Finisar Corporation (FNSR) Stock Rating Reaffirmed by William Blair
Finisar Corporation (NASDAQ:FNSR)‘s stock had its “outperform” rating restated by investment analysts at William Blair in a report issued on Thursday.
Several other analysts have also recently commented on the company. ValuEngine cut Finisar Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. DA Davidson started coverage on Finisar Corporation in a report on Thursday, June 29th. They issued a “buy” rating and a $40.00 target price on the stock. Northland Securities reiterated a “buy” rating and issued a $40.00 target price on shares of Finisar Corporation in a report on Friday, July 28th. Piper Jaffray Companies reiterated a “buy” rating and issued a $30.00 target price (down from $32.00) on shares of Finisar Corporation in a report on Tuesday, September 5th. Finally, Zacks Investment Research cut Finisar Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $32.87.
Shares of Finisar Corporation (NASDAQ FNSR) traded down 0.95% during mid-day trading on Thursday, reaching $21.78. 617,707 shares of the company’s stock traded hands. The company has a 50 day moving average of $24.46 and a 200 day moving average of $25.92. Finisar Corporation has a 12 month low of $20.16 and a 12 month high of $36.85. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 10.24 and a beta of 1.33.
Finisar Corporation (NASDAQ:FNSR) last announced its earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The business had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $341.22 million. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. Analysts expect that Finisar Corporation will post $1.53 earnings per share for the current fiscal year.
In other news, Chairman Jerry S. Rawls sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $25.93, for a total transaction of $648,250.00. Following the transaction, the chairman now directly owns 815,188 shares of the company’s stock, valued at $21,137,824.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Todd Swanson sold 6,202 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $24.34, for a total value of $150,956.68. Following the transaction, the executive vice president now directly owns 217,005 shares in the company, valued at $5,281,901.70. 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. 1.02% of the stock is owned by insiders.
Several large investors have recently modified their holdings of FNSR. Russell Investments Group Ltd. raised its position in shares of Finisar Corporation by 86.3% during the first quarter. Russell Investments Group Ltd. now owns 370,476 shares of the technology company’s stock worth $10,129,000 after purchasing an additional 171,564 shares during the period. LSV Asset Management purchased a new stake in Finisar Corporation in the 1st quarter valued at $281,000. State Board of Administration of Florida Retirement System raised its position in Finisar Corporation by 0.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 84,055 shares of the technology company’s stock valued at $2,298,000 after buying an additional 406 shares during the last quarter. First Trust Advisors LP raised its position in Finisar Corporation by 333.0% in the 1st quarter. First Trust Advisors LP now owns 45,027 shares of the technology company’s stock valued at $1,231,000 after buying an additional 34,628 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Finisar Corporation by 3.7% in the 1st quarter. American Century Companies Inc. now owns 265,461 shares of the technology company’s stock valued at $7,258,000 after buying an additional 9,376 shares during the last quarter. 86.38% of the stock is currently owned by institutional investors.
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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