Brokerages Set Finisar Co. (NASDAQ:FNSR) Target Price at $26.28

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Finisar Co. (NASDAQ:FNSR) has been given an average recommendation of “Hold” by the sixteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $26.42.

FNSR has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Hersha Hospitality Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. B. Riley reaffirmed a “neutral” rating on shares of Finisar in a research note on Friday, June 14th. BidaskClub lowered Boingo Wireless from a “sell” rating to a “strong sell” rating in a research note on Monday, June 10th. MKM Partners dropped their price objective on Finisar to $23.00 and set a “neutral” rating for the company in a research note on Friday, June 14th. Finally, Stifel Nicolaus set a $23.00 price objective on Finisar and gave the stock a “hold” rating in a research note on Friday, June 14th.

Institutional investors have recently made changes to their positions in the stock. Investors Research Corp bought a new position in Finisar during the first quarter valued at approximately $37,000. Bessemer Group Inc. bought a new position in Finisar during the fourth quarter valued at approximately $43,000. Versant Capital Management Inc boosted its stake in Finisar by 117.2% during the first quarter. Versant Capital Management Inc now owns 2,604 shares of the technology company’s stock valued at $60,000 after buying an additional 1,405 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in Finisar during the fourth quarter valued at approximately $221,000. Finally, Magnus Financial Group LLC bought a new position in Finisar during the fourth quarter valued at approximately $235,000. 96.61% of the stock is owned by institutional investors.

Shares of FNSR opened at $23.05 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 5.72 and a current ratio of 7.12. The stock has a 50-day moving average of $22.34. The stock has a market capitalization of $2.76 billion, a PE ratio of 39.07, a price-to-earnings-growth ratio of 2.56 and a beta of 1.50. Finisar has a 52 week low of $15.81 and a 52 week high of $24.77.

Finisar (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, June 13th. The technology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The business had revenue of $310.09 million during the quarter, compared to analysts’ expectations of $323.42 million. Finisar had a positive return on equity of 4.22% and a negative net margin of 4.16%. Equities research analysts forecast that Finisar will post 0.76 EPS for the current year.

Finisar Company Profile

Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies 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 wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.

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Analyst Recommendations for Finisar (NASDAQ:FNSR)

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