Finisar Target of Unusually Large Options Trading (NASDAQ:FNSR)

Finisar Co. (NASDAQ:FNSR) was the target of unusually large options trading activity on Wednesday. Stock traders purchased 2,025 put options on the stock. This is an increase of 3,794% compared to the typical daily volume of 52 put options.

Several equities research analysts recently issued reports on the stock. BidaskClub cut shares of Finisar from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th. B. Riley reissued a “neutral” rating on shares of Finisar in a research report on Friday, June 14th. Stifel Nicolaus set a $23.00 price target on shares of Finisar and gave the company a “hold” rating in a research report on Friday, June 14th. Finally, MKM Partners reduced their price target on shares of Finisar from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $26.31.

FNSR stock traded up $0.12 during midday trading on Thursday, reaching $23.37. 35,579 shares of the company’s stock traded hands, compared to its average volume of 1,433,294. The company has a market capitalization of $2.76 billion, a P/E ratio of 39.58, a PEG ratio of 2.60 and a beta of 1.52. The company has a debt-to-equity ratio of 0.32, a current ratio of 6.84 and a quick ratio of 5.38. Finisar has a fifty-two week low of $15.81 and a fifty-two week high of $24.77. The business has a 50-day moving average price of $22.90 and a two-hundred day moving average price of $23.08.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, June 13th. The technology company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $310.09 million for the quarter, compared to analysts’ expectations of $323.42 million. Finisar had a negative net margin of 3.48% and a positive return on equity of 4.62%. As a group, research analysts forecast that Finisar will post 0.73 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Natixis lifted its position in Finisar by 2,200.3% during the second quarter. Natixis now owns 252,068 shares of the technology company’s stock valued at $5,765,000 after buying an additional 241,110 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Finisar by 6.0% during the second quarter. Royal Bank of Canada now owns 14,728 shares of the technology company’s stock worth $336,000 after purchasing an additional 831 shares in the last quarter. UBS Group AG lifted its position in shares of Finisar by 8.8% during the second quarter. UBS Group AG now owns 3,865,792 shares of the technology company’s stock worth $88,410,000 after purchasing an additional 311,590 shares in the last quarter. United Services Automobile Association lifted its position in shares of Finisar by 0.8% during the second quarter. United Services Automobile Association now owns 142,117 shares of the technology company’s stock worth $3,250,000 after purchasing an additional 1,094 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in shares of Finisar during the second quarter worth $14,736,000. 99.70% of the stock is currently owned by hedge funds and other institutional investors.

About Finisar

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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