Finisar (NASDAQ:FNSR) received a $26.00 price target from stock analysts at Raymond James Financial in a report issued on Tuesday. The firm currently has a “buy” rating on the technology company’s stock. Raymond James Financial’s price target points to a potential upside of 21.55% from the company’s current price.
Other analysts have also issued research reports about the stock. Piper Jaffray Companies boosted their price target on shares of Finisar from $22.00 to $28.00 in a research note on Wednesday, December 13th. B. Riley reiterated a “buy” rating and issued a $38.00 target price on shares of Finisar in a research note on Wednesday, September 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 target price (down previously from $33.00) on shares of Finisar in a research note on Tuesday, September 5th. Craig Hallum reiterated a “buy” rating and issued a $28.00 target price (down previously from $38.00) on shares of Finisar in a research note on Friday, September 8th. Finally, DA Davidson reiterated a “buy” rating and issued a $40.00 target price on shares of Finisar in a research note on Thursday, September 7th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $28.08.
Shares of Finisar (FNSR) traded down $0.37 during midday trading on Tuesday, hitting $21.39. 2,562,661 shares of the stock were exchanged, compared to its average volume of 7,372,300. The firm has a market cap of $2,481.16, a P/E ratio of 12.22, a P/E/G ratio of 2.14 and a beta of 1.14. Finisar has a 1 year low of $17.20 and a 1 year high of $36.41. The company has a quick ratio of 6.31, a current ratio of 7.81 and a debt-to-equity ratio of 0.44.
In other Finisar news, EVP Julie Sheridan Eng sold 1,466 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $21.70, for a total transaction of $31,812.20. Following the sale, the executive vice president now directly owns 69,150 shares of the company’s stock, valued at $1,500,555. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kurt Adzema sold 20,025 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $22.15, for a total transaction of $443,553.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,369 shares of company stock worth $1,124,675. Insiders own 1.02% of the company’s stock.
Several institutional investors have recently made changes to their positions in FNSR. Aperio Group LLC purchased a new stake in shares of Finisar in the second quarter worth about $258,000. Schwab Charles Investment Management Inc. increased its position in shares of Finisar by 5.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 781,800 shares of the technology company’s stock worth $20,312,000 after purchasing an additional 40,889 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of Finisar by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 8,890 shares of the technology company’s stock worth $231,000 after purchasing an additional 136 shares during the last quarter. Legal & General Group Plc increased its position in shares of Finisar by 18.3% in the second quarter. Legal & General Group Plc now owns 42,332 shares of the technology company’s stock worth $1,104,000 after purchasing an additional 6,541 shares during the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Finisar in the second quarter worth approximately $241,000. 91.21% of the stock is currently owned by hedge funds and other institutional investors.
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.
