Brokerages Set Finisar Co. (NASDAQ:FNSR) Target Price at $23.80

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Shares of Finisar Co. (NASDAQ:FNSR) have been given an average recommendation of “Hold” by the nine analysts that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $23.80.

FNSR has been the topic of a number of recent analyst reports. MKM Partners cut their price objective on shares of Finisar from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, September 5th. Zacks Investment Research raised shares of Finisar from a “sell” rating to a “hold” rating and set a $26.00 price objective for the company in a report on Monday, September 23rd. Finally, BidaskClub lowered shares of Finisar from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th.

A number of large investors have recently made changes to their positions in FNSR. Quantamental Technologies LLC acquired a new stake in Finisar in the second quarter worth approximately $227,000. Supplemental Annuity Collective Trust of NJ lifted its holdings in shares of Finisar by 10.0% in the second quarter. Supplemental Annuity Collective Trust of NJ now owns 11,000 shares of the technology company’s stock valued at $252,000 after buying an additional 1,000 shares during the period. Jane Street Group LLC bought a new position in Finisar during the second quarter valued at about $258,000. Bank of Montreal Can boosted its stake in Finisar by 519.6% during the second quarter. Bank of Montreal Can now owns 11,637 shares of the technology company’s stock valued at $266,000 after buying an additional 9,759 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in Finisar by 6.0% during the second quarter. Royal Bank of Canada now owns 14,728 shares of the technology company’s stock worth $336,000 after acquiring an additional 831 shares during the period. 99.65% of the stock is currently owned by hedge funds and other institutional investors.

FNSR stock remained flat at $$22.38 on Friday. Finisar has a 52 week low of $15.81 and a 52 week high of $25.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 5.38 and a current ratio of 6.84. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 37.93, a P/E/G ratio of 4.19 and a beta of 1.52. The business has a 50 day moving average of $22.77 and a two-hundred day moving average of $22.77.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.12. Finisar had a positive return on equity of 4.62% and a negative net margin of 3.48%. The company had revenue of $285.03 million during the quarter, compared to analyst estimates of $309.58 million. On average, equities research analysts anticipate that Finisar will post 0.57 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.

See Also: Liquidity

Analyst Recommendations for Finisar (NASDAQ:FNSR)

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