Finisar Corp. (FNSR) Sets New 1-Year High at $21.44
Finisar Corp. (NASDAQ:FNSR) shares hit a new 52-week high on Tuesday . The company traded as high as $21.44 and last traded at $21.26, with a volume of 684,363 shares trading hands. The stock had previously closed at $21.03.
A number of research analysts recently weighed in on FNSR shares. TheStreet upgraded shares of Finisar Corp. from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $20.00 price target on shares of Finisar Corp. in a research note on Wednesday, June 15th. B. Riley reiterated a “buy” rating and issued a $20.00 price target on shares of Finisar Corp. in a research note on Tuesday, June 14th. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 price target (up previously from $22.00) on shares of Finisar Corp. in a research note on Tuesday, June 14th. Finally, Zacks Investment Research upgraded shares of Finisar Corp. from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Wednesday, May 4th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Finisar Corp. has an average rating of “Hold” and an average target price of $19.38.
The firm has a market cap of $2.28 billion and a price-to-earnings ratio of 66.19. The company’s 50-day moving average price is $19.56 and its 200 day moving average price is $17.47.
Finisar Corp. (NASDAQ:FNSR) last posted its earnings results on Thursday, June 16th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. During the same period in the previous year, the business posted $0.25 earnings per share. The business had revenue of $318.80 million for the quarter. The business’s quarterly 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 fiscal year.
In other Finisar Corp. news, EVP Joseph A. Young sold 6,690 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $21.40, for a total value of $143,166.00. Following the completion of the sale, the executive vice president now owns 226,377 shares of the company’s stock, valued at $4,844,467.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark Colyar sold 39,225 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $20.75, for a total transaction of $813,918.75. Following the completion of the sale, the senior vice president now directly owns 95,633 shares of the company’s stock, 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 boosted its stake in shares of Finisar Corp. (NASDAQ:FNSR) by 62.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 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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