Finisar (FNSR) Rating Increased to Hold at Zacks Investment Research

Finisar (NASDAQ:FNSR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday.

According to Zacks, “FINISAR CORP. is a provider of fiber optic subsystems and network test and monitoring systems which enable high-speed data communications over local area networks, or LANs, storage area networks, or SANs, and metropolitan access networks, or MANs. They are focused on the application of digital fiber optics to provide aline of high-performance, reliable, value-added optical subsystems for data networking and storage equipment manufacturers. “

Other research analysts have also recently issued research reports about the company. TheStreet cut Finisar from a “b” rating to a “c+” rating in a research note on Thursday, November 2nd. Jefferies Group assumed coverage on shares of Finisar in a report on Wednesday, November 1st. They set a “buy” rating and a $28.50 target price on the stock. Piper Jaffray Companies boosted their target price on shares of Finisar from $22.00 to $28.00 in a report on Wednesday, December 13th. ValuEngine raised shares of Finisar from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Finally, Barclays set a $25.00 target price on shares of Finisar and gave the company a “hold” rating in a report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $27.27.

Shares of Finisar (NASDAQ FNSR) traded up $0.13 during mid-day trading on Thursday, reaching $17.68. 2,495,079 shares of the company’s stock traded hands, compared to its average volume of 3,230,000. 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 stock has a market capitalization of $2,020.00, a price-to-earnings ratio of 10.10, a PEG ratio of 1.91 and a beta of 1.07. Finisar has a one year low of $16.64 and a one year high of $36.41.

Finisar (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 earnings per share 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 company had revenue of $332.21 million for the quarter, compared to analysts’ expectations of $331.69 million. sell-side analysts anticipate that Finisar will post 0.66 EPS for the current fiscal year.

In other news, Director Jerry S. Rawls sold 30,209 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total transaction of $541,949.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger C. Ferguson sold 3,000 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $21.68, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 62,578 shares of company stock valued at $1,273,865 over the last 90 days. Company insiders own 1.02% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Finisar by 103.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after acquiring an additional 2,912 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Finisar by 43.9% in the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after acquiring an additional 1,805 shares in the last quarter. Cheyne Capital Management UK LLP acquired a new stake in Finisar in the third quarter valued at approximately $155,000. Cubist Systematic Strategies LLC raised its holdings in Finisar by 598.3% in the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after acquiring an additional 6,001 shares in the last quarter. Finally, First Mercantile Trust Co. acquired a new stake in Finisar in the fourth quarter valued at approximately $158,000. Hedge funds and other institutional investors own 90.94% 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.

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