Finisar (FNSR) Lifted to “Overweight” at Morgan Stanley

Morgan Stanley upgraded shares of Finisar (NASDAQ:FNSR) from an equal weight rating to an overweight rating in a research note released on Thursday morning, Marketbeat Ratings reports. They currently have $21.00 price objective on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Piper Jaffray raised their target price on shares of Finisar from $22.00 to $28.00 in a research report on Wednesday, December 13th. Northland Securities set a $29.00 target price on shares of Finisar and gave the stock a buy rating in a research report on Friday, December 8th. William Blair reissued a buy rating on shares of Finisar in a research report on Friday, December 8th. Raymond James Financial set a $22.00 target price on shares of Finisar and gave the stock a buy rating in a research report on Thursday, December 7th. Finally, Stifel Nicolaus decreased their target price on shares of Finisar from $27.00 to $23.00 and set a buy rating on the stock in a research report on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Finisar currently has a consensus rating of Hold and a consensus target price of $24.56.

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Shares of NASDAQ FNSR opened at $15.33 on Thursday. The stock has a market cap of $1,758.27, a PE ratio of 18.47, a PEG ratio of 2.33 and a beta of 1.17. Finisar has a 12 month low of $14.25 and a 12 month high of $28.99. The company has a quick ratio of 3.24, a current ratio of 4.06 and a debt-to-equity ratio of 0.29.

Finisar (NASDAQ:FNSR) last released its earnings results on Thursday, March 8th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 company had revenue of $332.40 million during the quarter, compared to analyst estimates of $333.15 million. During the same period in the prior year, the business posted $0.59 earnings per share. Finisar’s revenue was down 12.7% on a year-over-year basis. research analysts predict that Finisar will post 0.47 earnings per share for the current fiscal year.

In other Finisar news, Director Jerry S. Rawls sold 38,000 shares of Finisar stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $14.96, for a total transaction of $568,480.00. Following the transaction, the director now directly owns 601,258 shares of the company’s stock, valued at $8,994,819.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jerry S. Rawls sold 30,209 shares of the business’s stock in a transaction on 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 ninety days, insiders have sold 71,209 shares of company stock worth $1,162,329. 1.02% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Finisar by 103.4% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after purchasing an additional 2,912 shares in the last quarter. Cubist Systematic Strategies LLC lifted 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 purchasing an additional 6,001 shares in the last quarter. First Mercantile Trust Co. acquired a new position in shares of Finisar during the fourth quarter worth $158,000. Janney Montgomery Scott LLC acquired a new position in shares of Finisar during the third quarter worth $217,000. Finally, Aperio Group LLC acquired a new position in shares of Finisar during the fourth quarter worth $231,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

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Finisar Company Profile

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.

Analyst Recommendations for Finisar (NASDAQ:FNSR)

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