdings in shares of Finisar Corporation by 43.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,805 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Finisar Corporation in the 1st quarter valued at about $193,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.
Several research firms have weighed in on FNSR. Stifel Nicolaus restated a “buy” rating and set a $30.00 target price (down from $33.00) on shares of Finisar Corporation in a report on Tuesday. B. Riley restated a “buy” rating and set a $38.00 target price on shares of Finisar Corporation in a report on Sunday, June 18th. William Blair restated an “outperform” rating on shares of Finisar Corporation in a report on Friday, June 9th. Zacks Investment Research downgraded shares of Finisar Corporation from a “hold” rating to a “sell” rating in a report on Monday. Finally, DA Davidson restated a “buy” rating and set a $40.00 target price on shares of Finisar Corporation in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $35.48.
Shares of Finisar Corporation (NASDAQ FNSR) opened at 21.99 on Friday. Finisar Corporation has a one year low of $21.42 and a one year high of $36.85. The stock has a market capitalization of $2.45 billion, a P/E ratio of 10.04 and a beta of 1.33. The stock’s 50 day moving average is $25.00 and its 200-day moving average is $26.26.
Finisar Corporation (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $341.80 million for the quarter, compared to the consensus estimate of $341.22 million. Finisar Corporation had a return on equity of 13.91% and a net margin of 17.20%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.38 EPS. On average, equities research analysts expect that Finisar Corporation will post $2.04 EPS for the current year.
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About Finisar Corporation
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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