Finisar Corp. (FNSR) EVP John H. Clark Sells 11,265 Shares of Stock
Finisar Corp. (NASDAQ:FNSR) EVP John H. Clark sold 11,265 shares of Finisar Corp. stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $29.72, for a total value of $334,795.80. Following the sale, the executive vice president now directly owns 163,573 shares of the company’s stock, valued at approximately $4,861,389.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Finisar Corp. (NASDAQ:FNSR) opened at 29.80 on Friday. The company’s 50-day moving average price is $24.58 and its 200 day moving average price is $19.34. Finisar Corp. has a 52 week low of $11.04 and a 52 week high of $30.19. The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of 58.32 and a beta of 1.39.
Finisar Corp. (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, September 8th. The company reported $0.38 earnings per share for the quarter, beating the 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 firm had revenue of $341.30 million for the quarter, compared to analyst estimates of $331.34 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, analysts predict that Finisar Corp. will post $1.73 EPS for the current year.
Several institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC raised its position in shares of Finisar Corp. by 7.7% in the first quarter. Renaissance Technologies LLC now owns 1,685,910 shares of the company’s stock valued at $30,751,000 after buying an additional 120,300 shares in the last quarter. Paradigm Capital Management Inc. NY raised its position in shares of Finisar Corp. by 204.0% in the second quarter. Paradigm Capital Management Inc. NY now owns 501,450 shares of the company’s stock valued at $8,781,000 after buying an additional 336,500 shares in the last quarter. Moore Capital Management LP bought a new position in shares of Finisar Corp. during the first quarter valued at $4,104,000. Acadian Asset Management LLC bought a new position in shares of Finisar Corp. during the first quarter valued at $554,000. Finally, BlackRock Inc. raised its position in shares of Finisar Corp. by 71.5% in the first quarter. BlackRock Inc. now owns 8,607 shares of the company’s stock valued at $156,000 after buying an additional 3,589 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.
A number of analysts recently issued reports on the company. B. Riley reissued a “buy” rating and set a $38.00 price objective on shares of Finisar Corp. in a research report on Friday. Zacks Investment Research raised Finisar Corp. from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, July 11th. Jefferies Group reaffirmed a “hold” rating and issued a $19.00 price target (up previously from $18.00) on shares of Finisar Corp. in a research report on Friday, June 17th. TheStreet raised Finisar Corp. from a “hold” rating to a “buy” rating in a research report on Monday, June 20th. Finally, Barclays PLC boosted their price target on Finisar Corp. from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, September 9th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.09.
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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