Zacks Investment Research Upgrades Finisar (FNSR) to Hold
Zacks Investment Research upgraded shares of Finisar (NASDAQ:FNSR) from a sell rating to a hold rating in a research report sent to investors on Thursday.
According to Zacks, “FINISAR CORP. is a provider of fiber optic subsystems and network test and monitoring systems which enable high-speed data communications over local area networks, or LANs, storage area networks, or SANs, and metropolitan access networks, or MANs. They are focused on the application of digital fiber optics to provide aline of high-performance, reliable, value-added optical subsystems for data networking and storage equipment manufacturers. “
Other equities research analysts have also issued research reports about the stock. Craig Hallum set a $28.00 price objective on shares of Finisar and gave the stock a buy rating in a report on Thursday, December 14th. Raymond James Financial set a $22.00 price objective on shares of Finisar and gave the stock a buy rating in a report on Thursday, December 7th. ValuEngine lowered shares of Finisar from a buy rating to a hold rating in a report on Friday, February 2nd. Loop Capital began coverage on shares of Finisar in a report on Monday, January 29th. They set a hold rating and a $19.00 price objective on the stock. Finally, William Blair reissued a buy rating on shares of Finisar in a report on Friday, December 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $27.27.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The firm had revenue of $332.21 million for the quarter, compared to analyst estimates of $331.69 million. sell-side analysts predict that Finisar will post 0.66 EPS for the current fiscal year.
In related news, CFO Kurt Adzema sold 20,025 shares of the stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $22.15, for a total value of $443,553.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jerry S. Rawls sold 30,209 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total transaction of $541,949.46. The disclosure for this sale can be found here. Insiders sold a total of 62,578 shares of company stock worth $1,273,865 over the last quarter. 1.02% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in FNSR. PNC Financial Services Group Inc. raised its holdings in Finisar by 43.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock worth $153,000 after buying an additional 1,805 shares during the period. New York State Common Retirement Fund grew its stake in shares of Finisar by 10.4% in the second quarter. New York State Common Retirement Fund now owns 128,872 shares of the technology company’s stock valued at $3,348,000 after buying an additional 12,171 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in shares of Finisar by 1.1% in the second quarter. UBS Asset Management Americas Inc. now owns 61,782 shares of the technology company’s stock valued at $1,605,000 after buying an additional 684 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Finisar by 2.4% in the second quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock valued at $231,435,000 after buying an additional 208,692 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Finisar by 134.8% in the second quarter. FMR LLC now owns 434,610 shares of the technology company’s stock valued at $11,291,000 after buying an additional 249,540 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Upgrades Finisar (FNSR) to Hold” was first posted by Daily Political and is owned by of Daily Political. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://www.dailypolitical.com/2018/02/09/zacks-investment-research-upgrades-finisar-fnsr-to-hold.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Finisar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar and related companies with MarketBeat.com's FREE daily email newsletter.