Finisar Corp. (FNSR) Stock Price Up 2.8%
Finisar Corp. (NASDAQ:FNSR)’s share price rose 2.8% during mid-day trading on Friday . The stock traded as high as $19.76 and last traded at $19.74, with a volume of 861,790 shares. The stock had previously closed at $19.20.
FNSR has been the subject of several research reports. Zacks Investment Research cut Finisar Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 price objective (up from $22.00) on shares of Finisar Corp. in a report on Tuesday, June 14th. B. Riley reaffirmed a “buy” rating and set a $20.00 price objective on shares of Finisar Corp. in a report on Tuesday, June 14th. MKM Partners reissued a “neutral” rating and set a $19.00 price target on shares of Finisar Corp. in a research report on Wednesday, June 15th. Finally, Piper Jaffray Cos. reissued a “buy” rating and set a $20.00 price target on shares of Finisar Corp. in a research report on Wednesday, June 15th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $19.04.
The stock has a market capitalization of $2.12 billion and a PE ratio of 61.56. The stock’s 50 day moving average price is $18.42 and its 200-day moving average price is $16.64.
Finisar Corp. (NASDAQ:FNSR) last released its earnings results on Thursday, June 16th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm earned $318.80 million during the quarter. During the same period last year, the business earned $0.25 EPS. Finisar Corp.’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts forecast that Finisar Corp. will post $1.28 EPS for the current year.
In other Finisar Corp. news, EVP Julie Sheridan Eng sold 5,291 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $18.51, for a total value of $97,936.41. Following the completion of the sale, the executive vice president now directly owns 48,723 shares in the company, valued at $901,862.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Joseph A. Young sold 6,473 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $19.90, for a total value of $128,812.70. Following the sale, the executive vice president now owns 246,543 shares of the company’s stock, valued at approximately $4,906,205.70. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. New York State Common Retirement Fund increased its stake in shares of 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 period. Employees Retirement System of Texas increased its stake in shares of 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 during the period. Finally, Trexquant Investment LP increased its stake in shares of 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 period.
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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