Finisar (FNSR) Downgraded to “Sell” at ValuEngine

Finisar (NASDAQ:FNSR) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday.

FNSR has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Finisar from a “sell” rating to a “hold” rating in a report on Monday, August 20th. B. Riley reduced their price target on shares of Finisar from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, September 4th. Morgan Stanley downgraded shares of Finisar from an “overweight” rating to an “equal weight” rating and set a $20.00 price target on the stock. in a report on Thursday, September 13th. Barclays reiterated a “hold” rating and issued a $24.00 price target on shares of Finisar in a report on Sunday, September 9th. Finally, BidaskClub downgraded shares of Finisar from a “sell” rating to a “strong sell” rating in a report on Thursday, July 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. Finisar presently has an average rating of “Hold” and an average price target of $24.28.

Shares of FNSR stock opened at $16.74 on Thursday. The firm has a market cap of $2.23 billion, a PE ratio of 52.31, a PEG ratio of 2.84 and a beta of 1.36. Finisar has a one year low of $14.25 and a one year high of $25.41. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.98 and a current ratio of 3.65.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, September 6th. The technology company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The firm had revenue of $317.30 million for the quarter, compared to the consensus estimate of $315.77 million. Finisar had a negative net margin of 6.71% and a positive return on equity of 1.24%. The company’s revenue was down 7.2% on a year-over-year basis. During the same period last year, the firm earned $0.40 EPS. On average, equities analysts forecast that Finisar will post 0.47 EPS for the current fiscal year.

In other news, Director Jerry S. Rawls sold 30,208 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $16.99, for a total value of $513,233.92. Following the sale, the director now directly owns 553,466 shares in the company, valued at approximately $9,403,387.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jerry S. Rawls sold 40,000 shares of the business’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $18.80, for a total transaction of $752,000.00. Following the completion of the sale, the director now owns 456,171 shares in the company, valued at $8,576,014.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 113,208 shares of company stock worth $2,090,154. Insiders own 1.11% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Advisors Capital Management LLC boosted its stake in shares of Finisar by 6.6% during the 3rd quarter. Advisors Capital Management LLC now owns 181,521 shares of the technology company’s stock worth $3,458,000 after purchasing an additional 11,167 shares during the period. United Services Automobile Association boosted its stake in shares of Finisar by 12.3% during the 2nd quarter. United Services Automobile Association now owns 124,336 shares of the technology company’s stock worth $2,238,000 after purchasing an additional 13,600 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Finisar by 102.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,936,130 shares of the technology company’s stock worth $88,850,000 after purchasing an additional 2,496,574 shares during the period. Glenmede Trust Co. NA boosted its stake in shares of Finisar by 87.4% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,547,161 shares of the technology company’s stock worth $27,848,000 after purchasing an additional 721,583 shares during the period. Finally, Granahan Investment Management Inc. MA boosted its stake in shares of Finisar by 14.6% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 106,954 shares of the technology company’s stock worth $1,925,000 after purchasing an additional 13,656 shares during the period.

Finisar Company Profile

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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