Finisar Corporation (FNSR) Given Ourperform Rating at William Blair
Finisar Corporation (NASDAQ:FNSR)‘s stock had its “ourperform” rating reissued by William Blair in a report released on Thursday.
A number of other research firms have also weighed in on FNSR. B. Riley restated a “buy” rating and issued a $38.00 target price on shares of Finisar Corporation in a report on Sunday, June 18th. Northland Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Finisar Corporation in a research report on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $33.00 price target on shares of Finisar Corporation in a research report on Saturday, July 22nd. Zacks Investment Research downgraded Finisar Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Finally, DA Davidson initiated coverage on Finisar Corporation in a research report on Thursday, June 29th. They set a “buy” rating and a $40.00 price target for the company. Two analysts have 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 stock. Finisar Corporation presently has a consensus rating of “Buy” and a consensus target price of $32.87.
Finisar Corporation (NASDAQ FNSR) traded up 1.06% on Thursday, hitting $22.01. The company’s stock had a trading volume of 1,453,653 shares. The stock has a market cap of $2.51 billion, a PE ratio of 10.35 and a beta of 1.33. The firm has a 50 day moving average of $24.46 and a 200-day moving average of $25.92. Finisar Corporation has a 12 month low of $20.16 and a 12 month high of $36.85.
Finisar Corporation (NASDAQ:FNSR) last posted its earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The company had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. During the same quarter last year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts expect that Finisar Corporation will post $1.53 earnings per share for the current fiscal year.
In other Finisar Corporation news, EVP Todd Swanson sold 6,202 shares of the firm’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 completion of the sale, the executive vice president now directly owns 217,005 shares of the company’s stock, valued at $5,281,901.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jerry S. Rawls sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $27.58, for a total value of $689,500.00. Following the completion of the sale, the chairman now directly owns 815,188 shares of the company’s stock, valued at $22,482,885.04. The disclosure for this sale can be found here. Insiders sold 101,961 shares of company stock valued at $2,742,336 over the last three months. Company insiders own 1.02% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC grew its position in shares of 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 purchasing an additional 168 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new position in shares of Finisar Corporation in the second quarter valued at $138,000. PNC Financial Services Group Inc. grew its position in shares of Finisar Corporation by 43.9% in the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,805 shares in the last quarter. Westside Investment Management Inc. purchased a new position in shares of Finisar Corporation in the first quarter valued at $150,000. Finally, Quantitative Systematic Strategies LLC purchased a new position in shares of Finisar Corporation in the second quarter valued at $202,000. 86.38% of the stock is owned by institutional investors and hedge funds.
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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