Needham & Company LLC upgraded shares of Finisar Corp. (NASDAQ:FNSR) from a buy rating to a strong-buy rating in a report released on Monday. Needham & Company LLC currently has $42.00 price target on the stock, up from their previous price target of $38.00.

A number of other equities analysts have also recently weighed in on the stock. Goldman Sachs Group Inc. upgraded shares of Finisar Corp. from a neutral rating to a buy rating and upped their price objective for the stock from $24.00 to $39.00 in a research report on Tuesday, October 11th. Zacks Investment Research lowered shares of Finisar Corp. from a strong-buy rating to a hold rating in a report on Wednesday, August 17th. Piper Jaffray Cos. reaffirmed an overweight rating and set a $38.00 target price (up previously from $31.00) on shares of Finisar Corp. in a report on Friday, October 7th. William Blair raised shares of Finisar Corp. from a market perform rating to an outperform rating in a report on Friday, September 9th. Finally, Stifel Nicolaus upped their target price on shares of Finisar Corp. from $28.00 to $33.00 and gave the stock a buy rating in a report on Monday, September 12th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Finisar Corp. currently has an average rating of Buy and a consensus target price of $31.27.

Shares of Finisar Corp. (NASDAQ:FNSR) opened at 33.97 on Monday. Finisar Corp. has a one year low of $11.26 and a one year high of $34.99. The company’s 50-day moving average is $30.02 and its 200-day moving average is $23.05. The company has a market cap of $3.74 billion, a price-to-earnings ratio of 66.48 and a beta of 1.37.

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, topping the Zacks’ consensus estimate of $0.30 by $0.08. The company earned $341.30 million during the quarter, compared to analysts’ expectations of $331.34 million. Finisar Corp. had a net margin of 4.32% and a return on equity of 7.61%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. On average, equities analysts predict that Finisar Corp. will post $1.75 EPS for the current year.

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In other Finisar Corp. news, EVP Joseph A. Young sold 5,545 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $21.90, for a total value of $121,435.50. Following the transaction, the executive vice president now directly owns 220,832 shares in the company, valued at $4,836,220.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jerry S. Rawls sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $28.58, for a total transaction of $857,400.00. Following the completion of the transaction, 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 currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors raised its position 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 valued at $224,396,000 after buying an additional 1,086,000 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Finisar Corp. by 4.1% in the second quarter. Alliancebernstein L.P. now owns 7,984,902 shares of the company’s stock worth $139,816,000 after buying an additional 314,093 shares during the period. Vanguard Group Inc. raised its position in shares of Finisar Corp. by 2.5% in the second quarter. Vanguard Group Inc. now owns 7,678,531 shares of the company’s stock worth $134,451,000 after buying an additional 188,272 shares during the period. Dimensional Fund Advisors LP raised its position 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 during the period. Finally, Fisher Asset Management LLC raised its position in shares of Finisar Corp. by 1.5% in the third quarter. Fisher Asset Management LLC now owns 4,182,661 shares of the company’s stock worth $124,643,000 after buying an additional 60,102 shares during the period. Institutional investors own 91.86% 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.

5 Day Chart for NASDAQ:FNSR

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