Finisar Corporation (FNSR) Receives Average Rating of “Buy” from Brokerages
Finisar Corporation (NASDAQ:FNSR) has been assigned a consensus recommendation of “Buy” from the nineteen ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, ten have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $27.56.
A number of research firms have recently weighed in on FNSR. Northland Securities set a $40.00 target price on shares of Finisar and gave the stock a “buy” rating in a report on Tuesday, August 29th. Raymond James Financial set a $22.00 price target on shares of Finisar and gave the company a “buy” rating in a report on Wednesday. ValuEngine upgraded shares of Finisar from a “hold” rating to a “buy” rating in a report on Thursday. Craig Hallum reiterated a “buy” rating and set a $28.00 price target (up from $24.00) on shares of Finisar in a report on Thursday. Finally, Jefferies Group assumed coverage on shares of Finisar in a report on Wednesday, November 1st. They set a “buy” rating and a $28.50 price target on the stock.
Finisar (NASDAQ:FNSR) traded down $0.98 during trading on Friday, hitting $22.72. 13,656,899 shares of the stock were exchanged, compared to its average volume of 3,668,248. Finisar has a 12-month low of $17.20 and a 12-month high of $36.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.31 and a current ratio of 7.81. The company has a market cap of $2,702.37, a P/E ratio of 18.52, a PEG ratio of 2.29 and a beta of 1.14.
In other Finisar news, Chairman Jerry S. Rawls sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total value of $457,800.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Roger C. Ferguson sold 2,726 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $21.46, for a total transaction of $58,499.96. Following the completion of the transaction, the director now owns 44,034 shares in the company, valued at $944,969.64. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Capital Research Global Investors grew its stake in Finisar by 2.7% in the 2nd quarter. Capital Research Global Investors now owns 13,651,050 shares of the technology company’s stock worth $354,654,000 after acquiring an additional 359,709 shares in the last quarter. Vanguard Group Inc. grew its stake in Finisar by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock worth $231,435,000 after acquiring an additional 208,692 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Finisar by 10.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock worth $107,146,000 after acquiring an additional 471,882 shares in the last quarter. Northern Trust Corp grew its stake in Finisar by 3.8% in the 2nd quarter. Northern Trust Corp now owns 2,907,058 shares of the technology company’s stock worth $75,525,000 after acquiring an additional 107,680 shares in the last quarter. Finally, State Street Corp grew its stake in Finisar by 5.9% in the 2nd quarter. State Street Corp now owns 2,199,440 shares of the technology company’s stock worth $57,141,000 after acquiring an additional 121,724 shares in the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.
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Finisar 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.
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