Finisar Corp. (FNSR) Sets New 12-Month High at $22.34
Shares of Finisar Corp. (NASDAQ:FNSR) reached a new 52-week high on Monday . The company traded as high as $22.34 and last traded at $22.32, with a volume of 1,157,000 shares traded. The stock had previously closed at $22.01.
FNSR has been the subject of a number of recent research reports. Zacks Investment Research cut Finisar Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 24th. Needham & Company LLC reissued a “buy” rating and set a $24.00 target price (up from $22.00) on shares of Finisar Corp. in a research note on Tuesday, June 14th. B. Riley reissued 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 reissued 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. reissued a “buy” rating and set a $20.00 target price on shares of Finisar Corp. in a research note on Wednesday, June 15th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $19.38.
The company has a market capitalization of $2.40 billion and a P/E ratio of 69.75. The firm has a 50-day moving average of $19.77 and a 200-day moving average of $17.53.
Finisar Corp. (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, June 16th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.04. During the same period in the previous year, the company posted $0.25 EPS. The business had revenue of $318.80 million for the quarter. The company’s revenue for the quarter was down .4% on a year-over-year basis. On average, analysts forecast that Finisar Corp. will post $1.28 EPS for the current fiscal year.
In other Finisar Corp. news, EVP Joseph A. Young sold 5,545 shares of the company’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $21.90, for a total value of $121,435.50. Following the transaction, the executive vice president now owns 220,832 shares of the company’s stock, valued at $4,836,220.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Mark Colyar sold 39,225 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $20.75, for a total value of $813,918.75. Following the completion of 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 increased its stake in shares of Finisar Corp. (NASDAQ:FNSR) by 62.0% during the fourth quarter, according to its most recent filing with the 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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