Finisar (FNSR) Stock Rating Reaffirmed by William Blair
Finisar (NASDAQ:FNSR)‘s stock had its “buy” rating reaffirmed by equities researchers at William Blair in a research report issued on Friday.
Several other research firms have also recently issued reports on FNSR. Northland Securities set a $40.00 price target on Finisar and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Zacks Investment Research raised Finisar from a “sell” rating to a “hold” rating and set a $27.00 price target for the company in a research note on Tuesday, August 15th. Jefferies Group assumed coverage on Finisar in a research note on Wednesday, November 1st. They issued a “buy” rating and a $28.50 price target for the company. Piper Jaffray Companies reissued a “buy” rating and issued a $30.00 price target (down previously from $32.00) on shares of Finisar in a research note on Tuesday, September 5th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price target (down previously from $33.00) on shares of Finisar in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $27.95.
Finisar (NASDAQ FNSR) opened at $18.27 on Friday. The company has a market capitalization of $2,058.14, a price-to-earnings ratio of 14.10, a P/E/G ratio of 1.29 and a beta of 1.14. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.24 and a current ratio of 7.66. Finisar has a 52 week low of $17.20 and a 52 week high of $36.85.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings data 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 firm had revenue of $332.21 million during the quarter, compared to the consensus estimate of $331.69 million. Finisar had a return on equity of 9.68% and a net margin of 14.33%. analysts anticipate that Finisar will post 1.02 earnings per share for the current year.
In other news, Director Roger C. Ferguson sold 2,726 shares of the company’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $21.46, for a total transaction of $58,499.96. Following the completion of the sale, the director now directly owns 44,034 shares of the company’s stock, valued at $944,969.64. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Finisar by 3.6% during the third quarter. Public Employees Retirement System of Ohio now owns 97,201 shares of the technology company’s stock valued at $2,155,000 after purchasing an additional 3,341 shares during the last quarter. Argent Capital Management LLC purchased a new stake in shares of Finisar during the third quarter valued at $687,000. Janney Montgomery Scott LLC purchased a new stake in shares of Finisar during the third quarter valued at $217,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Finisar by 103.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock valued at $127,000 after purchasing an additional 2,912 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Finisar by 598.3% during the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after purchasing an additional 6,001 shares during the last quarter. 91.45% of the stock is owned by institutional investors and hedge funds.
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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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