Finisar Corporation (NASDAQ:FNSR) reached a new 52-week low during trading on Wednesday after Stifel Nicolaus lowered their price target on the stock from $27.00 to $23.00. Stifel Nicolaus currently has a buy rating on the stock. Finisar traded as low as $17.30 and last traded at $17.83, with a volume of 2864900 shares changing hands. The stock had previously closed at $18.11.
A number of other equities research analysts also recently commented on FNSR. B. Riley reissued a “buy” rating and issued a $30.75 target price on shares of Finisar in a report on Tuesday, September 12th. Zacks Investment Research raised Finisar from a “strong sell” rating to a “hold” rating in a report on Friday, December 1st. DA Davidson reissued a “buy” rating and issued a $30.00 target price on shares of Finisar in a report on Wednesday, November 29th. William Blair reissued an “outperform” rating on shares of Finisar in a report on Thursday, September 14th. Finally, Craig Hallum reissued a “buy” rating and issued a $28.00 target price (down previously from $38.00) on shares of Finisar in a report on Friday, September 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $30.28.
In related news, Chairman Jerry S. Rawls sold 20,000 shares of Finisar stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $22.89, for a total transaction of $457,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roger C. Ferguson sold 2,726 shares of Finisar stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $21.46, for a total value of $58,499.96. Following the sale, the director now owns 44,034 shares of the company’s stock, valued at approximately $944,969.64. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
The firm has a market capitalization of $2,060.00, a PE ratio of 10.68, a P/E/G ratio of 1.25 and a beta of 1.14. The company has a quick ratio of 6.24, a current ratio of 7.66 and a debt-to-equity ratio of 0.44.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The firm had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $341.22 million. Finisar had a return on equity of 13.11% and a net margin of 16.92%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. equities analysts anticipate that Finisar Corporation will post 1.04 earnings per share for the current year.
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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