Insider Selling: Finisar Corp. (FNSR) EVP Sells 3,240 Shares of Stock
Finisar Corp. (NASDAQ:FNSR) EVP Julie Sheridan Eng sold 3,240 shares of the company’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of $30.04, for a total value of $97,329.60. Following the transaction, the executive vice president now directly owns 75,540 shares in the company, valued at $2,269,221.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Finisar Corp. (NASDAQ:FNSR) opened at 29.48 on Friday. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 57.69 and a beta of 1.39. The firm’s 50-day moving average price is $24.28 and its 200 day moving average price is $19.25. Finisar Corp. has a one year low of $10.66 and a one year high of $30.19.
Finisar Corp. (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, September 8th. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.08. The business had revenue of $341.30 million for the quarter, compared to analysts’ expectations 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 was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 EPS. On average, equities research analysts expect that Finisar Corp. will post $1.73 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Bogle Investment Management L P DE purchased a new stake in Finisar Corp. during the first quarter valued at $873,000. Geode Capital Management LLC raised its position in Finisar Corp. by 4.1% in the first quarter. Geode Capital Management LLC now owns 717,091 shares of the company’s stock valued at $13,079,000 after buying an additional 28,397 shares during the last quarter. State Street Corp raised its position in Finisar Corp. by 4.2% in the first quarter. State Street Corp now owns 1,796,616 shares of the company’s stock valued at $32,770,000 after buying an additional 71,987 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Finisar Corp. by 70.6% in the first quarter. Canada Pension Plan Investment Board now owns 520,970 shares of the company’s stock valued at $9,502,000 after buying an additional 215,600 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in Finisar Corp. during the first quarter valued at about $1,009,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on FNSR shares. B. Riley reaffirmed a “buy” rating and set a $20.00 price target on shares of Finisar Corp. in a research note on Tuesday, June 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price target (up from $22.00) on shares of Finisar Corp. in a research note on Tuesday, June 14th. Piper Jaffray Cos. reissued a “buy” rating and issued a $20.00 price objective on shares of Finisar Corp. in a research note on Wednesday, June 15th. TheStreet raised Finisar Corp. from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Finally, Zacks Investment Research raised Finisar Corp. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, July 11th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Finisar Corp. presently has an average rating of “Buy” and an average target price of $28.09.
Finisar Corp. Company Profile
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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