Finisar (FNSR) Given New $18.00 Price Target at B. Riley
Finisar (NASDAQ:FNSR) had its price target decreased by B. Riley from $20.00 to $18.00 in a research report sent to investors on Thursday, Marketbeat Ratings reports. B. Riley currently has a buy rating on the technology company’s stock.
Several other research firms have also recently issued reports on FNSR. Raymond James Financial set a $22.00 price target on Finisar and gave the company a buy rating in a report on Wednesday, December 13th. ValuEngine upgraded Finisar from a hold rating to a buy rating in a report on Thursday, December 14th. Craig Hallum set a $28.00 price target on Finisar and gave the company a buy rating in a report on Thursday, December 14th. Jefferies Group started coverage on Finisar in a report on Wednesday, November 1st. They issued a buy rating and a $28.50 price target on the stock. Finally, Goldman Sachs Group cut Finisar from a neutral rating to a sell rating and decreased their price target for the company from $22.74 to $16.00 in a report on Monday, January 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Finisar has a consensus rating of Buy and a consensus price target of $27.02.
Shares of Finisar (FNSR) opened at $18.60 on Thursday. Finisar has a 12 month low of $16.64 and a 12 month high of $35.25. The firm has a market capitalization of $2,069.54, a price-to-earnings ratio of 10.74, a PEG ratio of 1.96 and a beta of 1.02. The company has a quick ratio of 6.31, a current ratio of 7.81 and a debt-to-equity ratio of 0.44.
In other Finisar news, Director Roger C. Ferguson sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $21.68, for a total transaction of $65,040.00. Following the transaction, the director now owns 41,034 shares in the company, valued at $889,617.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jerry S. Rawls sold 30,209 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $17.94, for a total value of $541,949.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,578 shares of company stock worth $1,273,865. Company insiders own 1.02% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in Finisar by 10.8% during the third quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock worth $107,146,000 after buying an additional 471,882 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in Finisar by 1,459.2% during the fourth quarter. Alliancebernstein L.P. now owns 3,152,517 shares of the technology company’s stock worth $64,154,000 after buying an additional 2,950,327 shares during the last quarter. DnB Asset Management AS boosted its holdings in Finisar by 22.9% during the fourth quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock worth $45,758,000 after buying an additional 419,120 shares during the last quarter. State Street Corp boosted its holdings in Finisar by 5.9% during the second quarter. State Street Corp now owns 2,199,440 shares of the technology company’s stock worth $57,141,000 after buying an additional 121,724 shares during the last quarter. Finally, Snow Capital Management LP boosted its holdings in Finisar by 20.5% during the fourth quarter. Snow Capital Management LP now owns 2,163,902 shares of the technology company’s stock worth $44,035,000 after buying an additional 368,382 shares during the last quarter. Hedge funds and other institutional investors own 92.46% of the company’s stock.
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Finisar Company Profile
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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