Finisar Corporation (NASDAQ:FNSR) shares saw unusually-high trading volume on Wednesday after ValuEngine upgraded the stock from a hold rating to a buy rating. Approximately 46,840,053 shares traded hands during trading, an increase of 1,192% from the previous session’s volume of 3,626,474 shares.The stock last traded at $23.70 and had previously closed at $19.30.

Several other equities research analysts have also recently commented on FNSR. Zacks Investment Research cut Finisar from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Northland Securities set a $40.00 target price on Finisar and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price target (down previously from $33.00) on shares of Finisar in a report on Tuesday, September 5th. Piper Jaffray Companies reiterated a “buy” rating and issued a $30.00 price target (down previously from $32.00) on shares of Finisar in a report on Tuesday, September 5th. Finally, B. Riley reiterated a “buy” rating and issued a $38.00 price target on shares of Finisar in a report on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $27.82.

In other news, Director Roger C. Ferguson sold 2,726 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $21.46, for a total value of $58,499.96. Following the transaction, the director now owns 44,034 shares in the company, valued at $944,969.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jerry S. Rawls sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total value of $457,800.00. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of FNSR. Pinnacle Associates Ltd. bought a new stake in Finisar during the third quarter worth $28,033,000. Thompson Siegel & Walmsley LLC bought a new stake in Finisar during the second quarter worth $15,474,000. Hood River Capital Management LLC lifted its holdings in Finisar by 177.0% during the second quarter. Hood River Capital Management LLC now owns 841,331 shares of the technology company’s stock worth $21,858,000 after acquiring an additional 537,600 shares during the period. Artemis Investment Management LLP bought a new stake in Finisar during the second quarter worth $12,973,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Finisar by 10.8% during the third 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 during the period. Institutional investors and hedge funds own 91.45% of the company’s stock.

The stock has a market capitalization of $2,200.67, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.87 and a beta of 1.14. The company has a quick ratio of 6.31, a current ratio of 7.81 and a debt-to-equity ratio of 0.44.

Finisar (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate 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%. sell-side analysts forecast that Finisar Corporation will post 0.74 earnings per share for the current fiscal year.

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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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