Finisar (NASDAQ:FNSR)‘s stock had its “buy” rating reissued by analysts at DA Davidson in a report released on Friday, Marketbeat.com reports. They presently have a $22.00 price target on the technology company’s stock, down from their previous price target of $24.00. DA Davidson’s price objective indicates a potential upside of 13.96% from the company’s current price.
Several other research analysts also recently weighed in on the company. Goldman Sachs Group downgraded Finisar from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $22.74 to $16.00 in a research note on Monday, January 15th. B. Riley downgraded Finisar from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $31.00 to $22.00 in a research note on Wednesday, November 29th. Zacks Investment Research downgraded Finisar from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. Craig Hallum restated a “buy” rating on shares of Finisar in a research note on Tuesday, January 2nd. Finally, Loop Capital initiated coverage on Finisar in a research note on Monday, January 29th. They issued a “hold” rating and a $19.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Finisar has a consensus rating of “Hold” and a consensus target price of $26.25.
Finisar (NASDAQ FNSR) opened at $19.31 on Friday. The stock has a market capitalization of $2,100.00, a P/E ratio of 15.70, a P/E/G ratio of 2.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.31 and a current ratio of 7.81. Finisar has a 52 week low of $16.64 and a 52 week high of $29.41.
In other news, Director Jerry S. Rawls sold 30,209 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $17.94, for a total transaction of $541,949.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John H. Clark sold 6,186 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total value of $154,031.40. Following the transaction, the executive vice president now owns 146,053 shares of the company’s stock, valued at $3,636,719.70. The disclosure for this sale can be found here. Insiders have sold a total of 62,578 shares of company stock valued at $1,273,865 over the last quarter. Corporate insiders own 1.02% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FNSR. Alliancebernstein L.P. boosted its position in shares of Finisar by 1,459.2% during the 4th quarter. Alliancebernstein L.P. now owns 3,152,517 shares of the technology company’s stock valued at $64,154,000 after acquiring an additional 2,950,327 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Finisar during the 4th quarter valued at $30,515,000. Pinnacle Associates Ltd. purchased a new stake in Finisar during the 3rd quarter valued at $28,033,000. Glenmede Trust Co. NA raised its holdings in Finisar by 3,941.8% during the 4th quarter. Glenmede Trust Co. NA now owns 825,578 shares of the technology company’s stock valued at $16,799,000 after buying an additional 805,152 shares during the period. Finally, Royce & Associates LP raised its holdings in Finisar by 664.0% during the 4th quarter. Royce & Associates LP now owns 610,400 shares of the technology company’s stock valued at $12,422,000 after buying an additional 530,500 shares during the period. Hedge funds and other institutional investors own 92.46% of the company’s stock.
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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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