Finisar (FNSR) Stock Rating Lowered by Jefferies Financial Group
Finisar (NASDAQ:FNSR) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Thursday, MarketBeat Ratings reports.
Several other research analysts have also weighed in on the stock. Morgan Stanley lowered shares of Finisar from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective on the stock. in a research note on Thursday, September 13th. ValuEngine upgraded shares of Finisar from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. B. Riley lowered their price objective on shares of Finisar from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 4th. Loop Capital lowered their price objective on shares of Finisar to $20.00 and set a “hold” rating on the stock in a research note on Friday, September 7th. Finally, Piper Jaffray Companies upgraded shares of Finisar from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $26.00 in a research note on Thursday, August 23rd. Twelve research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $25.25.
Finisar stock opened at $22.49 on Thursday. The stock has a market cap of $2.70 billion, a PE ratio of 70.28, a PEG ratio of 4.11 and a beta of 1.56. Finisar has a fifty-two week low of $14.25 and a fifty-two week high of $25.41. The company has a current ratio of 3.69, a quick ratio of 2.98 and a debt-to-equity ratio of 0.31.
In related news, Director Roger C. Ferguson sold 3,000 shares of the company’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $18.44, for a total value of $55,320.00. Following the transaction, the director now owns 32,920 shares in the company, valued at approximately $607,044.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Jerry S. Rawls sold 40,000 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $23.03, for a total transaction of $921,200.00. Following the completion of the transaction, the director now owns 416,171 shares in the company, valued at approximately $9,584,418.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 113,208 shares of company stock worth $2,235,108. 1.11% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC boosted its holdings in Finisar by 28.6% in the 2nd quarter. FMR LLC now owns 2,987,300 shares of the technology company’s stock valued at $53,771,000 after purchasing an additional 664,490 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Finisar in the 2nd quarter valued at about $841,000. TCW Group Inc. boosted its holdings in Finisar by 43.6% in the 3rd quarter. TCW Group Inc. now owns 37,774 shares of the technology company’s stock valued at $720,000 after purchasing an additional 11,463 shares during the period. Lumina Fund Management LLC boosted its holdings in Finisar by 10.3% in the 2nd quarter. Lumina Fund Management LLC now owns 30,000 shares of the technology company’s stock valued at $540,000 after purchasing an additional 2,800 shares during the period. Finally, Glenmede Trust Co. NA boosted its holdings in Finisar by 87.4% in the 2nd quarter. Glenmede Trust Co. NA now owns 1,547,161 shares of the technology company’s stock valued at $27,848,000 after purchasing an additional 721,583 shares during the period. 99.40% of the stock is owned by hedge funds and other institutional investors.
Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.
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