Finisar (NASDAQ:FNSR) was downgraded by equities researchers at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Monday, The Fly reports.
FNSR has been the topic of several other research reports. Piper Jaffray Companies reissued a “buy” rating and set a $22.00 price objective on shares of Finisar in a report on Friday, December 8th. Zacks Investment Research lowered Finisar from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. Needham & Company LLC lowered Finisar from a “strong-buy” rating to a “buy” rating and decreased their price objective for the stock from $34.00 to $25.00 in a report on Monday, December 4th. Craig Hallum reissued a “buy” rating on shares of Finisar in a report on Tuesday, January 2nd. Finally, BidaskClub raised Finisar from a “strong sell” rating to a “sell” rating in a report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $28.82.
Shares of Finisar (FNSR) traded up $0.48 during trading hours on Monday, hitting $22.74. Finisar has a 52 week low of $17.20 and a 52 week high of $36.41. The stock has a market cap of $2,590.00, a PE ratio of 12.99, a P/E/G ratio of 2.24 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Finisar had a return on equity of 9.51% and a net margin of 14.33%. The company had revenue of $332.21 million for the quarter, compared to analyst estimates of $331.69 million. analysts anticipate that Finisar will post 0.73 earnings per share for the current fiscal year.
In other Finisar news, Director Roger C. Ferguson sold 3,000 shares of the business’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $21.68, for a total value of $65,040.00. Following the transaction, the director now owns 41,034 shares of the company’s stock, valued at $889,617.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Jerry S. Rawls sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $22.89, for a total value of $457,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,369 shares of company stock worth $1,189,715. 1.02% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Capital Research Global Investors boosted its stake in Finisar by 2.7% in the second quarter. Capital Research Global Investors now owns 13,651,050 shares of the technology company’s stock worth $354,654,000 after purchasing an additional 359,709 shares in the last quarter. Vanguard Group Inc. boosted its stake in Finisar by 2.4% in the second quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock worth $231,435,000 after purchasing an additional 208,692 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Finisar by 10.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock worth $107,146,000 after purchasing an additional 471,882 shares in the last quarter. Northern Trust Corp boosted its stake in Finisar by 3.8% in the second quarter. Northern Trust Corp now owns 2,907,058 shares of the technology company’s stock worth $75,525,000 after purchasing an additional 107,680 shares in the last quarter. Finally, DnB Asset Management AS boosted its stake in Finisar by 22.9% in the fourth quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock worth $45,758,000 after purchasing an additional 419,120 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors.
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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.