Finisar (FNSR) Given a $28.00 Price Target by Craig Hallum Analysts
Finisar (NASDAQ:FNSR) has been given a $28.00 target price by research analysts at Craig Hallum in a note issued to investors on Thursday. The brokerage currently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price indicates a potential upside of 26.98% from the company’s current price.
Other analysts also recently issued research reports about the stock. Piper Jaffray Companies raised their price target on shares of Finisar from $22.00 to $28.00 in a report on Wednesday. B. Riley restated a “buy” rating and set a $38.00 price target on shares of Finisar in a report on Wednesday, September 6th. Stifel Nicolaus restated a “buy” rating and set a $30.00 price target (down previously from $33.00) on shares of Finisar in a report on Tuesday, September 5th. DA Davidson restated a “buy” rating and set a $40.00 price target on shares of Finisar in a report on Thursday, September 7th. Finally, Northland Securities set a $40.00 price target on shares of Finisar and gave the stock a “buy” rating in a report on Tuesday, August 29th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.82.
Finisar (FNSR) opened at $22.05 on Thursday. The company has a quick ratio of 6.31, a current ratio of 7.81 and a debt-to-equity ratio of 0.44. Finisar has a 12 month low of $17.20 and a 12 month high of $36.41. The firm has a market cap of $2,590.63, a P/E ratio of 17.75, a price-to-earnings-growth ratio of 2.20 and a beta of 1.14.
In related news, Chairman Jerry S. Rawls sold 20,000 shares of Finisar stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John H. Clark sold 6,186 shares of Finisar stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total transaction of $154,031.40. Following the completion of the sale, the executive vice president now owns 146,053 shares of the company’s stock, valued at approximately $3,636,719.70. The disclosure for this sale can be found here. Insiders sold a total of 28,912 shares of company stock valued at $670,331 in the last quarter. 1.02% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the stock. Voya Investment Management LLC grew its stake in shares of Finisar by 12.9% in the second quarter. Voya Investment Management LLC now owns 51,499 shares of the technology company’s stock worth $1,338,000 after acquiring an additional 5,883 shares in the last quarter. Taylor Asset Management Inc. grew its stake in shares of Finisar by 13.2% in the second quarter. Taylor Asset Management Inc. now owns 1,044,300 shares of the technology company’s stock worth $27,131,000 after acquiring an additional 121,800 shares in the last quarter. Symphony Asset Management LLC grew its stake in shares of Finisar by 86.6% in the second quarter. Symphony Asset Management LLC now owns 118,500 shares of the technology company’s stock worth $3,079,000 after acquiring an additional 55,000 shares in the last quarter. Endurance Wealth Management Inc. grew its stake in shares of Finisar by 506.1% in the third quarter. Endurance Wealth Management Inc. now owns 279,184 shares of the technology company’s stock worth $6,190,000 after acquiring an additional 233,125 shares in the last quarter. Finally, Fondren Management LP acquired a new position in shares of Finisar in the second quarter worth $325,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.
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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.
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