Roger C. Ferguson Sells 2,853 Shares of Finisar Corp. (FNSR) Stock
Finisar Corp. (NASDAQ:FNSR) Director Roger C. Ferguson sold 2,853 shares of the business’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $29.05, for a total value of $82,879.65. Following the completion of the transaction, the director now directly owns 42,140 shares of the company’s stock, valued at $1,224,167. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Finisar Corp. (NASDAQ:FNSR) opened at 29.82 on Thursday. The stock has a 50 day moving average price of $23.99 and a 200-day moving average price of $19.18. Finisar Corp. has a one year low of $10.66 and a one year high of $30.19. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 58.36 and a beta of 1.39.
Finisar Corp. (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, September 8th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.08. The business earned $341.30 million during the quarter, compared to the consensus estimate of $331.34 million. Finisar Corp. had a return on equity of 7.61% and a net margin of 4.32%. The business’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. On average, analysts predict that Finisar Corp. will post $1.73 earnings per share for the current fiscal year.
Several research firms have recently commented on FNSR. Needham & Company LLC reissued a “buy” rating and issued a $24.00 price target (up from $22.00) on shares of Finisar Corp. in a research report on Tuesday, June 14th. Zacks Investment Research lowered Finisar Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Goldman Sachs Group Inc. upped their target price on Finisar Corp. from $21.00 to $24.00 and gave the company a “neutral” rating in a research report on Friday, September 9th. Stifel Nicolaus raised Finisar Corp. from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, September 6th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and set a $20.00 target price on shares of Finisar Corp. in a research report on Wednesday, June 15th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $27.57.
Several hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in Finisar Corp. during the first quarter worth approximately $554,000. Virginia Retirement System purchased a new stake in Finisar Corp. during the first quarter worth approximately $505,000. AO Asset Management LLC increased its stake in Finisar Corp. by 33.7% in the first quarter. AO Asset Management LLC now owns 999,000 shares of the company’s stock worth $18,222,000 after buying an additional 252,000 shares during the last quarter. TIAA CREF Investment Management LLC increased its stake in Finisar Corp. by 95.5% in the first quarter. TIAA CREF Investment Management LLC now owns 863,404 shares of the company’s stock worth $15,748,000 after buying an additional 421,759 shares during the last quarter. Finally, Teachers Advisors Inc. increased its stake in Finisar Corp. by 303.4% in the first quarter. Teachers Advisors Inc. now owns 780,656 shares of the company’s stock worth $14,239,000 after buying an additional 587,150 shares during the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.
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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