Finisar Corp. (FNSR) Sees Strong Trading Volume
Shares of Finisar Corp. (NASDAQ:FNSR) saw strong trading volume on Thursday . 1,564,301 shares were traded during mid-day trading, an increase of 39% from the previous session’s volume of 1,122,247 shares.The stock last traded at $22.14 and had previously closed at $21.18.
Several research analysts have recently issued reports on the company. B. Riley reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Finisar Corp. in a research note on Tuesday, June 14th. Zacks Investment Research raised Finisar Corp. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Monday, July 11th. Jefferies Group reaffirmed a “hold” rating and issued a $19.00 price objective (up previously from $18.00) on shares of Finisar Corp. in a research note on Friday, June 17th. TheStreet raised Finisar Corp. from a “hold” rating to a “buy” rating in a research note on Monday, June 20th. Finally, MKM Partners reaffirmed a “neutral” rating and issued a $19.00 price objective on shares of Finisar Corp. in a research note on Wednesday, June 15th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Finisar Corp. currently has a consensus rating of “Hold” and a consensus target price of $19.38.
The stock has a market cap of $2.40 billion and a P/E ratio of 69.75. The stock has a 50-day moving average price of $19.77 and a 200 day moving average price of $17.53.
Finisar Corp. (NASDAQ:FNSR) last released its earnings results on Thursday, June 16th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The firm earned $318.80 million during the quarter. Finisar Corp.’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. On average, equities analysts predict that Finisar Corp. will post $1.28 earnings per share for the current year.
In related news, SVP Mark Colyar sold 39,225 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $20.75, for a total value of $813,918.75. Following the completion of the sale, the senior vice president now owns 95,633 shares in the company, valued at approximately $1,984,384.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Joseph A. Young sold 5,545 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $21.90, for a total value of $121,435.50. Following the completion of the sale, the executive vice president now owns 220,832 shares of the company’s stock, valued at approximately $4,836,220.80. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Finisar Corp. stock. Employees Retirement System of Texas boosted its position in Finisar Corp. (NASDAQ:FNSR) by 62.0% during the fourth quarter, according to its most recent disclosure 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 about 0.08% of Finisar Corp. worth $1,178,000 as of its most recent filing with the SEC.
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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