Shares of Finisar Corp. (NASDAQ:FNSR) rose 2.8% on Friday . The stock traded as high as $19.76 and last traded at $19.74, with a volume of 861,790 shares changing hands. The stock had previously closed at $19.20.

FNSR has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Finisar Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. TheStreet upgraded shares of Finisar Corp. from a “hold” rating to a “buy” rating in a research report on Monday, June 20th. MKM Partners restated a “neutral” rating and set a $19.00 price target on shares of Finisar Corp. in a research report on Wednesday, June 15th. Jefferies Group restated a “hold” rating and set a $19.00 price target (up from $18.00) on shares of Finisar Corp. in a research report on Friday, June 17th. Finally, Needham & Company LLC boosted their price target on shares of Finisar Corp. from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, June 20th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $19.04.

The firm has a 50-day moving average of $18.44 and a 200-day moving average of $16.69. The stock has a market cap of $2.12 billion and a price-to-earnings ratio of 61.56.

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

In related news, EVP Joseph A. Young sold 6,473 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $19.90, for a total transaction of $128,812.70. Following the transaction, the executive vice president now owns 246,543 shares in the company, valued at approximately $4,906,205.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Joseph A. Young sold 2,500 shares of the company’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $18.50, for a total transaction of $46,250.00. Following 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.

A number of hedge funds and institutional investors recently modified their holdings of FNSR. Trexquant Investment LP increased its position 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 valued at $1,249,000 after buying an additional 40,403 shares during the period. Employees Retirement System of Texas increased its position 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 valued at $1,178,000 after buying an additional 31,000 shares during the period. Finally, New York State Common Retirement Fund increased its position 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 valued at $1,412,000 after buying an additional 2,200 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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