Finisar (NASDAQ:FNSR) had its price target hoisted by stock analysts at Piper Jaffray Companies from $22.00 to $28.00 in a research report issued on Wednesday, The Fly reports. Piper Jaffray Companies’ price objective points to a potential upside of 45.08% from the company’s previous close.
Other equities research analysts have also issued reports about the stock. B. Riley restated a “buy” rating and set a $38.00 price objective on shares of Finisar in a report on Wednesday, September 6th. BidaskClub upgraded shares of Finisar from a “strong sell” rating to a “sell” rating in a report on Tuesday. Barclays restated a “hold” rating and set a $18.00 price objective on shares of Finisar in a report on Wednesday. Jefferies Group restated a “buy” rating and set a $28.50 price objective (down from $34.00) on shares of Finisar in a report on Friday, September 8th. Finally, Raymond James Financial set a $22.00 price objective on shares of Finisar and gave the stock a “buy” rating in a report on Thursday, December 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Finisar has an average rating of “Buy” and a consensus target price of $27.82.
Shares of Finisar (NASDAQ FNSR) traded down $0.51 during trading hours on Wednesday, hitting $19.30. 6,020,300 shares of the company were exchanged, compared to its average volume of 3,445,674. Finisar has a fifty-two week low of $17.20 and a fifty-two week high of $36.41. The company has a current ratio of 7.81, a quick ratio of 6.31 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $2,258.82, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.42 and a beta of 1.14.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The business had revenue of $332.21 million for the quarter, compared to analyst estimates of $331.69 million. equities analysts predict that Finisar will post 1.02 earnings per share for the current year.
In other news, Director Roger C. Ferguson sold 2,726 shares of Finisar stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $21.46, for a total value of $58,499.96. Following the completion of the transaction, the director now owns 44,034 shares of the company’s stock, valued at approximately $944,969.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Jerry S. Rawls sold 20,000 shares of Finisar 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 disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC grew its position in shares of Finisar by 12.9% in the 2nd quarter. Voya Investment Management LLC now owns 51,499 shares of the technology company’s stock valued at $1,338,000 after acquiring an additional 5,883 shares during the period. Taylor Asset Management Inc. boosted its holdings in shares of Finisar by 13.2% during the 2nd quarter. Taylor Asset Management Inc. now owns 1,044,300 shares of the technology company’s stock worth $27,131,000 after buying an additional 121,800 shares during the period. Symphony Asset Management LLC boosted its holdings in shares of Finisar by 86.6% during the 2nd quarter. Symphony Asset Management LLC now owns 118,500 shares of the technology company’s stock worth $3,079,000 after buying an additional 55,000 shares during the period. Endurance Wealth Management Inc. boosted its holdings in shares of Finisar by 506.1% during the 3rd quarter. Endurance Wealth Management Inc. now owns 279,184 shares of the technology company’s stock worth $6,190,000 after buying an additional 233,125 shares during the period. Finally, Fondren Management LP bought a new stake in shares of Finisar during the 2nd quarter worth about $325,000. 91.45% of the stock is owned by institutional investors.
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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.