Finisar Corporation (NASDAQ:FNSR) – Equities researchers at B. Riley issued their Q1 2019 earnings estimates for Finisar in a note issued to investors on Wednesday. B. Riley analyst D. Kang anticipates that the technology company will earn $0.28 per share for the quarter. B. Riley currently has a “Neutral” rating and a $22.00 target price on the stock. B. Riley also issued estimates for Finisar’s Q2 2019 earnings at $0.29 EPS, Q3 2019 earnings at $0.32 EPS and Q4 2019 earnings at $0.30 EPS.
FNSR has been the subject of a number of other reports. Zacks Investment Research cut shares of Finisar from a “hold” rating to a “sell” rating in a research note on Monday, September 4th. Northland Securities set a $40.00 price objective on shares of Finisar and gave the stock a “buy” rating in a research note on Tuesday, August 29th. TheStreet cut shares of Finisar from a “b” rating to a “c+” rating in a research note on Thursday, November 2nd. Piper Jaffray Companies reissued a “buy” rating and issued a $30.00 price objective (down from $32.00) on shares of Finisar in a research note on Tuesday, September 5th. Finally, Jefferies Group started coverage on shares of Finisar in a research note on Wednesday, November 1st. They issued a “buy” rating and a $28.50 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.35.
Finisar (NASDAQ:FNSR) last announced its earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. Finisar had a net margin of 16.92% and a return on equity of 13.11%. The business had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $341.22 million. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up .1% on a year-over-year basis.
In other Finisar news, Director Roger C. Ferguson sold 2,726 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $21.46, for a total transaction of $58,499.96. Following the completion of the transaction, the director now owns 44,034 shares in the company, valued at $944,969.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jerry S. Rawls sold 20,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total transaction of $457,800.00. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio lifted its holdings in shares of Finisar by 3.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 97,201 shares of the technology company’s stock worth $2,155,000 after acquiring an additional 3,341 shares during the last quarter. Argent Capital Management LLC bought a new stake in shares of Finisar in the 3rd quarter worth about $687,000. Janney Montgomery Scott LLC bought a new stake in shares of Finisar in the 3rd quarter worth about $217,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Finisar by 103.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after acquiring an additional 2,912 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Finisar by 598.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after acquiring an additional 6,001 shares during the last quarter. Institutional investors and hedge funds own 91.44% of the company’s stock.
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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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