Finisar Corp. (FNSR) EVP Sells $334,795.80 in Stock
Finisar Corp. (NASDAQ:FNSR) EVP John H. Clark sold 11,265 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $29.72, for a total transaction of $334,795.80. Following the transaction, the executive vice president now directly owns 163,573 shares in the company, valued at $4,861,389.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Finisar Corp. (NASDAQ:FNSR) opened at 29.80 on Friday. The firm has a market capitalization of $3.29 billion, a PE ratio of 58.32 and a beta of 1.39. The company’s 50-day moving average is $24.58 and its 200 day moving average is $19.34. Finisar Corp. has a 1-year low of $11.04 and a 1-year high of $30.19.
Finisar Corp. (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, September 8th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.08. Finisar Corp. had a return on equity of 7.61% and a net margin of 4.32%. The firm had revenue of $341.30 million for the quarter, compared to analyst estimates of $331.34 million. During the same period in the previous year, the firm earned $0.23 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Finisar Corp. will post $1.73 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of FNSR. Acadian Asset Management LLC acquired a new position in shares of Finisar Corp. during the first quarter valued at about $554,000. Virginia Retirement System acquired a new position in shares of Finisar Corp. during the first quarter valued at about $505,000. TIAA CREF Investment Management LLC raised its position in shares of Finisar Corp. by 95.5% in the first quarter. TIAA CREF Investment Management LLC now owns 863,404 shares of the company’s stock valued at $15,748,000 after buying an additional 421,759 shares during the period. Teachers Advisors Inc. raised its position in shares of Finisar Corp. by 303.4% in the first quarter. Teachers Advisors Inc. now owns 780,656 shares of the company’s stock valued at $14,239,000 after buying an additional 587,150 shares during the period. Finally, Algert Global LLC acquired a new position in shares of Finisar Corp. during the first quarter valued at about $349,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on the stock. B. Riley reaffirmed a “buy” rating and set a $38.00 price objective on shares of Finisar Corp. in a research report on Friday. Needham & Company LLC boosted their target price on shares of Finisar Corp. from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday, September 19th. Zacks Investment Research raised shares of Finisar Corp. from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a research report on Wednesday, September 14th. Stifel Nicolaus boosted their target price on shares of Finisar Corp. from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Barclays PLC boosted their target price on shares of Finisar Corp. from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, September 9th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Finisar Corp. has an average rating of “Buy” and an average target price of $28.09.
About Finisar Corp.
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 and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks.
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