Finisar Corp. (FNSR) Reaches New 1-Year High at $21.44
Finisar Corp. (NASDAQ:FNSR)’s share price reached a new 52-week high on Tuesday . The company traded as high as $21.44 and last traded at $21.26, with a volume of 684,363 shares. The stock had previously closed at $21.03.
A number of research firms have recently weighed in on FNSR. B. Riley reissued a “buy” rating and issued a $24.50 price target on shares of Finisar Corp. in a report on Sunday, June 19th. Piper Jaffray Cos. reissued a “buy” rating and issued a $20.00 price target on shares of Finisar Corp. in a report on Wednesday, June 15th. Zacks Investment Research cut Finisar Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 22nd. Needham & Company LLC reissued a “buy” rating and issued a $24.00 price target (up from $22.00) on shares of Finisar Corp. in a report on Tuesday, June 14th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $20.00 price target (up from $17.00) on shares of Finisar Corp. in a report on Friday, June 17th. Eight research 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 $19.38.
The stock’s 50 day moving average price is $19.40 and its 200-day moving average price is $17.38. The stock has a market capitalization of $2.28 billion and a PE ratio of 66.03.
Finisar Corp. (NASDAQ:FNSR) last announced 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 company had revenue of $318.80 million for the quarter. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS. On average, analysts forecast that Finisar Corp. will post $1.28 EPS for the current year.
In other news, SVP Mark Colyar sold 39,225 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $20.75, for a total value of $813,918.75. Following the completion of the sale, the senior vice president now owns 95,633 shares in the company, valued at $1,984,384.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph A. Young sold 2,500 shares of the stock in a transaction on Monday, June 20th. The shares were sold at an average price of $18.98, for a total value of $47,450.00. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Finisar Corp. stock. Employees Retirement System of Texas raised its position in shares of Finisar Corp. (NASDAQ:FNSR) by 62.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,000 shares of the company’s stock after buying an additional 31,000 shares during the period. Employees Retirement System of Texas owned approximately 0.08% of Finisar Corp. worth $1,178,000 at the end of the most recent reporting 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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