Shares of Finisar Co. (NASDAQ:FNSR) have been given a consensus recommendation of “Hold” by the twenty ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $23.83.
FNSR has been the subject of a number of recent research reports. BidaskClub raised shares of Finisar from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 4th. Zacks Investment Research raised shares of Finisar from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Piper Jaffray Companies upgraded shares of Finisar from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $26.00 in a research report on Thursday, August 23rd. B. Riley decreased their target price on shares of Finisar from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 4th. Finally, Raymond James lowered shares of Finisar from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 22nd.
Shares of FNSR traded down $0.21 during mid-day trading on Friday, reaching $18.77. 2,547,967 shares of the company’s stock were exchanged, compared to its average volume of 3,146,374. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 2.98. Finisar has a 52-week low of $14.25 and a 52-week high of $25.41. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of 58.66, a price-to-earnings-growth ratio of 2.94 and a beta of 1.38.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 6th. The technology company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.06. Finisar had a negative net margin of 6.71% and a positive return on equity of 1.24%. The business had revenue of $317.30 million during the quarter, compared to analysts’ expectations of $315.77 million. During the same period last year, the company posted $0.40 EPS. The company’s revenue was down 7.2% on a year-over-year basis. equities analysts expect that Finisar will post 0.47 earnings per share for the current fiscal year.
In other Finisar news, Director Roger C. Ferguson sold 3,000 shares of Finisar stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $17.77, for a total value of $53,310.00. Following the transaction, the director now owns 25,784 shares in the company, valued at approximately $458,181.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jerry S. Rawls sold 40,000 shares of Finisar stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $19.24, for a total transaction of $769,600.00. Following the completion of the transaction, the director now owns 483,258 shares in the company, valued at approximately $9,297,883.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,033 shares of company stock worth $2,299,466. 1.11% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in FNSR. Glen Harbor Capital Management LLC acquired a new position in shares of Finisar in the 1st quarter valued at $122,000. Victory Capital Management Inc. boosted its holdings in shares of Finisar by 66.2% in the 1st quarter. Victory Capital Management Inc. now owns 7,763 shares of the technology company’s stock valued at $123,000 after purchasing an additional 3,091 shares during the last quarter. Tyers Asset Management LLC acquired a new position in shares of Finisar in the 1st quarter valued at $167,000. Janus Henderson Group PLC acquired a new position in shares of Finisar in the 2nd quarter valued at $185,000. Finally, Riverhead Capital Management LLC acquired a new position in shares of Finisar in the 1st quarter valued at $190,000.
Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.
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