Finisar (NASDAQ:FNSR) has been given a $33.00 price objective by Northland Securities in a note issued to investors on Friday. The firm currently has a “buy” rating on the technology company’s stock. Northland Securities’ price objective indicates a potential upside of 62.16% from the stock’s current price.
Several other brokerages have also issued reports on FNSR. Raymond James Financial set a $22.00 target price on Finisar and gave the company a “buy” rating in a research report on Wednesday, December 13th. ValuEngine raised Finisar from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th. Craig Hallum set a $28.00 target price on Finisar and gave the company a “buy” rating in a research report on Thursday, December 14th. Jefferies Group began coverage on Finisar in a research report on Wednesday, November 1st. They set a “buy” rating and a $28.50 target price for the company. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $30.00 price target (down previously from $32.00) on shares of Finisar in a research note on Tuesday, September 5th. 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’s stock. The stock presently has an average rating of “Buy” and an average target price of $28.35.
Shares of Finisar (NASDAQ:FNSR) traded down $0.10 during trading on Friday, hitting $20.35. The stock had a trading volume of 2,382,382 shares, compared to its average volume of 3,709,417. Finisar has a 1 year low of $17.20 and a 1 year high of $36.41. The stock has a market cap of $2,352.32, a price-to-earnings ratio of 11.63, a PEG ratio of 2.03 and a beta of 1.14. The company has a current ratio of 7.81, a quick ratio of 6.31 and a debt-to-equity ratio of 0.44.
In other Finisar news, EVP Julie Sheridan Eng sold 1,466 shares of the firm’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $21.70, for a total value of $31,812.20. Following the completion of the transaction, the executive vice president now owns 69,150 shares in the company, valued at approximately $1,500,555. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Roger C. Ferguson sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $21.68, for a total value of $65,040.00. Following the completion of the transaction, the director now owns 41,034 shares of the company’s stock, valued at approximately $889,617.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,369 shares of company stock valued at $1,189,715. 1.02% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank boosted its position in shares of Finisar by 2.9% during the 2nd quarter. Amalgamated Bank now owns 13,912 shares of the technology company’s stock valued at $361,000 after acquiring an additional 396 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Finisar by 5.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,795 shares of the technology company’s stock valued at $254,000 after acquiring an additional 507 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of Finisar by 1.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 61,782 shares of the technology company’s stock valued at $1,605,000 after acquiring an additional 684 shares during the last quarter. Kennedy Capital Management Inc. boosted its position in shares of Finisar by 0.3% during the 2nd quarter. Kennedy Capital Management Inc. now owns 249,638 shares of the technology company’s stock valued at $6,486,000 after acquiring an additional 860 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of Finisar by 20.6% during the 2nd quarter. Advisory Services Network LLC now owns 8,500 shares of the technology company’s stock valued at $221,000 after acquiring an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors own 91.21% of the company’s stock.
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.
