Shares of Finisar Co. (NASDAQ:FNSR) have been given a consensus recommendation of “Hold” by the twenty brokerages that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.45.

Several equities analysts have recently weighed in on FNSR shares. BidaskClub upgraded Finisar from a “strong sell” rating to a “sell” rating in a report on Saturday, August 4th. Morgan Stanley downgraded Finisar from an “overweight” rating to an “equal weight” rating and set a $20.00 price target for the company. in a report on Thursday, September 13th. B. Riley reduced their price target on Finisar from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Tuesday, September 4th. Loop Capital reduced their price target on Finisar to $20.00 and set a “hold” rating for the company in a report on Friday, September 7th. Finally, Piper Jaffray Companies upgraded Finisar from a “neutral” rating to an “overweight” rating and raised their price target for the company from $18.00 to $26.00 in a report on Thursday, August 23rd.

Shares of NASDAQ:FNSR traded up $0.57 on Thursday, hitting $17.85. 94,404 shares of the company traded hands, compared to its average volume of 3,143,639. 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 current ratio of 3.65 and a quick ratio of 2.98. The company has a market capitalization of $2.23 billion, a PE ratio of 55.19, a PEG ratio of 2.84 and a beta of 1.36.

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

In related news, Director Jerry S. Rawls sold 30,208 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $16.99, for a total transaction of $513,233.92. Following the sale, the director now directly owns 553,466 shares of the company’s stock, valued at $9,403,387.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jerry S. Rawls sold 40,000 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $19.24, for a total value of $769,600.00. Following the sale, the director now directly owns 483,258 shares in the company, valued at $9,297,883.92. The disclosure for this sale can be found here. Insiders have sold 113,208 shares of company stock worth $2,090,154 over the last ninety days. 1.11% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in FNSR. Bank of New York Mellon Corp boosted its position in Finisar by 102.3% in the second 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 last quarter. Dimensional Fund Advisors LP boosted its position in Finisar by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,915,553 shares of the technology company’s stock worth $160,479,000 after purchasing an additional 1,328,867 shares during the last quarter. DnB Asset Management AS boosted its position in Finisar by 16.5% in the second quarter. DnB Asset Management AS now owns 6,826,104 shares of the technology company’s stock worth $122,870,000 after purchasing an additional 964,507 shares during the last quarter. Principal Financial Group Inc. boosted its position in Finisar by 4,319.7% in the first quarter. Principal Financial Group Inc. now owns 890,383 shares of the technology company’s stock worth $14,077,000 after purchasing an additional 870,237 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its position in Finisar by 87.4% in the second 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 last quarter.

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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Analyst Recommendations for Finisar (NASDAQ:FNSR)

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