Finisar (NASDAQ:FNSR) gapped down before the market opened on Monday . The stock had previously closed at $16.87, but opened at $16.28. Finisar shares last traded at $15.62, with a volume of 5360320 shares changing hands.

A number of research firms have commented on FNSR. Goldman Sachs set a $15.00 price target on Finisar and gave the company a “sell” rating in a report on Wednesday, April 11th. BidaskClub cut Finisar from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 28th. Stifel Nicolaus decreased their price target on Finisar from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, March 9th. Raymond James Financial reaffirmed an “outperform” rating on shares of Finisar in a report on Monday, March 5th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $22.00 target price (down from $24.00) on shares of Finisar in a report on Friday, March 9th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Finisar currently has an average rating of “Hold” and a consensus target price of $24.56.

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The company has a quick ratio of 3.24, a current ratio of 4.06 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1,867.23, a PE ratio of 9.03, a PEG ratio of 2.47 and a beta of 1.17.

Finisar (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, March 8th. The technology company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.03). Finisar had a return on equity of 5.97% and a net margin of 7.35%. The company had revenue of $332.40 million for the quarter, compared to the consensus estimate of $333.15 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The company’s revenue was down 12.7% compared to the same quarter last year. equities analysts predict that Finisar will post 0.47 EPS for the current fiscal year.

In other Finisar news, Director Jerry S. Rawls sold 38,000 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $14.96, for a total transaction of $568,480.00. Following the sale, the director now directly owns 601,258 shares of the company’s stock, valued at $8,994,819.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roger C. Ferguson sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $17.30, for a total value of $51,900.00. Following the sale, the director now directly owns 28,784 shares in the company, valued at $497,963.20. The disclosure for this sale can be found here. Insiders have sold 71,209 shares of company stock worth $1,162,329 over the last three months. 1.02% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 471,882 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Finisar by 1,459.2% during the fourth 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 period. DnB Asset Management AS boosted its position in shares of Finisar by 22.9% during the fourth quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock valued at $45,758,000 after buying an additional 419,120 shares during the period. Snow Capital Management LP boosted its position in shares of Finisar by 20.5% during the fourth quarter. Snow Capital Management LP now owns 2,163,902 shares of the technology company’s stock valued at $44,035,000 after buying an additional 368,382 shares during the period. Finally, Franklin Resources Inc. purchased a new position in shares of Finisar during the fourth quarter valued at approximately $30,515,000. 92.60% of the stock is currently owned by institutional investors.

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About Finisar

Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical, or optoelectronic interface for interconnecting the electronic equipment used in networks comprising switches, routers, and servers used in wireline networks, as well as antennas and base stations used in wireless networks.

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