Finisar Corporation (NASDAQ:FNSR) has earned a consensus recommendation of “Buy” from the seventeen research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $36.73.

Several brokerages have recently commented on FNSR. B. Riley restated a “buy” rating and issued a $38.00 target price on shares of Finisar Corporation in a research report on Sunday, June 18th. Northland Securities restated a “buy” rating and issued a $40.00 target price on shares of Finisar Corporation in a research report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and issued a $33.00 target price on shares of Finisar Corporation in a research report on Saturday, July 22nd. Zacks Investment Research cut shares of Finisar Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Finally, DA Davidson began coverage on shares of Finisar Corporation in a research report on Thursday, June 29th. They issued a “buy” rating and a $40.00 target price for the company.

Shares of Finisar Corporation (NASDAQ FNSR) traded down 0.04% during mid-day trading on Friday, reaching $23.42. 2,157,176 shares of the company’s stock traded hands. Finisar Corporation has a 12 month low of $19.70 and a 12 month high of $36.85. The stock has a market cap of $2.61 billion, a PE ratio of 10.69 and a beta of 1.32. The firm has a 50 day moving average price of $26.54 and a 200-day moving average price of $27.33.

Finisar Corporation (NASDAQ:FNSR) last issued its earnings results on Thursday, June 15th. The technology company reported $0.50 EPS 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 net margin of 17.20% and a return on equity of 13.91%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 EPS. On average, analysts predict that Finisar Corporation will post $2.10 earnings per share for the current fiscal year.

In other Finisar Corporation news, Chairman Jerry S. Rawls sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $25.93, for a total transaction of $648,250.00. Following the sale, the chairman now directly owns 815,188 shares of the company’s stock, valued at approximately $21,137,824.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Julie Sheridan Eng sold 5,576 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $27.27, for a total transaction of $152,057.52. The disclosure for this sale can be found here. Insiders have sold a total of 101,789 shares of company stock worth $2,754,189 over the last ninety days. 1.02% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Finisar Corporation by 2.4% in the second quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock worth $231,435,000 after buying an additional 208,692 shares during the last quarter. Renaissance Technologies LLC raised its stake in Finisar Corporation by 3.0% in the first quarter. Renaissance Technologies LLC now owns 4,287,000 shares of the technology company’s stock worth $117,207,000 after buying an additional 126,400 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Finisar Corporation by 36.3% in the first quarter. Ameriprise Financial Inc. now owns 3,180,178 shares of the technology company’s stock worth $86,945,000 after buying an additional 846,559 shares during the last quarter. Northern Trust Corp raised its stake in Finisar Corporation by 3.8% in the second quarter. Northern Trust Corp now owns 2,907,058 shares of the technology company’s stock worth $75,525,000 after buying an additional 107,680 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Finisar Corporation by 302.4% in the first quarter. Wellington Management Group LLP now owns 2,828,356 shares of the technology company’s stock worth $77,327,000 after buying an additional 2,125,445 shares during the last quarter. 98.18% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This piece of content was reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/12/finisar-corporation-nasdaqfnsr-receives-average-recommendation-of-buy-from-analysts.html.

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.

Analyst Recommendations for Finisar Corporation (NASDAQ:FNSR)

Receive News & Ratings for Finisar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.