Finisar (FNSR) Rating Reiterated by Raymond James Financial
Finisar (NASDAQ:FNSR)‘s stock had its “outperform” rating reiterated by research analysts at Raymond James Financial in a research report issued to clients and investors on Monday.
A number of other equities research analysts also recently commented on FNSR. Goldman Sachs Group downgraded shares of Finisar from a “buy” rating to a “neutral” rating in a research report on Monday, November 6th. Zacks Investment Research raised shares of Finisar from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 7th. B. Riley downgraded shares of Finisar from a “buy” rating to a “neutral” rating and cut their target price for the stock from $31.00 to $22.00 in a research report on Wednesday, November 29th. DA Davidson reaffirmed a “buy” rating and issued a $30.00 target price on shares of Finisar in a research report on Wednesday, November 29th. Finally, Needham & Company LLC cut shares of Finisar from a “strong-buy” rating to a “buy” rating and dropped their price target for the stock from $34.00 to $25.00 in a research note on Monday, December 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $27.02.
Shares of Finisar (NASDAQ:FNSR) opened at $18.15 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. Finisar has a 1 year low of $16.64 and a 1 year high of $35.25. The company has a market cap of $2,069.54, a P/E ratio of 10.37, a price-to-earnings-growth ratio of 1.96 and a beta of 1.02.
In related news, Director Jerry S. Rawls sold 30,209 shares of Finisar stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total transaction of $541,949.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP John H. Clark sold 6,186 shares of Finisar stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total transaction of $154,031.40. Following the transaction, the executive vice president now owns 146,053 shares in the company, valued at approximately $3,636,719.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,578 shares of company stock worth $1,273,865. 1.02% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in shares of Finisar by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 577,972 shares of the technology company’s stock valued at $12,814,000 after buying an additional 11,110 shares in the last quarter. Capital Management Associates NY purchased a new position in shares of Finisar during the 3rd quarter valued at $372,000. Nicholas Investment Partners LP lifted its stake in shares of Finisar by 50.0% during the 3rd quarter. Nicholas Investment Partners LP now owns 283,097 shares of the technology company’s stock valued at $6,276,000 after buying an additional 94,422 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Finisar by 27.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 104,079 shares of the technology company’s stock valued at $2,307,000 after buying an additional 22,725 shares in the last quarter. Finally, American International Group Inc. lifted its stake in shares of Finisar by 8.1% during the 3rd quarter. American International Group Inc. now owns 74,816 shares of the technology company’s stock valued at $1,659,000 after buying an additional 5,594 shares in the last quarter. Institutional investors own 92.46% of the company’s stock.
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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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