Zacks Investment Research lowered shares of Finisar Corporation (NASDAQ:FNSR) from a hold rating to a sell rating in a research report released on Wednesday, June 21st.

According to Zacks, “FINISAR CORP. is a provider of fiber optic subsystems and network test and monitoring systems which enable high-speed data communications over local area networks, or LANs, storage area networks, or SANs, and metropolitan access networks, or MANs. They are focused on the application of digital fiber optics to provide aline of high-performance, reliable, value-added optical subsystems for data networking and storage equipment manufacturers. “

Several other research analysts have also recently weighed in on the stock. B. Riley reissued a buy rating and set a $38.00 price target on shares of Finisar Corporation in a research report on Sunday, June 18th. Jefferies Group LLC reissued a buy rating and set a $34.00 price target on shares of Finisar Corporation in a research report on Monday, June 12th. William Blair restated an outperform rating on shares of Finisar Corporation in a report on Friday, June 9th. ValuEngine lowered shares of Finisar Corporation from a strong-buy rating to a buy rating in a report on Friday, June 2nd. Finally, Raymond James Financial, Inc. restated a strong-buy rating on shares of Finisar Corporation in a report on Friday, April 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $37.27.

Shares of Finisar Corporation (NASDAQ FNSR) traded up 0.29% during trading on Wednesday, hitting $27.40. 1,764,517 shares of the stock traded hands. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 12.51 and a beta of 1.31. The company has a 50 day moving average price of $25.69 and a 200 day moving average price of $28.12. Finisar Corporation has a 12 month low of $18.00 and a 12 month high of $36.85.

Finisar Corporation (NASDAQ:FNSR) last released its quarterly earnings results on Thursday, June 15th. The technology company reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. Finisar Corporation had a net margin of 17.20% and a return on equity of 13.91%. The firm had revenue of $357.50 million for the quarter, compared to analysts’ expectations of $359.65 million. During the same quarter last year, the company earned $0.29 EPS. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. Analysts anticipate that Finisar Corporation will post $2.10 earnings per share for the current fiscal year.

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In other news, SVP Mark Colyar sold 2,166 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $27.19, for a total value of $58,893.54. Following the completion of the sale, the senior vice president now directly owns 44,822 shares of the company’s stock, valued at $1,218,710.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jerry S. Rawls sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $25.93, for a total value of $648,250.00. Following the sale, the chairman now owns 815,188 shares of the company’s stock, valued at approximately $21,137,824.84. The disclosure for this sale can be found here. Insiders sold 73,773 shares of company stock valued at $1,962,200 over the last three months. Corporate insiders own 1.34% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Acrospire Investment Management LLC boosted its stake in Finisar Corporation by 4.4% in the first quarter. Acrospire Investment Management LLC now owns 3,991 shares of the technology company’s stock valued at $109,000 after buying an additional 168 shares during the period. Westside Investment Management Inc. bought a new stake in Finisar Corporation during the first quarter valued at approximately $150,000. Advisory Services Network LLC bought a new stake in Finisar Corporation during the first quarter valued at approximately $193,000. Dynamic Technology Lab Private Ltd bought a new stake in Finisar Corporation during the fourth quarter valued at approximately $240,000. Finally, Boothbay Fund Management LLC bought a new stake in Finisar Corporation during the fourth quarter valued at approximately $243,000.

Finisar Corporation 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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