Finisar Corp. (NASDAQ:FNSR) shares reached a new 52-week high on Tuesday . The company traded as high as $19.53 and last traded at $19.25, with a volume of 446,405 shares changing hands. The stock had previously closed at $18.82.

FNSR has been the subject of a number of recent research reports. Zacks Investment Research lowered shares of Finisar Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 24th. Piper Jaffray Cos. restated a “buy” rating and issued a $20.00 price target on shares of Finisar Corp. in a research report on Wednesday, June 15th. Needham & Company LLC restated a “buy” rating and issued a $24.00 price target (up from $22.00) on shares of Finisar Corp. in a research report on Tuesday, June 14th. Barclays PLC restated an “equal weight” rating and issued a $20.00 price target (up from $17.00) on shares of Finisar Corp. in a research report on Friday, June 17th. Finally, MKM Partners restated a “neutral” rating and issued a $19.00 price target on shares of Finisar Corp. in a research report on Wednesday, June 15th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $19.04.

The firm has a 50 day moving average of $17.95 and a 200-day moving average of $16.11. The firm has a market capitalization of $2.06 billion and a price-to-earnings ratio of 59.69.

Finisar Corp. (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, June 16th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business earned $318.80 million during the quarter. During the same quarter in the prior year, the firm posted $0.25 EPS. The business’s revenue was down .4% on a year-over-year basis. Analysts predict that Finisar Corp. will post $1.28 EPS for the current year.

In other news, EVP Christopher Brown sold 70,212 shares of the stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $19.10, for a total value of $1,341,049.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph A. Young sold 2,500 shares of the stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $18.50, for a total value of $46,250.00. Following the completion of the transaction, the executive vice president now owns 194,404 shares in the company, valued at approximately $3,596,474. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have added to or reduced their stakes in FNSR. Nationwide Fund Advisors increased its position in Finisar Corp. by 148.3% in the fourth quarter. Nationwide Fund Advisors now owns 195,564 shares of the company’s stock worth $2,844,000 after buying an additional 116,794 shares during the last quarter. California State Teachers Retirement System increased its position in Finisar Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 192,566 shares of the company’s stock worth $2,800,000 after buying an additional 3,082 shares during the last quarter. Rhumbline Advisers increased its position in Finisar Corp. by 2.6% in the fourth quarter. Rhumbline Advisers now owns 145,722 shares of the company’s stock worth $2,119,000 after buying an additional 3,723 shares during the last quarter. New York State Common Retirement Fund increased its position in Finisar Corp. by 2.3% in the fourth quarter. New York State Common Retirement Fund now owns 97,100 shares of the company’s stock worth $1,412,000 after buying an additional 2,200 shares during the last quarter. Finally, Trexquant Investment LP increased its position in Finisar Corp. by 88.8% in the fourth quarter. Trexquant Investment LP now owns 85,903 shares of the company’s stock worth $1,249,000 after buying an additional 40,403 shares during the last quarter.

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, optical engines and active optical cables that provide the fundamental optical-electrical, or optoelectronic, interface for interconnecting the electronic equipment used in communication networks, including the switches, routers and servers used in wireline networks, as well as the antennas and base stations used in wireless networks.

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