Shares of Finisar Corp. (NASDAQ:FNSR) hit a new 52-week high on Monday . The company traded as high as $20.16 and last traded at $20.09, with a volume of 917,117 shares trading hands. The stock had previously closed at $19.70.

A number of analysts have weighed in on the stock. Zacks Investment Research lowered shares of Finisar Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. B. Riley restated a “buy” rating and issued a $24.50 target price on shares of Finisar Corp. in a research report on Sunday, June 19th. Jefferies Group restated a “hold” rating and issued a $19.00 target price (up previously from $18.00) on shares of Finisar Corp. in a research report on Friday, June 17th. TheStreet upgraded shares of Finisar Corp. from a “hold” rating to a “buy” rating in a research report on Monday, June 20th. Finally, MKM Partners restated a “neutral” rating and issued a $19.00 target price on shares of Finisar Corp. in a research report on Wednesday, June 15th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $19.38.

The firm has a 50-day moving average price of $18.62 and a 200 day moving average price of $16.87. The stock has a market capitalization of $2.21 billion and a price-to-earnings ratio of 64.25.

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 Zacks’ consensus estimate of $0.25 by $0.04. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm had revenue of $318.80 million for the quarter. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts expect that Finisar Corp. will post $1.28 EPS for the current fiscal year.

In other news, 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 transaction, the executive vice president now owns 246,543 shares of the company’s stock, valued at approximately $4,906,205.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christopher Brown sold 70,212 shares of the stock in a transaction on Friday, June 17th. The stock was sold at an average price of $19.10, for a total transaction of $1,341,049.20. The disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of FNSR. Employees Retirement System of Texas raised 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 worth $1,178,000 after buying an additional 31,000 shares during the last quarter. Trexquant Investment LP raised 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 worth $1,249,000 after buying an additional 40,403 shares during the last quarter. Finally, New York State Common Retirement Fund raised 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 worth $1,412,000 after buying an additional 2,200 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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