Barclays Analysts Give Finisar (FNSR) a $25.00 Price Target
FNSR has been the subject of a number of other reports. Piper Jaffray Companies reissued a buy rating and set a $22.00 price objective on shares of Finisar in a report on Friday, December 8th. Zacks Investment Research lowered Finisar from a hold rating to a sell rating in a report on Wednesday, December 13th. Needham & Company LLC lowered Finisar from a strong-buy rating to a buy rating and decreased their price objective for the stock from $34.00 to $25.00 in a report on Monday, December 4th. Craig Hallum reissued a buy rating on shares of Finisar in a report on Tuesday, January 2nd. Finally, BidaskClub raised Finisar from a strong sell rating to a sell rating in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $28.82.
Shares of Finisar (NASDAQ:FNSR) traded up $0.48 during trading on Thursday, reaching $22.74. The company had a trading volume of 4,094,262 shares, compared to its average volume of 2,726,656. Finisar has a twelve month low of $17.20 and a twelve month high of $36.41. The company has a market cap of $2,590.00, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 2.24 and a beta of 1.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31.
In other news, EVP John H. Clark sold 6,186 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $24.90, for a total value of $154,031.40. Following the completion of the transaction, the executive vice president now directly owns 146,053 shares of the company’s stock, valued at $3,636,719.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Jerry S. Rawls sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were 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. Over the last ninety days, insiders sold 52,369 shares of company stock valued at $1,189,715. 1.02% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the company. DnB Asset Management AS grew its holdings in shares of Finisar by 22.9% in the fourth quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock valued at $45,758,000 after acquiring an additional 419,120 shares in the last quarter. Aurora Investment Counsel purchased a new position in Finisar in the fourth quarter valued at approximately $1,569,000. Parametric Portfolio Associates LLC lifted its stake in Finisar by 9.4% in the third quarter. Parametric Portfolio Associates LLC now owns 590,476 shares of the technology company’s stock valued at $13,091,000 after purchasing an additional 50,839 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Finisar by 3.6% in the third quarter. Public Employees Retirement System of Ohio now owns 97,201 shares of the technology company’s stock valued at $2,155,000 after purchasing an additional 3,341 shares during the last quarter. Finally, Argent Capital Management LLC purchased a new position in Finisar in the third quarter valued at approximately $687,000. 91.28% of the stock is owned by 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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