Finisar (NASDAQ:FNSR)‘s stock had its “buy” rating reiterated by analysts at DA Davidson in a research report issued on Wednesday, November 29th. They presently have a $30.00 price target on the technology company’s stock. DA Davidson’s target price suggests a potential upside of 36.05% from the stock’s current price. DA Davidson also issued estimates for Finisar’s Q3 2018 earnings at $0.26 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $1.05 EPS, Q1 2019 earnings at $0.32 EPS, Q2 2019 earnings at $0.36 EPS, Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.38 EPS and FY2019 earnings at $1.43 EPS.
Other analysts also recently issued research reports about the stock. B. Riley reaffirmed a “buy” rating and issued a $38.00 price target on shares of Finisar in a report on Wednesday, September 6th. Jefferies Group reissued a “buy” rating and issued a $28.50 price objective (down previously from $34.00) on shares of Finisar in a research report on Friday, September 8th. William Blair reissued an “ourperform” rating on shares of Finisar in a research report on Thursday, September 7th. Needham & Company LLC reissued a “strong-buy” rating and issued a $34.00 price objective (down previously from $44.00) on shares of Finisar in a research report on Friday, September 8th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Finisar in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Finisar has an average rating of “Buy” and an average target price of $27.82.
Shares of Finisar (FNSR) opened at $22.05 on Wednesday. The company has a market cap of $2,514.23, a PE ratio of 17.23, a P/E/G ratio of 2.13 and a beta of 1.14. Finisar has a fifty-two week low of $17.20 and a fifty-two week high of $36.41. The company has a current ratio of 7.81, a quick ratio of 6.31 and a debt-to-equity ratio of 0.44.
In other news, Chairman Jerry S. Rawls sold 20,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total value of $457,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John H. Clark sold 6,186 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total transaction of $154,031.40. Following the completion of the transaction, the executive vice president now owns 146,053 shares of the company’s stock, valued at $3,636,719.70. The disclosure for this sale can be found here. Insiders sold 28,912 shares of company stock valued at $670,331 in the last three months. Company insiders own 1.02% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC boosted its stake in Finisar by 12.9% during the 2nd quarter. Voya Investment Management LLC now owns 51,499 shares of the technology company’s stock valued at $1,338,000 after acquiring an additional 5,883 shares during the last quarter. Taylor Asset Management Inc. raised its holdings in shares of Finisar 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 during the period. Symphony Asset Management LLC raised its holdings in shares of Finisar 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 during the period. Endurance Wealth Management Inc. raised its holdings in shares of Finisar 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 during the period. Finally, Fondren Management LP acquired a new stake in shares of Finisar during the second quarter worth $325,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.
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Finisar 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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