Finisar Corporation (FNSR) Given a $40.00 Price Target by Northland Securities Analysts
Finisar Corporation (NASDAQ:FNSR) has been assigned a $40.00 price target by equities research analysts at Northland Securities in a research report issued on Tuesday. The firm currently has a “buy” rating on the technology company’s stock. Northland Securities’ price objective would suggest a potential upside of 59.49% from the company’s previous close.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Finisar Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. BidaskClub cut Finisar Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price target on shares of Finisar Corporation in a report on Saturday, July 22nd. DA Davidson assumed coverage on Finisar Corporation in a report on Thursday, June 29th. They set a “buy” rating and a $40.00 target price on the stock. Finally, B. Riley reissued a “buy” rating and set a $38.00 target price on shares of Finisar Corporation in a report on Sunday, June 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. Finisar Corporation presently has a consensus rating of “Buy” and an average target price of $36.27.
Finisar Corporation (FNSR) opened at 25.08 on Tuesday. The company’s 50-day moving average price is $25.83 and its 200 day moving average price is $26.91. The stock has a market capitalization of $2.80 billion, a PE ratio of 11.45 and a beta of 1.32. Finisar Corporation has a 12 month low of $20.29 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 for the quarter, meeting the Zacks’ consensus estimate of $0.50. The company had revenue of $357.50 million for the quarter, compared to analysts’ expectations of $359.65 million. Finisar Corporation had a return on equity of 13.91% and a net margin of 17.20%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 earnings per share. On average, analysts forecast that Finisar Corporation will post $2.09 earnings per share for the current fiscal year.
In other Finisar Corporation news, EVP Todd Swanson sold 6,202 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.34, for a total value of $150,956.68. Following the transaction, the executive vice president now owns 217,005 shares of the company’s stock, valued at $5,281,901.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Jerry S. Rawls sold 25,000 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $25.93, for a total value of $648,250.00. Following the completion of the transaction, the chairman now directly owns 815,188 shares in the company, valued at approximately $21,137,824.84. The disclosure for this sale can be found here. Insiders sold 107,991 shares of company stock worth $2,905,146 in the last ninety days. 1.02% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Capital Research Global Investors boosted its position in Finisar Corporation by 2.7% in the second quarter. Capital Research Global Investors now owns 13,651,050 shares of the technology company’s stock valued at $354,654,000 after buying an additional 359,709 shares during the last quarter. Vanguard Group Inc. boosted its position in Finisar Corporation by 2.4% in the second quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock valued at $231,435,000 after buying an additional 208,692 shares during the last quarter. Renaissance Technologies LLC boosted its position in Finisar Corporation by 3.0% in the first quarter. Renaissance Technologies LLC now owns 4,287,000 shares of the technology company’s stock valued at $117,207,000 after buying an additional 126,400 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Finisar Corporation by 36.3% in the first quarter. Ameriprise Financial Inc. now owns 3,180,178 shares of the technology company’s stock valued at $86,945,000 after buying an additional 846,559 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Finisar Corporation by 3.8% in the second quarter. Northern Trust Corp now owns 2,907,058 shares of the technology company’s stock valued at $75,525,000 after buying an additional 107,680 shares during the last quarter. Hedge funds and other institutional investors own 86.33% of the company’s stock.
About Finisar Corporation
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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