Finisar (NASDAQ:FNSR) was downgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “sell” rating in a note issued to investors on Monday, The Fly reports.

A number of other research firms have also recently commented on FNSR. Raymond James Financial set a $22.00 target price on shares of Finisar and gave the stock a “buy” rating in a research note on Wednesday, December 13th. ValuEngine upgraded shares of Finisar from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Craig Hallum set a $28.00 target price on shares of Finisar and gave the stock a “buy” rating in a research note on Thursday, December 14th. Jefferies Group began coverage on shares of Finisar in a research note on Wednesday, November 1st. They issued a “buy” rating and a $28.50 target price for the company. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $26.00 target price on shares of Finisar in a research note on Sunday, September 17th. Three analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $28.82.

Finisar (FNSR) traded up $0.48 during trading hours on Monday, hitting $22.74. 4,094,262 shares of the stock were exchanged, compared to its average volume of 5,950,000. Finisar has a twelve month low of $17.20 and a twelve month high of $36.41. The company has a market cap of $2,590.00, a PE ratio of 12.99, a P/E/G ratio of 2.24 and a beta of 1.15. The company has a quick ratio of 6.31, a current ratio of 7.81 and a debt-to-equity ratio of 0.44.

Finisar (NASDAQ:FNSR) last released its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $332.21 million for the quarter, compared to analysts’ expectations of $331.69 million. Finisar had a net margin of 14.33% and a return on equity of 9.51%. equities analysts expect that Finisar will post 0.73 earnings per share for the current fiscal year.

In other Finisar news, Director Roger C. Ferguson sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $21.68, for a total transaction of $65,040.00. Following the completion of the transaction, the director now directly owns 41,034 shares of the company’s stock, valued at approximately $889,617.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Julie Sheridan Eng sold 1,466 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $21.70, for a total transaction of $31,812.20. Following the transaction, the executive vice president now directly owns 69,150 shares of the company’s stock, valued at $1,500,555. The disclosure for this sale can be found here. Insiders have sold a total of 52,369 shares of company stock valued at $1,189,715 over the last three months. 1.02% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank increased its holdings in shares of Finisar by 2.9% during the 2nd quarter. Amalgamated Bank now owns 13,912 shares of the technology company’s stock valued at $361,000 after purchasing an additional 396 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of Finisar by 5.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,795 shares of the technology company’s stock valued at $254,000 after purchasing an additional 507 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Finisar by 1.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 61,782 shares of the technology company’s stock valued at $1,605,000 after purchasing an additional 684 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Finisar by 20.6% during the 2nd quarter. Advisory Services Network LLC now owns 8,500 shares of the technology company’s stock valued at $221,000 after purchasing an additional 1,450 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its holdings in shares of Finisar by 0.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 452,320 shares of the technology company’s stock valued at $11,751,000 after purchasing an additional 1,670 shares in the last quarter. 91.28% of the stock is owned by institutional investors.

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About Finisar

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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