ValuEngine Downgrades Finisar (FNSR) to Sell

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Finisar (NASDAQ:FNSR) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Finisar from a “buy” rating to a “hold” rating in a research report on Tuesday, September 18th. Morgan Stanley downgraded shares of Finisar from an “overweight” rating to an “equal weight” rating and set a $20.00 price target for the company. in a research report on Thursday, September 13th. Barclays reissued a “hold” rating and set a $24.00 price target on shares of Finisar in a research report on Sunday, September 9th. Loop Capital reduced their price target on shares of Finisar to $20.00 and set a “hold” rating for the company in a research report on Friday, September 7th. Finally, B. Riley dropped their target price on shares of Finisar from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday, September 4th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Finisar presently has a consensus rating of “Hold” and an average price target of $24.28.

Shares of FNSR opened at $16.74 on Thursday. The company has a market cap of $2.23 billion, a P/E ratio of 52.31, a PEG ratio of 2.84 and a beta of 1.36. The company has a quick ratio of 2.98, a current ratio of 3.65 and a debt-to-equity ratio of 0.31. Finisar has a twelve month low of $14.25 and a twelve month high of $25.41.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, September 6th. The technology company reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.06. The company had revenue of $317.30 million during the quarter, compared to the consensus estimate of $315.77 million. Finisar had a negative net margin of 6.71% and a positive return on equity of 1.24%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. On average, sell-side analysts anticipate that Finisar will post 0.47 EPS for the current fiscal year.

In related news, Director Jerry S. Rawls sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $19.24, for a total value of $769,600.00. Following the sale, the director now owns 483,258 shares in the company, valued at $9,297,883.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry S. Rawls sold 30,208 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $16.99, for a total transaction of $513,233.92. Following the completion of the sale, the director now owns 553,466 shares in the company, valued at approximately $9,403,387.34. The disclosure for this sale can be found here. Insiders sold 113,208 shares of company stock worth $2,090,154 in the last 90 days. 1.11% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of FNSR. Janus Henderson Group PLC purchased a new position in shares of Finisar during the 2nd quarter worth $185,000. Xact Kapitalforvaltning AB boosted its stake in shares of Finisar by 27.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 16,511 shares of the technology company’s stock worth $261,000 after acquiring an additional 3,600 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Finisar during the 2nd quarter worth $348,000. Profund Advisors LLC purchased a new position in shares of Finisar during the 1st quarter worth $349,000. Finally, Balter Liquid Alternatives LLC boosted its stake in shares of Finisar by 68.8% during the 2nd quarter. Balter Liquid Alternatives LLC now owns 22,243 shares of the technology company’s stock worth $412,000 after acquiring an additional 9,062 shares during the last quarter.

Finisar Company Profile

Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies 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 wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.

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Analyst Recommendations for Finisar (NASDAQ:FNSR)

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