Raymond James Financial Analysts Give Finisar (FNSR) a $22.00 Price Target

Finisar (NASDAQ:FNSR) has been assigned a $22.00 target price by stock analysts at Raymond James Financial in a research report issued to clients and investors on Wednesday. The brokerage presently has a “buy” rating on the technology company’s stock. Raymond James Financial’s price target would suggest a potential downside of 0.23% from the stock’s previous close.

A number of other research firms have also weighed in on FNSR. William Blair reissued an “outperform” rating on shares of Finisar in a report on Thursday, September 14th. Goldman Sachs Group reissued a “buy” rating and set a $32.00 target price (down from $37.00) on shares of Finisar in a report on Friday, September 8th. MKM Partners reissued a “buy” rating and set a $31.00 target price (down from $33.00) on shares of Finisar in a report on Monday, September 11th. DA Davidson reissued a “buy” rating and set a $30.00 target price on shares of Finisar in a report on Wednesday, November 29th. Finally, Piper Jaffray Companies boosted their target price on shares of Finisar from $22.00 to $28.00 in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Finisar has an average rating of “Buy” and an average price target of $27.82.

Shares of Finisar (NASDAQ FNSR) opened at $22.05 on Wednesday. The stock has a market cap of $2,514.23, a P/E ratio of 17.23, a P/E/G ratio of 2.13 and a beta of 1.14. The company has a current ratio of 7.81, a quick ratio of 6.31 and a debt-to-equity ratio of 0.44. Finisar has a 1-year low of $17.20 and a 1-year high of $36.41.

Finisar (NASDAQ:FNSR) last posted its earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The firm had revenue of $332.21 million for the quarter, compared to analyst estimates of $331.69 million. research analysts anticipate that Finisar will post 0.74 earnings per share for the current fiscal year.

In related news, Director Roger C. Ferguson sold 2,726 shares of the business’s 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 transaction, the director now owns 44,034 shares in the company, valued at approximately $944,969.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP John H. Clark sold 6,186 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $24.90, for a total transaction of $154,031.40. Following the transaction, the executive vice president now owns 146,053 shares in the company, valued at approximately $3,636,719.70. The disclosure for this sale can be found here. Insiders have sold a total of 28,912 shares of company stock worth $670,331 in the last quarter. 1.02% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its holdings in Finisar by 2.7% during the second quarter. Capital Research Global Investors now owns 13,651,050 shares of the technology company’s stock worth $354,654,000 after buying an additional 359,709 shares during the last quarter. Vanguard Group Inc. raised its holdings in Finisar by 2.4% during the second quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock worth $231,435,000 after buying an additional 208,692 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Finisar by 10.8% during the third quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock worth $107,146,000 after buying an additional 471,882 shares during the last quarter. Northern Trust Corp raised its holdings in Finisar by 3.8% during the second quarter. Northern Trust Corp now owns 2,907,058 shares of the technology company’s stock worth $75,525,000 after buying an additional 107,680 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Finisar by 5.9% in the 2nd quarter. State Street Corp now owns 2,199,440 shares of the technology company’s stock worth $57,141,000 after acquiring an additional 121,724 shares in the last quarter. Hedge funds and other 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)