Finisar Corporation (NASDAQ:FNSR) was downgraded by investment analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a report released on Monday.

Other research analysts also recently issued reports about the company. Northland Securities reissued a “buy” rating and issued a $40.00 price target on shares of Finisar Corporation in a report on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and issued a $33.00 price target on shares of Finisar Corporation in a report on Saturday, July 22nd. DA Davidson reissued a “buy” rating and issued a $40.00 price target on shares of Finisar Corporation in a report on Thursday, September 7th. B. Riley reissued a “buy” rating and issued a $38.00 price target on shares of Finisar Corporation in a report on Wednesday, September 6th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $30.00 price target (down from $32.00) on shares of Finisar Corporation in a report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $32.60.

Finisar Corporation (NASDAQ FNSR) opened at $18.56 on Monday. Finisar Corporation has a twelve month low of $18.43 and a twelve month high of $36.85. The stock has a market capitalization of $2,192.34, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.31 and a beta of 1.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.66 and a quick ratio of 6.24.

Finisar Corporation (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $341.22 million. During the same period in the previous year, the company posted $0.38 earnings per share. Finisar Corporation’s revenue for the quarter was up .1% on a year-over-year basis. equities research analysts predict that Finisar Corporation will post 1.07 EPS for the current fiscal year.

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In related news, Chairman Jerry S. Rawls sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $22.89, for a total transaction of $457,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Todd Swanson sold 6,202 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 217,005 shares of the company’s stock, valued at $5,281,901.70. The disclosure for this sale can be found here. Insiders have sold 28,928 shares of company stock valued at $667,257 over the last quarter. 1.02% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its position in shares of Finisar Corporation by 3.6% during the first quarter. State Street Corp now owns 2,077,716 shares of the technology company’s stock worth $56,802,000 after purchasing an additional 71,736 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Finisar Corporation by 12.9% during the second quarter. Voya Investment Management LLC now owns 51,499 shares of the technology company’s stock worth $1,338,000 after purchasing an additional 5,883 shares in the last quarter. Taylor Asset Management Inc. increased its position in shares of Finisar Corporation by 13.2% during the second quarter. Taylor Asset Management Inc. now owns 1,044,300 shares of the technology company’s stock worth $27,131,000 after purchasing an additional 121,800 shares in the last quarter. Symphony Asset Management LLC increased its position in shares of Finisar Corporation by 86.6% during the second quarter. Symphony Asset Management LLC now owns 118,500 shares of the technology company’s stock worth $3,079,000 after purchasing an additional 55,000 shares in the last quarter. Finally, Endurance Wealth Management Inc. increased its position in shares of Finisar Corporation by 506.1% during the third quarter. Endurance Wealth Management Inc. now owns 279,184 shares of the technology company’s stock worth $6,190,000 after purchasing an additional 233,125 shares in the last quarter. Hedge funds and other institutional investors own 88.43% 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.

Analyst Recommendations for Finisar Corporation (NASDAQ:FNSR)

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