Finisar Corporation (NASDAQ:FNSR) was downgraded by equities research analysts at TheStreet from a “b” rating to a “c+” rating in a research note issued on Thursday, November 2nd.
FNSR has been the topic of several other research reports. Zacks Investment Research downgraded shares of Finisar Corporation from a “hold” rating to a “sell” rating in a research report on Monday, September 4th. Northland Securities set a $40.00 price target on shares of Finisar Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Piper Jaffray Companies reiterated a “buy” rating and set a $30.00 price target (down previously from $32.00) on shares of Finisar Corporation in a research report on Tuesday, September 5th. BidaskClub downgraded shares of Finisar Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC assumed coverage on shares of Finisar Corporation in a research report on Wednesday, November 1st. They set a “buy” rating and a $28.50 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the stock. Finisar Corporation has a consensus rating of “Buy” and an average target price of $32.60.
Shares of Finisar Corporation (NASDAQ FNSR) opened at $18.39 on Thursday. The company has a quick ratio of 6.24, a current ratio of 7.66 and a debt-to-equity ratio of 0.44. Finisar Corporation has a fifty-two week low of $18.10 and a fifty-two week high of $36.85. The firm has a market cap of $2,090.00, a PE ratio of 11.39, a PEG ratio of 1.31 and a beta of 1.19.
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, hitting the Thomson Reuters’ consensus estimate of $0.40. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The business had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. research analysts expect that Finisar Corporation will post 1.05 earnings per share for the current year.
In other news, Chairman Jerry S. Rawls sold 20,000 shares of Finisar Corporation stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $22.89, for a total transaction of $457,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger C. Ferguson sold 2,726 shares of Finisar Corporation stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $21.46, for a total value of $58,499.96. Following the sale, the director now directly owns 44,034 shares of the company’s stock, valued at approximately $944,969.64. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Finisar Corporation by 103.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after purchasing an additional 2,912 shares during the period. Fortaleza Asset Management Inc. bought a new position in shares of Finisar Corporation in the second quarter worth $138,000. PNC Financial Services Group Inc. increased 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 worth $153,000 after purchasing an additional 1,805 shares during the period. Cheyne Capital Management UK LLP bought a new position in shares of Finisar Corporation in the third quarter worth $155,000. Finally, Cubist Systematic Strategies LLC increased its position in shares of Finisar Corporation by 598.3% in the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after purchasing an additional 6,001 shares during the period. 88.14% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Finisar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.