Finisar Corp. (NASDAQ:FNSR) had its price target hoisted by Needham & Company LLC from $32.00 to $36.00 in a report issued on Monday morning. They currently have a buy rating on the stock.

Analyst Recommendations for Finisar Corp. (NASDAQ:FNSR)

A number of other research firms have also weighed in on FNSR. Zacks Investment Research raised shares of Finisar Corp. from a hold rating to a strong-buy rating and set a $32.00 target price for the company in a research report on Wednesday, September 14th. B. Riley reaffirmed a buy rating and set a $32.25 price objective on shares of Finisar Corp. in a research report on Sunday, September 11th. Stifel Nicolaus upped their price objective on shares of Finisar Corp. from $28.00 to $33.00 and gave the company a buy rating in a research report on Monday, September 12th. Barclays PLC upped their price objective on shares of Finisar Corp. from $20.00 to $27.00 and gave the company an equal weight rating in a research report on Friday, September 9th. Finally, Goldman Sachs Group Inc. upped their price objective on shares of Finisar Corp. from $21.00 to $24.00 and gave the company a neutral rating in a research report on Friday, September 9th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Finisar Corp. presently has a consensus rating of Buy and an average target price of $27.57.

Shares of Finisar Corp. (NASDAQ:FNSR) opened at 28.93 on Monday. Finisar Corp. has a 12-month low of $10.66 and a 12-month high of $29.25. The company has a market cap of $3.19 billion, a PE ratio of 56.61 and a beta of 1.39. The stock’s 50 day moving average price is $22.53 and its 200-day moving average price is $18.65.

Finisar Corp. (NASDAQ:FNSR) last released its earnings results on Thursday, September 8th. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.08. The firm earned $341.30 million during the quarter, compared to analyst estimates of $331.34 million. Finisar Corp. had a net margin of 4.32% and a return on equity of 7.61%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.23 EPS. On average, equities research analysts forecast that Finisar Corp. will post $1.73 earnings per share for the current year.

In other Finisar Corp. news, EVP Joseph A. Young sold 6,473 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $19.90, for a total transaction of $128,812.70. Following the sale, the executive vice president now directly owns 246,543 shares of the company’s stock, valued at $4,906,205.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher Brown sold 2,470 shares of the company’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $26.50, for a total transaction of $65,455.00. Following the sale, the executive vice president now directly owns 128,637 shares in the company, valued at $3,408,880.50. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Strs Ohio boosted its stake in Finisar Corp. by 20.4% in the second quarter. Strs Ohio now owns 6,500 shares of the company’s stock valued at $113,000 after buying an additional 1,100 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Finisar Corp. by 12.9% in the second quarter. Public Employees Retirement System of Ohio now owns 7,297 shares of the company’s stock valued at $128,000 after buying an additional 836 shares during the period. Seven Eight Capital LLC bought a new stake in Finisar Corp. during the second quarter valued at approximately $138,000. BlackRock Inc. boosted its stake in Finisar Corp. by 71.5% in the first quarter. BlackRock Inc. now owns 8,607 shares of the company’s stock valued at $156,000 after buying an additional 3,589 shares during the period. Finally, Prudential Financial Inc. bought a new stake in Finisar Corp. during the second quarter valued at approximately $191,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Finisar Corp. 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.

5 Day Chart for NASDAQ:FNSR

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