Finisar Corp. (FNSR) Trading Up 2.7%
Finisar Corp. (NASDAQ:FNSR)’s share price was up 2.7% during mid-day trading on Monday . The company traded as high as $21.07 and last traded at $21.05, with a volume of 505,633 shares. The stock had previously closed at $20.49.
A number of equities analysts have recently issued reports on FNSR shares. Needham & Company LLC upped their price objective on Finisar Corp. from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, June 20th. Barclays PLC restated an “equal weight” rating and set a $20.00 target price (up from $17.00) on shares of Finisar Corp. in a report on Friday, June 17th. TheStreet upgraded Finisar Corp. from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Jefferies Group restated a “hold” rating and set a $19.00 target price (up from $18.00) on shares of Finisar Corp. in a report on Friday, June 17th. Finally, Zacks Investment Research upgraded Finisar Corp. from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, July 11th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.38.
The firm has a 50 day moving average of $19.32 and a 200-day moving average of $17.25. The firm has a market capitalization of $2.27 billion and a price-to-earnings ratio of 65.72.
Finisar Corp. (NASDAQ:FNSR) last issued its earnings results 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 quarter last year, the business earned $0.25 earnings per share. The firm earned $318.80 million during the quarter. The company’s revenue was down .4% on a year-over-year basis. On average, equities analysts forecast that Finisar Corp. will post $1.28 earnings per share for the current year.
In other news, EVP Joseph A. Young sold 2,500 shares of Finisar Corp. stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $18.98, for a total value of $47,450.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christopher Brown sold 70,212 shares of Finisar Corp. stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $19.10, for a total value of $1,341,049.20. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Finisar Corp. stock. Trexquant Investment LP boosted its stake in Finisar Corp. (NASDAQ:FNSR) by 88.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 85,903 shares of the company’s stock after buying an additional 40,403 shares during the period. Trexquant Investment LP owned about 0.08% of Finisar Corp. worth $1,249,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.