FNSR has been the subject of several other research reports. Raymond James Financial reissued an outperform rating on shares of Finisar in a research report on Monday, March 5th. Zacks Investment Research downgraded Finisar from a hold rating to a sell rating in a report on Wednesday, December 13th. ValuEngine upgraded Finisar from a hold rating to a buy rating in a report on Thursday, January 25th. Piper Jaffray lifted their price objective on Finisar from $22.00 to $28.00 in a research report on Wednesday, December 13th. Finally, BidaskClub raised Finisar from a strong sell rating to a sell rating in a research report on Wednesday, March 7th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $24.56.
Shares of FNSR stock traded down $0.98 during trading on Friday, hitting $14.83. The company had a trading volume of 7,085,192 shares, compared to its average volume of 4,511,599. Finisar has a 52 week low of $14.68 and a 52 week high of $28.99. The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29. The stock has a market cap of $1,813.33, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 2.40 and a beta of 1.17.
Finisar (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, March 8th. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Finisar had a net margin of 7.35% and a return on equity of 5.97%. The company had revenue of $332.40 million for the quarter, compared to analysts’ expectations of $333.15 million. During the same period last year, the company posted $0.59 EPS. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. sell-side analysts forecast that Finisar will post 0.47 EPS for the current fiscal year.
In related news, Director Jerry S. Rawls sold 30,209 shares of Finisar stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $17.94, for a total transaction of $541,949.46. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Roger C. Ferguson sold 3,000 shares of Finisar stock in a transaction that occurred 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 transaction, the director now owns 28,784 shares in the company, valued at approximately $497,963.20. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of FNSR. Alliancebernstein L.P. increased its stake in Finisar by 1,459.2% during the fourth quarter. Alliancebernstein L.P. now owns 3,152,517 shares of the technology company’s stock worth $64,154,000 after acquiring an additional 2,950,327 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Finisar during the fourth quarter worth $30,515,000. Pinnacle Associates Ltd. acquired a new stake in shares of Finisar in the third quarter valued at $28,033,000. Glenmede Trust Co. NA grew its stake in shares of Finisar by 3,941.8% in the fourth quarter. Glenmede Trust Co. NA now owns 825,578 shares of the technology company’s stock valued at $16,799,000 after buying an additional 805,152 shares in the last quarter. Finally, Royce & Associates LP grew its stake in shares of Finisar by 664.0% in the fourth quarter. Royce & Associates LP now owns 610,400 shares of the technology company’s stock valued at $12,422,000 after buying an additional 530,500 shares in the last quarter. 93.46% of the stock is owned by institutional investors.
WARNING: This piece was originally posted by Enterprise Leader and is owned by of Enterprise Leader. If you are accessing this piece on another site, it was stolen and republished in violation of international copyright & trademark laws. The legal version of this piece can be viewed at https://theenterpriseleader.com/2018/04/02/finisar-fnsr-given-a-15-00-price-target-at-goldman-sachs.html.
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.
Receive News & Ratings for Finisar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar and related companies with MarketBeat.com's FREE daily email newsletter.