Finisar (FNSR) Reaches New 1-Year High and Low at $14.25

Shares of Finisar (NASDAQ:FNSR) hit a new 52-week high and low during mid-day trading on Wednesday . The stock traded as low as $14.25 and last traded at $14.66, with a volume of 2708323 shares. The stock had previously closed at $14.67.

Several analysts recently issued reports on the company. Piper Jaffray reissued a “buy” rating and issued a $22.00 price target on shares of Finisar in a report on Friday, December 8th. Zacks Investment Research downgraded Finisar from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. William Blair reaffirmed a “buy” rating on shares of Finisar in a research note on Monday, March 5th. Craig Hallum reaffirmed a “buy” rating on shares of Finisar in a research note on Tuesday, January 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Finisar in a research note on Monday, March 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.56.

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The company has a quick ratio of 3.24, a current ratio of 4.06 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1,686.02, a P/E ratio of 17.71, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17.

Finisar (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, March 8th. The technology company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.03). Finisar had a return on equity of 5.97% and a net margin of 7.35%. The firm had revenue of $332.40 million during the quarter, compared to the consensus estimate of $333.15 million. During the same period in the prior year, the firm posted $0.59 EPS. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. sell-side analysts anticipate that Finisar will post 0.47 earnings per share for the current year.

In other news, Director Jerry S. Rawls sold 38,000 shares of the business’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $14.96, for a total value of $568,480.00. Following the sale, the director now owns 601,258 shares of the company’s stock, valued at approximately $8,994,819.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger C. Ferguson sold 3,000 shares of the business’s stock in a transaction on Thursday, March 22nd. The stock was sold at an average price of $17.30, for a total value of $51,900.00. Following the completion of the sale, the director now directly owns 28,784 shares in the company, valued at approximately $497,963.20. The disclosure for this sale can be found here. Insiders sold a total of 71,209 shares of company stock worth $1,162,329 in the last three months. Company insiders own 1.02% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FNSR. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Finisar by 103.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after buying an additional 2,912 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Finisar by 598.3% in the 3rd 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 last quarter. First Mercantile Trust Co. acquired a new position in shares of Finisar in the 4th quarter worth $158,000. Janney Montgomery Scott LLC acquired a new position in shares of Finisar in the 3rd quarter worth $217,000. Finally, Aperio Group LLC acquired a new position in shares of Finisar in the 4th quarter worth $231,000. 93.46% of the stock is currently owned by institutional investors.

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About Finisar

Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical, or optoelectronic interface for interconnecting the electronic equipment used in networks comprising switches, routers, and servers used in wireline networks, as well as antennas and base stations used in wireless networks.

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