Finisar (FNSR) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of Finisar (NASDAQ:FNSR) from a hold rating to a buy rating in a research report report published on Thursday morning.
A number of other research firms have also commented on FNSR. William Blair reiterated an outperform rating on shares of Finisar in a research note on Thursday, September 14th. Goldman Sachs Group reiterated a buy rating and issued a $32.00 price objective (down from $37.00) on shares of Finisar in a research note on Friday, September 8th. MKM Partners reiterated a buy rating and issued a $31.00 price objective (down from $33.00) on shares of Finisar in a research note on Monday, September 11th. DA Davidson reiterated a buy rating and issued a $30.00 price objective on shares of Finisar in a research note on Wednesday, November 29th. Finally, Piper Jaffray Companies lifted their price objective on Finisar from $22.00 to $28.00 in a research note on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $27.82.
Finisar (NASDAQ FNSR) opened at $22.05 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. The company has a market capitalization of $2,514.23, a PE ratio of 17.23, a PEG ratio of 2.13 and a beta of 1.14. Finisar has a 12 month low of $17.20 and a 12 month high of $36.41.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $332.21 million for the quarter, compared to analyst estimates of $331.69 million. Finisar had a return on equity of 9.51% and a net margin of 14.33%. research analysts predict that Finisar will post 0.74 EPS for the current fiscal year.
In related news, EVP John H. Clark sold 6,186 shares of Finisar stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $24.90, for a total transaction of $154,031.40. Following the sale, 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 document filed with the SEC, which can be accessed through this link. Also, Director Roger C. Ferguson sold 2,726 shares of Finisar stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $21.46, for a total value of $58,499.96. Following the sale, the director now directly owns 44,034 shares in the company, valued at $944,969.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,912 shares of company stock worth $670,331. 1.02% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in FNSR. Fortaleza Asset Management Inc. acquired a new stake in Finisar during the second quarter valued at approximately $138,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Finisar by 103.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock valued at $127,000 after purchasing an additional 2,912 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Finisar by 43.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,805 shares in the last quarter. Cubist Systematic Strategies LLC boosted its holdings in Finisar by 598.3% during the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after purchasing an additional 6,001 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in Finisar by 33.3% during the second quarter. Westside Investment Management Inc. now owns 8,000 shares of the technology company’s stock valued at $218,000 after purchasing an additional 2,000 shares in the last quarter. 91.45% of the stock is currently owned by institutional investors and hedge funds.
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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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