Several analysts have recently updated their ratings and price targets for Finisar (NASDAQ: FNSR):

  • 11/13/2018 – Finisar had its “buy” rating reaffirmed by analysts at Zacks Investment Research. They now have a $18.00 price target on the stock. According to Zacks, “Finisar continues to expand its product line of optical subsystems through R&D 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. It has low-cost manufacturing facilities in Ipoh, Malaysia and Wuxi, China, which minimizes the cost of production driven by cheap and efficient availability of labor. The company’s revenues are likely to increase manifold with the commercial deployment of 5G in China. Leveraging its sound engineering experience and technical knowhow, Finisar further aims to maintain a leading position in the optical subsystems and components industry. However, the stock has underperformed the industry in the past three months on an average. The current restrictions on export to China pose significant threat to Finisar’s business as majority of its revenues comes from overseas.”
  • 11/13/2018 – Finisar was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 11/12/2018 – Finisar was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating. They now have a $24.00 price target on the stock.
  • 11/12/2018 – Finisar had its price target lowered by analysts at Needham & Company LLC to $48.00. They now have a “buy” rating on the stock.
  • 11/9/2018 – Finisar was upgraded by analysts at Goldman Sachs Group Inc from a “sell” rating to a “neutral” rating. They now have a $21.79 price target on the stock.
  • 11/9/2018 – Finisar was downgraded by analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating.
  • 11/9/2018 – Finisar was downgraded by analysts at DA Davidson from a “buy” rating to a “hold” rating. They now have a $26.00 price target on the stock.
  • 11/7/2018 – Finisar was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 10/26/2018 – Finisar was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $18.00 price target on the stock. According to Zacks, “Finisar continues to expand its product line of optical subsystems through R&D 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. It has low-cost manufacturing units in Ipoh, Malaysia and Wuxi, China, which minimizes cost of production driven by cheap and efficient availability of labor. In addition, Finisar remains focused on targeting opportunities where it can use high-speed data transmission protocols. The company’s revenues are likely to increase manifold with the commercial deployment of 5G in China, owing to regional production and strategic presence in its markets. However, the stock has underperformed the industry in the past year on an average. The current restrictions on export to China also pose a significant threat to Finisar’s business as majority of its revenues comes from overseas.”
  • 10/25/2018 – Finisar was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Finisar continues to expand its product line of optical subsystems through R&D activities to meet evolving customer needs. The company believes in low cost and high value-added product manufacturing as a way to enhance revenues. It has low-cost manufacturing units in Ipoh, Malaysia and Wuxi, China, which minimizes cost of production driven by cheap and efficient availability of labor. Finisar remains focused on targeting opportunities where it can use high-speed data transmission protocols. 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 as majority of its revenues come from overseas. It faces tough competition from financially and technically stronger companies. With increasing market consolidation, Finisar is likely to face soft margins owing to promotional offers and discounts to woo customers.”
  • 10/24/2018 – Finisar was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 10/22/2018 – Finisar is now covered by analysts at Stifel Nicolaus. They set a “hold” rating and a $21.00 price target on the stock.
  • 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.

Finisar stock opened at $21.92 on Wednesday. Finisar Co. has a 52 week low of $14.25 and a 52 week high of $25.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 2.98. The stock has a market cap of $2.45 billion, a P/E ratio of 68.50, a price-to-earnings-growth ratio of 3.62 and a beta of 1.42.

Finisar (NASDAQ:FNSR) last posted its earnings results on Thursday, September 6th. The technology company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.06. Finisar had a positive return on equity of 1.24% and a negative net margin of 6.71%. The business had revenue of $317.30 million during the quarter, compared to analysts’ expectations of $315.77 million. During the same period in the previous year, the business earned $0.40 earnings per share. The firm’s revenue was down 7.2% on a year-over-year basis. As a group, equities research analysts predict that Finisar Co. will post 0.47 earnings per share for the current fiscal year.

In other Finisar news, Director Jerry S. Rawls sold 30,208 shares of Finisar stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $16.77, for a total transaction of $506,588.16. Following the completion of the sale, the director now owns 486,379 shares of the company’s stock, valued at $8,156,575.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jerry S. Rawls sold 40,000 shares of Finisar stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $19.24, for a total value of $769,600.00. Following the sale, the director now directly owns 483,258 shares of the company’s stock, valued at approximately $9,297,883.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,208 shares of company stock valued at $2,083,508. 1.11% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC bought a new stake in Finisar during the second quarter worth about $185,000. Cornerstone Wealth Management LLC bought a new stake in Finisar during the third quarter worth about $210,000. First Mercantile Trust Co. lifted its stake 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 purchasing an additional 3,610 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake 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 purchasing an additional 3,600 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC bought a new stake in Finisar during the third quarter worth about $277,000.

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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