A number of research firms have changed their ratings and price targets for Finisar (NASDAQ: FNSR):

  • 10/17/2018 – Finisar was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/16/2018 – Finisar was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $19.00 price target on the stock. According to Zacks, “Finisar continues to expand its broad product line of optical subsystems through dedicated research and development activities to meet the evolving customer needs. The company believes in low cost and high value-added product manufacturing as a way to enhance revenues. Finisar has low cost manufacturing units in Ipoh, Malaysia and Wuxi, China, which significantly lowers the cost of production driven by cheap and efficient availability of labor, offering a competitive edge over its rivals. The company remains focused on targeting opportunities where it can use its high-speed data transmission protocols as these technologies are used across multiple data and telecommunication applications. However, the stock has underperformed the industry in the past three months on an average. The current restrictions on export to China pose a significant threat to Finisar’s business, given that majority of its revenues come from overseas.”
  • 10/12/2018 – Finisar was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/11/2018 – Finisar was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 9/18/2018 – Finisar was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 9/13/2018 – Finisar was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $20.00 price target on the stock.
  • 9/9/2018 – Finisar had its “hold” rating reaffirmed by analysts at Barclays PLC. They now have a $24.00 price target on the stock.
  • 9/7/2018 – Finisar had its price target lowered by analysts at Loop Capital to $20.00. They now have a “hold” rating on the stock.
  • 9/4/2018 – Finisar had its price target lowered by analysts at B. Riley from $19.00 to $17.00. They now have a “neutral” rating on the stock.
  • 8/23/2018 – Finisar was upgraded by analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating. They now have a $26.00 price target on the stock, up previously from $18.00.
  • 8/23/2018 – Finisar was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/22/2018 – Finisar was downgraded by analysts at Raymond James from an “outperform” rating to a “market perform” rating.
  • 8/20/2018 – Finisar was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Finisar’s quarterly revenues and operating results have shown frequent fluctuations and these are expected to continue, resulting in volatility in stock price. The current restrictions on export to China pose a significant threat to the company’s business, given that majority of its revenues come from overseas. Moreover, Finisar’s ongoing transfer of certain manufacturing operations to low-cost overseas locations is likely to backfire with higher trade tariffs. However, the stock has outperformed the industry in the past three months on an average. Growing relevance of the fiber optics market makes the company’s products increasingly important in industries such as high-performance computing, military, medical and consumer electronics. Finisar is also expanding its broad product line of optical subsystems through dedicated R&D activities to meet the increasing customer needs, which augurs well for its long-term growth.”

Shares of NASDAQ FNSR opened at $18.10 on Thursday. The company has a quick ratio of 2.98, a current ratio of 3.65 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.23 billion, a P/E ratio of 56.56, a PEG ratio of 2.84 and a beta of 1.36. Finisar Co. has a 52-week low of $14.25 and a 52-week high of $25.41.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, September 6th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $317.30 million during the quarter, compared to analyst estimates of $315.77 million. Finisar had a positive return on equity of 1.24% and a negative net margin of 6.71%. Finisar’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. Analysts anticipate that Finisar Co. will post 0.47 EPS for the current year.

In related news, Director Jerry S. Rawls sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $19.24, for a total value of $769,600.00. Following the completion of the sale, the director now owns 483,258 shares in the company, valued at $9,297,883.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roger C. Ferguson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $18.44, for a total transaction of $55,320.00. Following the completion of the transaction, the director now directly owns 32,920 shares of the company’s stock, valued at approximately $607,044.80. The disclosure for this sale can be found here. Insiders sold 113,208 shares of company stock valued at $2,090,154 in the last quarter. 1.11% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Janus Henderson Group PLC bought a new position in Finisar in the second quarter worth approximately $185,000. Xact Kapitalforvaltning AB raised its stake in Finisar by 27.9% in the first quarter. Xact Kapitalforvaltning AB now owns 16,511 shares of the technology company’s stock worth $261,000 after buying an additional 3,600 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Finisar in the second quarter worth approximately $348,000. Profund Advisors LLC bought a new position in Finisar in the first quarter worth approximately $349,000. Finally, Balter Liquid Alternatives LLC raised its stake in Finisar by 68.8% in the second quarter. Balter Liquid Alternatives LLC now owns 22,243 shares of the technology company’s stock worth $412,000 after buying an additional 9,062 shares in the last quarter.

Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies 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 wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.

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