Northland Securities set a $40.00 price target on Finisar Corporation (NASDAQ:FNSR) in a research note issued to investors on Tuesday morning. The firm currently has a buy rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Finisar Corporation from a hold rating to a sell rating in a research report on Wednesday, June 21st. B. Riley restated a buy rating and set a $38.00 price target on shares of Finisar Corporation in a research report on Sunday, June 18th. DA Davidson assumed coverage on shares of Finisar Corporation in a research report on Thursday, June 29th. They set a buy rating and a $40.00 price target for the company. ValuEngine lowered shares of Finisar Corporation from a strong-buy rating to a buy rating in a research report on Friday, June 2nd. Finally, Jefferies Group LLC restated a buy rating and set a $34.00 price target on shares of Finisar Corporation in a research report on Friday, May 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. Finisar Corporation currently has an average rating of Buy and a consensus price target of $36.27.

Finisar Corporation (NASDAQ:FNSR) traded down 1.12% during mid-day trading on Tuesday, hitting $23.88. 316,048 shares of the stock traded hands. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 10.90 and a beta of 1.32. Finisar Corporation has a 1-year low of $21.53 and a 1-year high of $36.85. The stock has a 50-day moving average of $25.58 and a 200 day moving average of $26.69.

Finisar Corporation (NASDAQ:FNSR) last released its quarterly earnings results on Thursday, June 15th. The technology company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The business had revenue of $357.50 million during the quarter, compared to analyst estimates of $359.65 million. Finisar Corporation had a net margin of 17.20% and a return on equity of 13.91%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.29 earnings per share. On average, equities analysts expect that Finisar Corporation will post $2.09 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This news story was reported by Watch List News and is the sole property of of Watch List News. If you are accessing this news story on another publication, it was copied illegally and reposted in violation of international trademark and copyright laws. The legal version of this news story can be read at https://www.watchlistnews.com/northland-securities-reiterates-40-00-price-target-for-finisar-corporation-fnsr/1536088.html.

In other Finisar Corporation news, Chairman Jerry S. Rawls sold 25,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $25.93, for a total value of $648,250.00. Following the completion of the sale, the chairman now directly owns 815,188 shares of the company’s stock, valued at approximately $21,137,824.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mark Colyar sold 2,244 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $27.31, for a total transaction of $61,283.64. The disclosure for this sale can be found here. Insiders sold a total of 107,991 shares of company stock valued at $2,905,146 over the last three months. 1.02% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the stock. Nationwide Fund Advisors increased its stake in shares of Finisar Corporation by 10.3% in the first quarter. Nationwide Fund Advisors now owns 359,504 shares of the technology company’s stock worth $9,829,000 after buying an additional 33,676 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Finisar Corporation by 27.6% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 18,500 shares of the technology company’s stock worth $506,000 after buying an additional 4,000 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Finisar Corporation by 86.3% in the first quarter. Russell Investments Group Ltd. now owns 370,476 shares of the technology company’s stock worth $10,129,000 after buying an additional 171,564 shares during the last quarter. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in shares of Finisar Corporation during the first quarter worth $906,000. Finally, Wells Fargo & Company MN increased its stake in shares of Finisar Corporation by 27.0% in the first quarter. Wells Fargo & Company MN now owns 2,329,912 shares of the technology company’s stock worth $63,701,000 after buying an additional 495,132 shares during the last quarter. 86.33% of the stock is owned by institutional investors.

About Finisar Corporation

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.

Analyst Recommendations for Finisar Corporation (NASDAQ:FNSR)

Receive News & Ratings for Finisar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.