Finisar (NASDAQ:FNSR) had its price target dropped by equities research analysts at Stifel Nicolaus from $27.00 to $23.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 29.00% from the stock’s previous close.

A number of other research firms have also commented on FNSR. Northland Securities set a $40.00 price objective on shares of Finisar and gave the company a “buy” rating in a research note on Tuesday, August 29th. Zacks Investment Research raised shares of Finisar from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a research note 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 objective on the stock. Piper Jaffray Companies reaffirmed 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, ValuEngine lowered shares of Finisar from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $30.28.

Shares of Finisar (NASDAQ:FNSR) traded down $0.28 during midday trading on Wednesday, reaching $17.83. 2,864,900 shares of the company’s stock traded hands, compared to its average volume of 3,383,995. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.24 and a current ratio of 7.66. Finisar has a 1 year low of $17.79 and a 1 year high of $36.85. The firm has a market cap of $2,062.50, a PE ratio of 10.84, a P/E/G ratio of 1.27 and a beta of 1.14.

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

In other Finisar news, Chairman Jerry S. Rawls sold 20,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total transaction of $457,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, the director now owns 44,034 shares of the company’s stock, valued at $944,969.64. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FNSR. Aperio Group LLC bought a new stake in Finisar during the second quarter valued at approximately $258,000. Great West Life Assurance Co. Can lifted its position in Finisar by 2,605.2% during the second quarter. Great West Life Assurance Co. Can now owns 304,174 shares of the technology company’s stock valued at $7,912,000 after purchasing an additional 292,930 shares during the last quarter. Sei Investments Co. lifted its position in Finisar by 15.6% during the second quarter. Sei Investments Co. now owns 230,211 shares of the technology company’s stock valued at $5,980,000 after purchasing an additional 31,052 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Finisar by 5.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 781,800 shares of the technology company’s stock valued at $20,312,000 after purchasing an additional 40,889 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in Finisar during the second quarter valued at approximately $787,000. Institutional investors own 91.45% of the company’s stock.

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About Finisar

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.

Analyst Recommendations for Finisar (NASDAQ:FNSR)

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