ValuEngine upgraded shares of Finisar (NASDAQ:FNSR) from a hold rating to a buy rating in a report published on Wednesday morning.
FNSR has been the subject of several other research reports. BidaskClub upgraded shares of Finisar from a strong sell rating to a sell rating in a research note on Saturday, August 4th. Piper Jaffray Companies upgraded shares of Finisar from a neutral rating to an overweight rating and boosted their price objective for the stock from $18.00 to $26.00 in a research note on Thursday, August 23rd. Loop Capital reduced their price objective on shares of Finisar to $20.00 and set a hold rating for the company in a research note on Friday, September 7th. Raymond James lowered shares of Finisar from an outperform rating to a market perform rating in a research note on Wednesday, August 22nd. Finally, Cascend Securities started coverage on shares of Finisar in a research note on Friday, July 13th. They set a buy rating and a $25.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $23.46.
Shares of NASDAQ:FNSR traded up $2.91 during trading hours on Wednesday, hitting $21.79. The company’s stock had a trading volume of 23,730,518 shares, compared to its average volume of 1,772,471. Finisar has a 52 week low of $14.25 and a 52 week 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. The firm has a market cap of $2.10 billion, a P/E ratio of 99.61, a P/E/G ratio of 3.10 and a beta of 1.42.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, September 6th. The technology company reported $0.18 EPS for the quarter, beating the 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 analyst estimates of $315.77 million. During the same quarter in the previous year, the business posted $0.40 EPS. The company’s quarterly revenue was down 7.2% compared to the same quarter last year. On average, research analysts predict that Finisar will post 0.47 EPS for the current fiscal year.
In other Finisar news, Director Roger C. Ferguson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $18.44, for a total transaction of $55,320.00. Following the sale, the director now owns 32,920 shares of the company’s stock, valued at approximately $607,044.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jerry S. Rawls sold 30,208 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $16.77, for a total transaction of $506,588.16. Following the sale, the director now directly owns 486,379 shares in the company, valued at approximately $8,156,575.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,208 shares of company stock worth $2,083,508. 1.11% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC purchased a new stake in Finisar during the 2nd quarter worth approximately $185,000. Cornerstone Wealth Management LLC purchased a new stake in Finisar during the 3rd quarter worth approximately $210,000. First Mercantile Trust Co. grew its position in Finisar by 42.7% during the 3rd quarter. First Mercantile Trust Co. now owns 12,070 shares of the technology company’s stock worth $230,000 after purchasing an additional 3,610 shares during the last quarter. Xact Kapitalforvaltning AB grew its position in Finisar by 27.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 16,511 shares of the technology company’s stock worth $261,000 after purchasing an additional 3,600 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC purchased a new stake in Finisar during the 3rd quarter worth approximately $277,000.
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.
Featured Article: Risk Tolerance and Your Investment Decisions
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Finisar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar and related companies with MarketBeat.com's FREE daily email newsletter.