Piper Jaffray Companies lowered shares of Finisar (NASDAQ:FNSR) from an overweight rating to a neutral rating in a report released on Friday morning, The Fly reports.

Several other research analysts have also recently weighed in on FNSR. Zacks Investment Research upgraded shares of Finisar from a hold rating to a buy rating and set a $18.00 price target for the company in a report on Friday, October 26th. DA Davidson cut shares of Finisar from a buy rating to a hold rating in a report on Friday. BidaskClub upgraded shares of Finisar from a sell rating to a hold rating in a report on Wednesday, October 24th. ValuEngine cut shares of Finisar from a hold rating to a sell rating in a report on Thursday, October 11th. Finally, Stifel Nicolaus began coverage on shares of Finisar in a report on Monday, October 22nd. They issued a hold rating and a $21.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Finisar currently has a consensus rating of Hold and an average target price of $23.46.

Shares of Finisar stock traded up $2.91 on Friday, hitting $21.79. The company had a trading volume of 23,730,518 shares, compared to its average volume of 1,772,471. The stock has a market capitalization of $2.10 billion, a PE ratio of 68.09, a price-to-earnings-growth ratio of 3.10 and a beta of 1.42. Finisar has a twelve month low of $14.25 and a twelve month high of $25.41. The company has a quick ratio of 2.98, a current ratio of 3.65 and a debt-to-equity ratio of 0.31.

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

In related news, Director Jerry S. Rawls sold 30,208 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $16.77, for a total transaction of $506,588.16. Following the completion of the transaction, the director now owns 486,379 shares in the company, valued at $8,156,575.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roger C. Ferguson sold 3,000 shares of the stock in a transaction 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 transaction, the director now 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 have sold 113,208 shares of company stock valued at $2,083,508 in the last 90 days. 1.11% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FNSR. Lumina Fund Management LLC raised its position in Finisar by 10.3% during the second quarter. Lumina Fund Management LLC now owns 30,000 shares of the technology company’s stock worth $540,000 after acquiring an additional 2,800 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in Finisar by 27.9% during the first quarter. Xact Kapitalforvaltning AB now owns 16,511 shares of the technology company’s stock worth $261,000 after acquiring an additional 3,600 shares in the last quarter. First Mercantile Trust Co. raised its position in Finisar by 42.7% during the third quarter. First Mercantile Trust Co. now owns 12,070 shares of the technology company’s stock worth $230,000 after acquiring an additional 3,610 shares in the last quarter. American International Group Inc. raised its position in Finisar by 4.1% during the third quarter. American International Group Inc. now owns 92,146 shares of the technology company’s stock worth $1,755,000 after acquiring an additional 3,642 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Finisar by 15.3% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,982 shares of the technology company’s stock worth $533,000 after acquiring an additional 3,721 shares in the last quarter.

Finisar Company Profile

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.

Read More: Compound Annual Growth Rate (CAGR)

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Analyst Recommendations for Finisar (NASDAQ:FNSR)

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