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

FNSR has been the subject of several research analyst reports. Zacks Investment Research downgraded Finisar Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Needham & Company LLC reiterated a “buy” rating and set a $24.00 target price (up from $22.00) on shares of Finisar Corp. in a research report on Tuesday, June 14th. B. Riley reiterated a “buy” rating and set a $20.00 target price on shares of Finisar Corp. in a research report on Tuesday, June 14th. MKM Partners reiterated a “neutral” rating and set a $19.00 target price on shares of Finisar Corp. in a research report on Wednesday, June 15th. Finally, Piper Jaffray Cos. reiterated a “buy” rating and set a $20.00 target price on shares of Finisar Corp. in a research report on Wednesday, June 15th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $19.04.

The stock has a market capitalization of $2.02 billion and a price-to-earnings ratio of 58.47. The company has a 50-day moving average price of $18.03 and a 200 day moving average price of $16.17.

Finisar Corp. (NASDAQ:FNSR) last issued its earnings results on Thursday, June 16th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.04. The company earned $318.80 million during the quarter. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. Analysts predict that Finisar Corp. will post $1.28 EPS for the current fiscal year.

In other news, EVP Julie Sheridan Eng sold 5,291 shares of the stock in a transaction on Wednesday, June 22nd. The stock was sold at an average price of $18.51, for a total transaction of $97,936.41. Following the completion of the transaction, the executive vice president now directly owns 48,723 shares in the company, valued at approximately $901,862.73. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christopher Brown sold 14,584 shares of the stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $19.10, for a total value of $278,554.40. Following the transaction, the executive vice president now owns 151,578 shares of the company’s stock, valued at $2,895,139.80. The disclosure for this sale can be found here.

Several institutional investors have added to or reduced their stakes in the company. Employees Retirement System of Texas boosted its position in Finisar Corp. by 62.0% in the fourth quarter. Employees Retirement System of Texas now owns 81,000 shares of the company’s stock worth $1,178,000 after buying an additional 31,000 shares in the last quarter. Trexquant Investment LP boosted 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 in the last quarter. New York State Common Retirement Fund boosted 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 in the last quarter. Rhumbline Advisers boosted 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 in the last quarter. Finally, California State Teachers Retirement System boosted 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 in 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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