Finisar Corp. (FNSR) Sees Strong Trading Volume
Finisar Corp. (NASDAQ:FNSR) shares saw unusually-strong trading volume on Thursday . Approximately 1,564,301 shares were traded during trading, an increase of 39% from the previous session’s volume of 1,122,247 shares.The stock last traded at $22.14 and had previously closed at $21.18.
Several equities research analysts recently commented on FNSR shares. Zacks Investment Research raised Finisar Corp. from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Wednesday, May 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $24.00 target price (up previously from $22.00) on shares of Finisar Corp. in a research note on Tuesday, June 14th. B. Riley reaffirmed a “buy” rating and set a $20.00 target price on shares of Finisar Corp. in a research note on Tuesday, June 14th. MKM Partners reaffirmed a “neutral” rating and set a $19.00 target price on shares of Finisar Corp. in a research note on Wednesday, June 15th. Finally, Piper Jaffray Cos. reaffirmed a “buy” rating and set a $20.00 target price on shares of Finisar Corp. in a research note on Wednesday, June 15th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Finisar Corp. currently has an average rating of “Hold” and an average price target of $19.38.
The firm’s 50-day moving average price is $19.60 and its 200-day moving average price is $17.47. The company has a market cap of $2.37 billion and a P/E ratio of 68.78.
Finisar Corp. (NASDAQ:FNSR) last released its quarterly earnings results on Thursday, June 16th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. The business had revenue of $318.80 million for the quarter. Finisar Corp.’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.25 earnings per share. Equities research analysts forecast that Finisar Corp. will post $1.28 EPS for the current fiscal year.
In other Finisar Corp. news, SVP Mark Colyar sold 39,225 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $20.75, for a total transaction of $813,918.75. Following the completion of the transaction, the senior vice president now owns 95,633 shares of the company’s stock, valued at approximately $1,984,384.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph A. Young sold 6,690 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $21.40, for a total value of $143,166.00. Following the transaction, the executive vice president now directly owns 226,377 shares of the company’s stock, valued at approximately $4,844,467.80. 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 Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the SEC.
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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