Finisar Corp. (FNSR) Stock Price Up 2.7%
Finisar Corp. (NASDAQ:FNSR) rose 2.7% during mid-day trading on Monday . The stock traded as high as $21.07 and last traded at $21.05, with a volume of 505,633 shares traded. The stock had previously closed at $20.49.
FNSR has been the subject of several recent analyst reports. Zacks Investment Research cut Finisar Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. TheStreet raised Finisar Corp. from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. MKM Partners reissued a “neutral” rating and set a $19.00 target price on shares of Finisar Corp. in a research note on Wednesday, June 15th. Jefferies Group reissued a “hold” rating and set a $19.00 target price (up previously from $18.00) on shares of Finisar Corp. in a research note on Friday, June 17th. Finally, Needham & Company LLC raised their target price on Finisar Corp. from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, June 20th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $19.38.
The company has a market capitalization of $2.27 billion and a PE ratio of 65.797. The stock’s 50-day moving average price is $19.49 and its 200-day moving average price is $17.44.
Finisar Corp. (NASDAQ:FNSR) last posted its earnings results on Thursday, June 16th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The company earned $318.80 million during the quarter. The business’s quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts anticipate that Finisar Corp. will post $1.28 EPS for the current year.
In other Finisar Corp. news, 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, 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 transaction, the senior vice president now directly owns 95,633 shares in the company, valued at approximately $1,984,384.75. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Finisar Corp. stock. Employees Retirement System of Texas raised its position in Finisar Corp. (NASDAQ:FNSR) by 62.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 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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