Finisar Co. (NASDAQ:FNSR) shares dropped 0% during mid-day trading on Tuesday . The stock traded as low as $21.16 and last traded at $21.43. Approximately 6,597,996 shares changed hands during mid-day trading, an increase of 112% from the average daily volume of 3,113,787 shares. The stock had previously closed at $21.43.

FNSR has been the subject of several research analyst reports. TheStreet cut Finisar from a “b” rating to a “c+” rating in a research report on Thursday, November 2nd. Zacks Investment Research cut Finisar from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Jefferies Group began coverage on Finisar in a research report on Wednesday, November 1st. They issued a “buy” rating and a $28.50 price target for the company. Piper Jaffray Companies raised their price target on Finisar from $22.00 to $28.00 in a research report on Wednesday, December 13th. Finally, Stifel Nicolaus dropped their price target on Finisar from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, December 6th. Three analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $27.75.

The company has a quick ratio of 6.31, a current ratio of 7.81 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $2,440.00, a P/E ratio of 12.25, a PEG ratio of 2.24 and a beta of 1.15.

Finisar (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Finisar had a return on equity of 9.51% and a net margin of 14.33%. The firm had revenue of $332.21 million for the quarter, compared to analyst estimates of $331.69 million. research analysts expect that Finisar Co. will post 0.73 EPS for the current fiscal year.

In other news, Chairman Jerry S. Rawls sold 20,000 shares of Finisar stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $22.89, for a total value of $457,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Roger C. Ferguson sold 3,000 shares of Finisar stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $21.68, for a total value of $65,040.00. Following the completion of the transaction, the director now directly owns 41,034 shares in the company, valued at $889,617.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,369 shares of company stock worth $1,189,715. 1.02% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its stake in shares of Finisar by 12.9% in the 2nd quarter. Voya Investment Management LLC now owns 51,499 shares of the technology company’s stock valued at $1,338,000 after purchasing an additional 5,883 shares in the last quarter. Endurance Wealth Management Inc. lifted its stake in shares of Finisar by 506.1% in the 3rd quarter. Endurance Wealth Management Inc. now owns 279,184 shares of the technology company’s stock valued at $6,190,000 after purchasing an additional 233,125 shares in the last quarter. Fondren Management LP acquired a new position in shares of Finisar in the 2nd quarter valued at about $325,000. Numeric Investors LLC acquired a new position in shares of Finisar in the 2nd quarter valued at about $405,000. Finally, California Public Employees Retirement System lifted its stake in shares of Finisar by 2.6% in the 2nd quarter. California Public Employees Retirement System now owns 202,800 shares of the technology company’s stock valued at $5,269,000 after purchasing an additional 5,200 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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About Finisar

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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