Finisar (NASDAQ:FNSR) has received a consensus rating of “Hold” from the twenty brokerages that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $23.58.
A number of research firms have recently weighed in on FNSR. Zacks Investment Research upgraded shares of Finisar from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. Stifel Nicolaus lowered their price objective on shares of Finisar from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, March 9th. Goldman Sachs set a $15.00 price objective on shares of Finisar and gave the company a “sell” rating in a research report on Wednesday, April 11th. Raymond James reissued an “outperform” rating on shares of Finisar in a research report on Monday, March 5th. Finally, DA Davidson reissued a “buy” rating and issued a $22.00 price objective (down from $24.00) on shares of Finisar in a research report on Friday, March 9th.
Finisar traded up $0.33, reaching $16.84, on Monday, according to Marketbeat Ratings. The company had a trading volume of 43,945 shares, compared to its average volume of 4,010,420. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.24 and a current ratio of 4.06. The company has a market cap of $1.89 billion, a P/E ratio of 9.78, a P/E/G ratio of 1.90 and a beta of 1.18. Finisar has a 12 month low of $16.79 and a 12 month high of $17.18.
In related news, Director Roger C. Ferguson sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 22nd. The shares were sold at an average price of $17.30, for a total transaction of $51,900.00. Following the completion of the transaction, the director now owns 28,784 shares in the company, valued at approximately $497,963.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jerry S. Rawls sold 38,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $14.96, for a total transaction of $568,480.00. Following the transaction, the director now owns 601,258 shares of the company’s stock, valued at approximately $8,994,819.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,208 shares of company stock valued at $1,091,323. Company insiders own 1.02% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Glen Harbor Capital Management LLC bought a new position in shares of Finisar during the 1st quarter worth approximately $122,000. Victory Capital Management Inc. raised its stake in shares of Finisar by 66.2% during the 1st quarter. Victory Capital Management Inc. now owns 7,763 shares of the technology company’s stock worth $123,000 after acquiring an additional 3,091 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Finisar by 598.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after acquiring an additional 6,001 shares in the last quarter. First Mercantile Trust Co. bought a new position in shares of Finisar during the 4th quarter worth approximately $158,000. Finally, Tyers Asset Management LLC bought a new position in shares of Finisar during the 1st quarter worth approximately $167,000. Hedge funds and other institutional investors own 96.24% of the company’s stock.
Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical, or optoelectronic interface for interconnecting the electronic equipment used in networks comprising switches, routers, and servers used in wireline networks, as well as antennas and base stations used in wireless networks.
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