Finisar Corporation (FNSR) Sets New 12-Month Low at $18.11
Finisar Corporation (NASDAQ:FNSR)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $18.11 and last traded at $18.17, with a volume of 2930189 shares changing hands. The stock had previously closed at $18.73.
A number of research firms recently commented on FNSR. Zacks Investment Research upgraded Finisar Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Goldman Sachs Group, Inc. (The) cut Finisar Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, November 6th. TheStreet cut Finisar Corporation from a “b” rating to a “c+” rating in a research note on Thursday, November 2nd. Jefferies Group LLC assumed coverage on Finisar Corporation in a research note on Wednesday, November 1st. They set a “buy” rating and a $28.50 price objective on the stock. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $26.00 price objective on shares of Finisar Corporation in a research note on Sunday, September 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $32.60.
The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.24 and a current ratio of 7.66. The firm has a market cap of $2,081.86, a price-to-earnings ratio of 10.95, a P/E/G ratio of 1.26 and a beta of 1.19.
Finisar Corporation (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The firm had revenue of $341.80 million during the quarter, compared to analyst estimates of $341.22 million. During the same quarter in the prior year, the business posted $0.38 EPS. The business’s revenue for the quarter was up .1% compared to the same quarter last year. equities research analysts predict that Finisar Corporation will post 1.05 earnings per share for the current year.
In related news, Chairman Jerry S. Rawls sold 20,000 shares of the firm’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 document filed with the SEC, which is available through this link. Also, EVP Todd Swanson sold 6,202 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $24.34, for a total transaction of $150,956.68. Following the completion of the transaction, the executive vice president now directly owns 217,005 shares in the company, valued at $5,281,901.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,928 shares of company stock worth $667,257. 1.02% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Prudential Financial Inc. increased its stake in shares of Finisar Corporation by 0.8% during the first quarter. Prudential Financial Inc. now owns 15,535 shares of the technology company’s stock worth $425,000 after acquiring an additional 120 shares during the period. Teacher Retirement System of Texas grew its position in Finisar Corporation by 1.6% during the second quarter. Teacher Retirement System of Texas now owns 8,890 shares of the technology company’s stock worth $231,000 after buying an additional 136 shares during the period. Virginia Retirement Systems ET AL grew its position in Finisar Corporation by 0.3% during the second quarter. Virginia Retirement Systems ET AL now owns 91,600 shares of the technology company’s stock worth $2,380,000 after buying an additional 300 shares during the period. Amalgamated Bank grew its position in Finisar Corporation by 2.9% during the second quarter. Amalgamated Bank now owns 13,912 shares of the technology company’s stock worth $361,000 after buying an additional 396 shares during the period. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Finisar Corporation by 5.5% in the second quarter. Ameritas Investment Partners Inc. now owns 9,795 shares of the technology company’s stock valued at $254,000 after purchasing an additional 507 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.
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About Finisar Corporation
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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