Finisar Corp. (NASDAQ:FNSR) Receives $28.73 Average PT from Analysts
Shares of Finisar Corp. (NASDAQ:FNSR) have earned a consensus rating of “Buy” from the thirteen ratings firms that are currently covering the company. Four investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $28.73.
A number of analysts have recently weighed in on the stock. B. Riley reissued a “buy” rating and set a $24.50 price target on shares of Finisar Corp. in a research report on Sunday, June 19th. Piper Jaffray Cos. reissued a “buy” rating and set a $20.00 price target on shares of Finisar Corp. in a research report on Wednesday, June 15th. Zacks Investment Research downgraded shares of Finisar Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $24.00 price target (up previously from $22.00) on shares of Finisar Corp. in a research report on Tuesday, June 14th.
In related news, Director Roger C. Ferguson sold 2,853 shares of Finisar Corp. stock in a transaction dated Thursday, September 22nd. The shares were sold at an average price of $29.05, for a total transaction of $82,879.65. Following the sale, the director now directly owns 42,140 shares in the company, valued at $1,224,167. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Jerry S. Rawls sold 30,000 shares of Finisar Corp. stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $28.58, for a total transaction of $857,400.00. Following the sale, the chairman now owns 779,464 shares in the company, valued at $22,277,081.12. The disclosure for this sale can be found here. 1.34% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Capital Research Global Investors boosted its stake in shares of Finisar Corp. by 9.3% in the second quarter. Capital Research Global Investors now owns 12,815,280 shares of the company’s stock worth $224,396,000 after buying an additional 1,086,000 shares in the last quarter. Rothschild Asset Management Inc. bought a new stake in shares of Finisar Corp. during the second quarter worth $18,788,000. Dimensional Fund Advisors LP boosted its stake in shares of Finisar Corp. by 22.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,181,610 shares of the company’s stock worth $90,729,000 after buying an additional 962,855 shares in the last quarter. Maplelane Capital LLC bought a new stake in shares of Finisar Corp. during the second quarter worth $10,409,000. Finally, Quentec Asset Management LLC boosted its stake in shares of Finisar Corp. by 358.3% in the first quarter. Quentec Asset Management LLC now owns 759,263 shares of the company’s stock worth $13,849,000 after buying an additional 593,589 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.
Shares of Finisar Corp. (NASDAQ:FNSR) opened at 29.82 on Monday. The stock has a market capitalization of $3.29 billion, a P/E ratio of 58.36 and a beta of 1.39. The stock has a 50 day moving average of $23.99 and a 200-day moving average of $19.18. Finisar Corp. has a 1-year low of $10.66 and a 1-year high of $30.19.
Finisar Corp. (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.08. Finisar Corp. had a net margin of 4.32% and a return on equity of 7.61%. The company earned $341.30 million during the quarter, compared to the consensus estimate of $331.34 million. During the same quarter last year, the company earned $0.23 earnings per share. Finisar Corp.’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts predict that Finisar Corp. will post $1.73 earnings per share for the current fiscal year.
About Finisar Corp.
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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