Finisar Co. (NASDAQ:FNSR) shares gapped up prior to trading on Tuesday . The stock had previously closed at $20.88, but opened at $20.32. Finisar shares last traded at $19.94, with a volume of 2981541 shares.

Several research analysts have weighed in on FNSR shares. Piper Jaffray Companies upped their target price on Finisar from $22.00 to $28.00 in a research report on Wednesday, December 13th. Raymond James Financial set a $22.00 price objective on Finisar and gave the company a “buy” rating in a report on Wednesday, December 13th. DA Davidson reissued a “buy” rating and set a $30.00 price objective on shares of Finisar in a report on Wednesday, November 29th. Northland Securities set a $29.00 price objective on Finisar and gave the company a “buy” rating in a report on Friday, December 8th. Finally, William Blair reissued a “buy” rating on shares of Finisar in a report on Friday, December 8th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company. Finisar has a consensus rating of “Hold” and a consensus price target of $24.56.

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The company has a market capitalization of $2,290.00, a price-to-earnings ratio of 16.34, a PEG ratio of 2.22 and a beta of 1.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.24 and a current ratio of 4.06.

Finisar (NASDAQ:FNSR) last released its earnings results on Thursday, March 8th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.03). The business had revenue of $332.40 million during the quarter, compared to analyst estimates of $333.15 million. Finisar had a net margin of 7.35% and a return on equity of 5.97%. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.59 EPS. research analysts expect that Finisar Co. will post 0.65 EPS for the current year.

In other Finisar news, Director Jerry S. Rawls sold 30,209 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $17.94, for a total value of $541,949.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 value of $65,040.00. Following the completion of the sale, the director now directly owns 41,034 shares in the company, valued at approximately $889,617.12. The disclosure for this sale can be found here. Insiders sold a total of 56,392 shares of company stock worth $1,119,833 in the last ninety days. Insiders own 1.02% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in Finisar by 10.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock valued at $107,146,000 after buying an additional 471,882 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Finisar by 1,459.2% in the 4th quarter. Alliancebernstein L.P. now owns 3,152,517 shares of the technology company’s stock valued at $64,154,000 after buying an additional 2,950,327 shares during the last quarter. DnB Asset Management AS lifted its position in shares of Finisar by 22.9% in the 4th quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock worth $45,758,000 after acquiring an additional 419,120 shares during the period. Snow Capital Management LP lifted its position in shares of Finisar by 20.5% in the 4th quarter. Snow Capital Management LP now owns 2,163,902 shares of the technology company’s stock worth $44,035,000 after acquiring an additional 368,382 shares during the period. Finally, Franklin Resources Inc. bought a new stake in shares of Finisar in the 4th quarter worth approximately $30,515,000. 94.03% of the stock is currently owned by hedge funds and other institutional investors.

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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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