Finisar Corp. (FNSR) EVP Sells $467,255.25 in Stock
Finisar Corp. (NASDAQ:FNSR) EVP John H. Clark sold 17,325 shares of Finisar Corp. stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $26.97, for a total value of $467,255.25. Following the sale, the executive vice president now directly owns 174,838 shares of the company’s stock, valued at approximately $4,715,380.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Finisar Corp. (NASDAQ:FNSR) opened at 28.28 on Wednesday. The firm’s 50 day moving average price is $22.22 and its 200-day moving average price is $18.58. The stock has a market cap of $3.12 billion, a P/E ratio of 55.34 and a beta of 1.39. Finisar Corp. has a 12-month low of $10.66 and a 12-month high of $29.25.
Finisar Corp. (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 8th. The company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.08. The firm earned $341.30 million during the quarter, compared to analyst estimates of $331.34 million. Finisar Corp. had a return on equity of 7.61% and a net margin of 4.32%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. Equities research analysts anticipate that Finisar Corp. will post $1.73 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio increased its position in shares of Finisar Corp. by 20.4% in the second quarter. Strs Ohio now owns 6,500 shares of the company’s stock worth $113,000 after buying an additional 1,100 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Finisar Corp. by 12.9% in the second quarter. Public Employees Retirement System of Ohio now owns 7,297 shares of the company’s stock worth $128,000 after buying an additional 836 shares during the last quarter. Seven Eight Capital LLC acquired a new position in shares of Finisar Corp. during the second quarter worth approximately $138,000. BlackRock Inc. increased its position in shares of Finisar Corp. by 71.5% in the first quarter. BlackRock Inc. now owns 8,607 shares of the company’s stock worth $156,000 after buying an additional 3,589 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of Finisar Corp. during the second quarter worth approximately $191,000. 91.62% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on FNSR. Needham & Company LLC lifted their price target on Finisar Corp. from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research raised Finisar Corp. from a “hold” rating to a “strong-buy” rating and set a $32.00 price target for the company in a research note on Wednesday, September 14th. Stifel Nicolaus lifted their price target on Finisar Corp. from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, September 12th. B. Riley reaffirmed a “buy” rating and set a $32.25 price target on shares of Finisar Corp. in a research note on Sunday, September 11th. Finally, Jefferies Group lifted their price target on Finisar Corp. from $19.00 to $28.00 and gave the stock a “hold” rating in a research note on Friday, September 9th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $27.57.
Finisar Corp. Company Profile
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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