Finisar (NASDAQ:FNSR) had its target price upped by research analysts at Piper Jaffray Companies from $22.00 to $28.00 in a research note issued to investors on Wednesday. Piper Jaffray Companies’ price objective indicates a potential upside of 23.24% from the company’s previous close.
A number of other research analysts also recently weighed in on the company. DA Davidson reissued a “buy” rating and issued a $40.00 target price on shares of Finisar in a report on Thursday, September 7th. ValuEngine downgraded Finisar from a “buy” rating to a “hold” rating in a report on Friday, September 1st. B. Riley downgraded Finisar from a “buy” rating to a “neutral” rating and lowered their target price for the company from $31.00 to $22.00 in a report on Wednesday, November 29th. Northland Securities set a $40.00 target price on Finisar and gave the company a “buy” rating in a report on Tuesday, August 29th. Finally, TheStreet downgraded Finisar from a “b” rating to a “c+” rating in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $27.82.
Shares of Finisar (FNSR) opened at $22.72 on Wednesday. The company has a current ratio of 7.81, a quick ratio of 6.31 and a debt-to-equity ratio of 0.44. Finisar has a 12-month low of $17.20 and a 12-month high of $36.41. The company has a market capitalization of $2,702.37, a price-to-earnings ratio of 18.52, a P/E/G ratio of 2.29 and a beta of 1.14.
Finisar (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, beating the 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 analysts’ expectations of $331.69 million. research analysts predict that Finisar will post 0.74 EPS for the current fiscal year.
In other news, Director Roger C. Ferguson sold 2,726 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $21.46, for a total value of $58,499.96. Following the transaction, the director now owns 44,034 shares of the company’s stock, valued at $944,969.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jerry S. Rawls sold 20,000 shares of the firm’s stock in a transaction dated 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. 1.02% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Fortaleza Asset Management Inc. bought a new position in shares of Finisar in the second quarter worth about $138,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Finisar by 103.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after buying an additional 2,912 shares during the period. PNC Financial Services Group Inc. raised its stake in Finisar by 43.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,805 shares during the period. Cubist Systematic Strategies LLC raised its stake in Finisar by 598.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after purchasing an additional 6,001 shares during the period. Finally, Westside Investment Management Inc. raised its stake in Finisar by 33.3% during the 2nd quarter. Westside Investment Management Inc. now owns 8,000 shares of the technology company’s stock valued at $218,000 after purchasing an additional 2,000 shares during the period. 91.45% of the stock is currently owned by hedge funds and other institutional investors.
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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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