Finisar (NASDAQ:FNSR)‘s stock had its “buy” rating restated by research analysts at Craig Hallum in a research report issued to clients and investors on Tuesday.
A number of other analysts have also recently commented on FNSR. B. Riley reaffirmed a “buy” rating and set a $30.75 price target on shares of Finisar in a research report on Tuesday, September 12th. BidaskClub cut Finisar from a “sell” rating to a “strong sell” rating in a research report on Friday, December 29th. Northland Securities set a $33.00 price objective on Finisar and gave the company a “buy” rating in a report on Friday, December 29th. William Blair reissued an “outperform” rating on shares of Finisar in a report on Thursday, September 14th. Finally, ValuEngine raised Finisar from a “hold” rating to a “buy” rating in a report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Finisar has an average rating of “Buy” and a consensus target price of $28.35.
Finisar (NASDAQ:FNSR) traded down $0.28 during trading on Tuesday, hitting $21.46. The stock had a trading volume of 1,268,752 shares, compared to its average volume of 3,341,850. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. The firm has a market cap of $2,430.00, a PE ratio of 12.26, a price-to-earnings-growth ratio of 2.08 and a beta of 1.15. Finisar has a 52-week low of $17.20 and a 52-week high of $36.41.
In related news, SVP Mark Colyar sold 1,692 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $22.15, for a total value of $37,477.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roger C. Ferguson sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $21.68, for a total value of $65,040.00. Following the completion of the transaction, the director now owns 41,034 shares in the company, valued at $889,617.12. The disclosure for this sale can be found here. Insiders sold 52,369 shares of company stock valued at $1,189,715 over the last 90 days. Company insiders own 1.02% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FNSR. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Finisar by 103.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock valued at $127,000 after acquiring an additional 2,912 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Finisar by 43.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock worth $153,000 after acquiring an additional 1,805 shares during the period. Cubist Systematic Strategies LLC increased its position in shares of Finisar by 598.3% during the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after acquiring an additional 6,001 shares during the period. Cheyne Capital Management UK LLP purchased a new stake in shares of Finisar during the third quarter worth $155,000. Finally, Koch Industries Inc. purchased a new stake in shares of Finisar during the second quarter worth $201,000. Hedge funds and other institutional investors own 91.21% of the company’s stock.
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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