Analysts at Morgan Stanley assumed coverage on shares of Finisar (NASDAQ:FNSR) in a research report issued on Friday, Marketbeat.com reports. The firm set an “equal weight” rating and a $21.00 price target on the technology company’s stock. Morgan Stanley’s price objective points to a potential upside of 8.78% from the company’s previous close.
Several other brokerages have also commented on FNSR. Piper Jaffray Companies lifted their price objective on shares of Finisar from $22.00 to $28.00 in a research report on Wednesday, December 13th. DA Davidson reissued a “buy” rating and issued a $30.00 price target on shares of Finisar in a research report on Wednesday, November 29th. Raymond James Financial set a $26.00 price target on shares of Finisar and gave the company a “buy” rating in a research report on Tuesday, December 19th. Needham & Company LLC lowered shares of Finisar from a “buy” rating to a “hold” rating and boosted their price target for the company from $16.64 to $29.41 in a research report on Friday. Finally, Zacks Investment Research raised shares of Finisar from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.25.
Shares of Finisar (NASDAQ FNSR) opened at $19.31 on Friday. The company has a market cap of $2,214.19, a PE ratio of 23.26, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. Finisar has a 12-month low of $16.64 and a 12-month high of $29.41.
In related news, CFO Kurt Adzema sold 20,025 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $22.15, for a total transaction of $443,553.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerry S. Rawls sold 30,209 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total transaction of $541,949.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,578 shares of company stock valued at $1,273,865. 1.02% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Penbrook Management LLC purchased a new position in Finisar during the fourth quarter valued at approximately $517,000. Xact Kapitalforvaltning AB purchased a new position in Finisar during the fourth quarter valued at approximately $263,000. Phocas Financial Corp. purchased a new position in Finisar during the fourth quarter valued at approximately $5,785,000. MetLife Investment Advisors LLC purchased a new position in Finisar during the fourth quarter valued at approximately $1,077,000. Finally, Glenmede Trust Co. NA grew its stake in Finisar by 3,941.8% during the fourth quarter. Glenmede Trust Co. NA now owns 825,578 shares of the technology company’s stock valued at $16,799,000 after acquiring an additional 805,152 shares in the last quarter. 92.46% of the stock is owned by institutional investors.
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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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