Finisar (NASDAQ:FNSR) had its price objective cut by Stifel Nicolaus from $24.00 to $22.00 in a report released on Friday morning, Marketbeat reports. They currently have a buy rating on the technology company’s stock.
A number of other research analysts have also recently weighed in on the stock. Morgan Stanley assumed coverage on shares of Finisar in a research report on Friday. They set an equal weight rating and a $21.00 price objective on the stock. Needham & Company LLC cut shares of Finisar from a buy rating to a hold rating and boosted their price objective for the company from $16.64 to $29.41 in a research report on Friday. BidaskClub upgraded shares of Finisar from a strong sell rating to a sell rating in a research report on Wednesday, March 7th. Raymond James Financial reiterated an outperform rating on shares of Finisar in a research report on Monday, March 5th. Finally, William Blair reiterated a buy rating on shares of Finisar in a research report on Monday, March 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Hold and an average target price of $26.13.
Finisar (NASDAQ:FNSR) opened at $20.32 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.24 and a current ratio of 4.06. Finisar has a 1 year low of $16.64 and a 1 year high of $29.07. The firm has a market cap of $2,320.00, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02.
In related news, Director Roger C. Ferguson sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 41,034 shares of the company’s stock, valued at $889,617.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jerry S. Rawls sold 30,209 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was 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. Over the last 90 days, insiders sold 62,578 shares of company stock worth $1,273,865. Company insiders own 1.02% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Penbrook Management LLC purchased a new stake in Finisar in the fourth quarter worth about $517,000. Xact Kapitalforvaltning AB purchased a new stake in Finisar in the fourth quarter worth about $263,000. Phocas Financial Corp. purchased a new stake in Finisar in the fourth quarter worth about $5,785,000. MetLife Investment Advisors LLC purchased a new stake in Finisar in the fourth quarter worth about $1,077,000. Finally, Glenmede Trust Co. NA lifted its stake in Finisar by 3,941.8% in the fourth quarter. Glenmede Trust Co. NA now owns 825,578 shares of the technology company’s stock worth $16,799,000 after acquiring an additional 805,152 shares during the period. 94.03% of the stock is owned by institutional investors.
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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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