Jerry S. Rawls Sells 25,000 Shares of Finisar Corporation (FNSR) Stock
Finisar Corporation (NASDAQ:FNSR) Chairman Jerry S. Rawls sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $27.58, for a total value of $689,500.00. Following the sale, the chairman now owns 815,188 shares of the company’s stock, valued at $22,482,885.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Finisar Corporation (NASDAQ:FNSR) opened at 23.94 on Friday. Finisar Corporation has a 1-year low of $18.05 and a 1-year high of $36.85. The firm has a 50-day moving average price of $26.98 and a 200 day moving average price of $27.56. The company has a market capitalization of $2.67 billion, a P/E ratio of 10.93 and a beta of 1.32.
Finisar Corporation (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, June 15th. The technology company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The company had revenue of $357.50 million during the quarter, compared to analysts’ expectations of $359.65 million. Finisar Corporation had a return on equity of 13.91% and a net margin of 17.20%. Finisar Corporation’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. On average, equities analysts predict that Finisar Corporation will post $2.10 EPS for the current year.
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Hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Finisar Corporation by 3.6% in the first quarter. State Street Corp now owns 2,077,716 shares of the technology company’s stock valued at $56,802,000 after buying an additional 71,736 shares during the last quarter. VIEX Capital Advisors LLC acquired a new stake in shares of Finisar Corporation during the first quarter valued at approximately $2,460,000. Thrivent Financial For Lutherans raised its stake in shares of Finisar Corporation by 5.5% in the first quarter. Thrivent Financial For Lutherans now owns 450,650 shares of the technology company’s stock valued at $12,321,000 after buying an additional 23,310 shares during the last quarter. Peregrine Capital Management LLC raised its stake in shares of Finisar Corporation by 72.0% in the second quarter. Peregrine Capital Management LLC now owns 453,205 shares of the technology company’s stock valued at $11,774,000 after buying an additional 189,780 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Finisar Corporation by 57.5% in the first quarter. Sei Investments Co. now owns 199,159 shares of the technology company’s stock valued at $5,445,000 after buying an additional 72,686 shares during the last quarter.
FNSR has been the subject of a number of recent research reports. MKM Partners restated a “buy” rating and set a $32.00 price target (down from $41.00) on shares of Finisar Corporation in a research note on Friday, April 21st. Jefferies Group LLC restated a “buy” rating and set a $34.00 price target on shares of Finisar Corporation in a research note on Monday, May 15th. B. Riley restated a “buy” rating and set a $38.00 price target on shares of Finisar Corporation in a research note on Thursday, June 8th. ValuEngine downgraded Finisar Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, DA Davidson initiated coverage on Finisar Corporation in a research note on Thursday, June 29th. They set a “buy” rating and a $40.00 price target for the company. Two analysts have rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $36.84.
About Finisar Corporation
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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