Finisar (FNSR) Rating Lowered to Buy at Needham & Company LLC

Finisar (NASDAQ:FNSR) was downgraded by investment analysts at Needham & Company LLC from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday, The Fly reports.

Several other brokerages have also recently commented on FNSR. Northland Securities set a $40.00 target price on shares of Finisar and gave the stock a “buy” rating in a report on Tuesday, August 29th. Zacks Investment Research upgraded shares of Finisar from a “sell” rating to a “hold” rating and set a $27.00 target price for the company in a report on Tuesday, August 15th. Jefferies Group assumed coverage on shares of Finisar in a research note on Wednesday, November 1st. They issued a “buy” rating and a $28.50 price target for the company. Piper Jaffray Companies reiterated a “buy” rating and issued a $30.00 price target (down previously from $32.00) on shares of Finisar in a research note on Tuesday, September 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price target (down previously from $33.00) on shares of Finisar in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Finisar has an average rating of “Buy” and an average target price of $31.35.

Finisar (NASDAQ FNSR) opened at $19.26 on Monday. The firm has a market cap of $2,193.48, a P/E ratio of 11.53, a PEG ratio of 1.35 and a beta of 1.14. Finisar has a 1-year low of $17.80 and a 1-year high of $36.85. The company has a quick ratio of 6.24, a current ratio of 7.66 and a debt-to-equity ratio of 0.44.

Finisar (NASDAQ:FNSR) last announced its earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ 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 quarter in the prior year, the company posted $0.38 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. sell-side analysts expect that Finisar will post 1.04 EPS for the current fiscal year.

In other Finisar news, Chairman Jerry S. Rawls sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total value of $457,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Roger C. Ferguson sold 2,726 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 44,034 shares in the company, valued at $944,969.64. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Assetmark acquired a new stake in Finisar during the 3rd quarter worth approximately $0. Acrospire Investment Management LLC boosted its position in Finisar by 4.4% during the 1st quarter. Acrospire Investment Management LLC now owns 3,991 shares of the technology company’s stock worth $109,000 after buying an additional 168 shares during the period. Strs Ohio boosted its position in Finisar by 20.4% during the 2nd quarter. Strs Ohio now owns 6,500 shares of the technology company’s stock worth $113,000 after buying an additional 1,100 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its position in Finisar by 103.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after buying an additional 2,912 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in Finisar by 12.9% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,297 shares of the technology company’s stock worth $128,000 after buying an additional 836 shares during the period. Institutional investors own 91.45% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This article was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.americanbankingnews.com/2017/12/04/finisar-fnsr-rating-lowered-to-buy-at-needham-company-llc.html.

Finisar 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.

The Fly

Analyst Recommendations for Finisar (NASDAQ:FNSR)

Receive News & Ratings for Finisar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply