Finisar (FNSR) Receives Hold Rating from Barclays
Barclays reissued their hold rating on shares of Finisar (NASDAQ:FNSR) in a research note published on Wednesday morning. They currently have a $18.00 price objective on the technology company’s stock.
FNSR has been the subject of a number of other reports. Piper Jaffray Companies restated a buy rating and issued a $22.00 target price on shares of Finisar in a report on Friday, December 8th. Needham & Company LLC restated a strong-buy rating and issued a $34.00 target price (down from $44.00) on shares of Finisar in a report on Friday, September 8th. Zacks Investment Research upgraded shares of Finisar from a strong sell rating to a hold rating in a report on Friday, December 1st. William Blair restated an ourperform rating on shares of Finisar in a report on Thursday, September 7th. Finally, Northland Securities set a $40.00 target price on shares of Finisar and gave the company a buy rating in a report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Finisar currently has an average rating of Buy and a consensus target price of $27.82.
Finisar (NASDAQ FNSR) traded down $0.98 during trading hours on Wednesday, hitting $22.72. 13,633,855 shares of the stock were exchanged, compared to its average volume of 3,626,595. The company has a current ratio of 7.81, a quick ratio of 6.31 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $2,200.67, a price-to-earnings ratio of 15.08, a PEG ratio of 1.87 and a beta of 1.14. Finisar has a twelve month low of $17.20 and a twelve month high of $36.41.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $332.21 million during the quarter, compared to analyst estimates of $331.69 million. Finisar had a net margin of 14.33% and a return on equity of 9.51%. equities analysts expect that Finisar will post 0.74 earnings per share for the current year.
In other news, Chairman Jerry S. Rawls sold 20,000 shares of the company’s stock in a transaction on 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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger C. Ferguson sold 2,726 shares of the company’s stock in a transaction on Friday, September 22nd. The shares were 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 of the company’s stock, valued at $944,969.64. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in FNSR. Pinnacle Associates Ltd. purchased a new position in shares of Finisar in the third quarter valued at $28,033,000. Thompson Siegel & Walmsley LLC acquired a new stake in Finisar in the second quarter valued at $15,474,000. Hood River Capital Management LLC raised its holdings in Finisar by 177.0% in the second quarter. Hood River Capital Management LLC now owns 841,331 shares of the technology company’s stock valued at $21,858,000 after acquiring an additional 537,600 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in Finisar in the second quarter valued at $12,973,000. Finally, Dimensional Fund Advisors LP raised its holdings in Finisar by 10.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock valued at $107,146,000 after acquiring an additional 471,882 shares in the last quarter. Institutional investors and hedge funds own 91.45% 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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