Finisar Corp. (FNSR) Hits New 12-Month High at $19.61
Finisar Corp. (NASDAQ:FNSR) reached a new 52-week high during trading on Friday . The company traded as high as $19.61 and last traded at $19.53, with a volume of 595,959 shares trading hands. The stock had previously closed at $18.99.
A number of research firms have commented on FNSR. B. Riley restated a “buy” rating and issued a $24.50 target price on shares of Finisar Corp. in a research report on Sunday, June 19th. Needham & Company LLC lifted their target price on Finisar Corp. from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, June 20th. Zacks Investment Research downgraded Finisar Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. TheStreet upgraded Finisar Corp. from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Finally, Jefferies Group reiterated a “hold” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Finisar Corp. in a report on Friday, June 17th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $19.04.
The stock has a 50-day moving average of $18.26 and a 200-day moving average of $16.41. The firm has a market capitalization of $2.10 billion and a price-to-earnings ratio of 61.03.
Finisar Corp. (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, June 16th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.04. During the same quarter last year, the business earned $0.25 EPS. The business had revenue of $318.80 million for the quarter. The firm’s revenue was down .4% on a year-over-year basis. Equities analysts predict that Finisar Corp. will post $1.28 earnings per share for the current year.
In related news, EVP Christopher Brown sold 70,212 shares of Finisar Corp. stock in a transaction on Friday, June 17th. The stock was sold at an average price of $19.10, for a total value of $1,341,049.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Joseph A. Young sold 2,500 shares of Finisar Corp. stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $18.50, for a total value of $46,250.00. Following the completion of the transaction, the executive vice president now owns 194,404 shares in the company, valued at approximately $3,596,474. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Finisar Corp. by 2.6% in the fourth quarter. Rhumbline Advisers now owns 145,722 shares of the company’s stock worth $2,119,000 after buying an additional 3,723 shares during the last quarter. New York State Common Retirement Fund boosted its position in shares of Finisar Corp. by 2.3% in the fourth quarter. New York State Common Retirement Fund now owns 97,100 shares of the company’s stock worth $1,412,000 after buying an additional 2,200 shares during the last quarter. Trexquant Investment LP boosted its position in shares of Finisar Corp. by 88.8% in the fourth quarter. Trexquant Investment LP now owns 85,903 shares of the company’s stock worth $1,249,000 after buying an additional 40,403 shares during the last quarter. Finally, Employees Retirement System of Texas boosted its position in shares of Finisar Corp. by 62.0% in the fourth quarter. Employees Retirement System of Texas now owns 81,000 shares of the company’s stock worth $1,178,000 after buying an additional 31,000 shares during the last 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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