Finisar (NASDAQ:FNSR) Given New $23.00 Price Target at Stifel Nicolaus

Finisar (NASDAQ:FNSR) had its price target trimmed by Stifel Nicolaus from $27.00 to $23.00 in a report released on Wednesday, December 6th, MarketBeat.com reports. The firm currently has a buy rating on the technology company’s stock.

FNSR has been the topic of a number of other reports. Zacks Investment Research upgraded Finisar from a sell rating to a hold rating and set a $27.00 price target on the stock in a research report on Tuesday, August 15th. Northland Securities set a $40.00 price target on Finisar and gave the stock a buy rating in a research report on Tuesday, August 29th. ValuEngine lowered Finisar from a buy rating to a hold rating in a research report on Friday, September 1st. Piper Jaffray Companies restated a buy rating and set a $30.00 price target (down from $32.00) on shares of Finisar in a research report on Tuesday, September 5th. Finally, B. Riley restated a buy rating and set a $38.00 price target on shares of Finisar in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Finisar has a consensus rating of Buy and a consensus price target of $28.35.

Finisar (NASDAQ:FNSR) traded down $0.10 during mid-day trading on Wednesday, hitting $20.35. The stock had a trading volume of 2,409,141 shares, compared to its average volume of 7,429,055. Finisar has a 52 week low of $17.20 and a 52 week high of $36.41. The company has a market cap of $2,331.79, a price-to-earnings ratio of 11.63, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.31 and a current ratio of 7.81.

Finisar (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Finisar had a return on equity of 9.51% and a net margin of 14.33%. The company had revenue of $332.21 million for the quarter, compared to analyst estimates of $331.69 million. research analysts expect that Finisar will post 0.73 earnings per share for the current fiscal year.

In other Finisar news, SVP Mark Colyar sold 1,692 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $22.15, for a total transaction of $37,477.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Jerry S. Rawls sold 20,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $22.89, for a total value of $457,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,369 shares of company stock worth $1,189,715. Company insiders own 1.02% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Capital Research Global Investors lifted its stake in shares of Finisar by 2.7% in the 2nd quarter. Capital Research Global Investors now owns 13,651,050 shares of the technology company’s stock valued at $354,654,000 after purchasing an additional 359,709 shares during the period. Vanguard Group Inc. lifted its stake in shares of Finisar by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock valued at $231,435,000 after purchasing an additional 208,692 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Finisar by 10.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock valued at $107,146,000 after purchasing an additional 471,882 shares during the period. Northern Trust Corp lifted its stake in shares of Finisar by 3.8% in the 2nd quarter. Northern Trust Corp now owns 2,907,058 shares of the technology company’s stock valued at $75,525,000 after purchasing an additional 107,680 shares during the period. Finally, State Street Corp lifted its stake in shares of Finisar by 5.9% in the 2nd quarter. State Street Corp now owns 2,199,440 shares of the technology company’s stock valued at $57,141,000 after purchasing an additional 121,724 shares during the period. 91.21% of the stock is currently owned by institutional investors.

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About Finisar

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 (NASDAQ:FNSR)

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