DA Davidson restated their buy rating on shares of Finisar (NASDAQ:FNSR) in a research note published on Friday, March 9th, Marketbeat reports. The firm currently has a $22.00 target price on the technology company’s stock, down from their previous target price of $24.00.
A number of other research firms have also weighed in on FNSR. Raymond James Financial set a $22.00 target price on shares of Finisar and gave the company a buy rating in a report on Wednesday, December 13th. ValuEngine raised shares of Finisar from a hold rating to a buy rating in a report on Thursday, December 14th. Craig Hallum set a $28.00 price objective on shares of Finisar and gave the stock a buy rating in a research note on Thursday, December 14th. Goldman Sachs lowered shares of Finisar from a neutral rating to a sell rating and dropped their price objective for the stock from $22.74 to $16.00 in a research note on Monday, January 15th. Finally, Barclays set a $25.00 price objective on shares of Finisar and gave the stock a hold rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $24.56.
NASDAQ FNSR traded down $0.98 on Friday, reaching $14.83. 7,085,192 shares of the stock were exchanged, compared to its average volume of 4,511,599. Finisar has a one year low of $14.68 and a one year high of $28.99. The stock has a market cap of $1,813.33, a price-to-earnings ratio of 8.57, a PEG ratio of 2.40 and a beta of 1.17. The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, March 8th. The technology company reported $0.20 earnings per share (EPS) 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 business earned $0.59 earnings per share. The company’s quarterly revenue 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 year.
In other news, Director Roger C. Ferguson sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $17.30, for a total transaction of $51,900.00. Following the sale, the director now owns 28,784 shares in the company, valued at $497,963.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jerry S. Rawls sold 30,209 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $17.94, for a total value of $541,949.46. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. grew its stake 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 acquiring an additional 2,912 shares during the last quarter. Cubist Systematic Strategies LLC boosted its position in Finisar by 598.3% in the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after buying an additional 6,001 shares during the last quarter. First Mercantile Trust Co. purchased a new stake in Finisar in the fourth quarter valued at approximately $158,000. Janney Montgomery Scott LLC purchased a new stake in Finisar in the third quarter valued at approximately $217,000. Finally, Strategic Financial Services Inc purchased a new stake in Finisar in the third quarter valued at approximately $222,000. Institutional investors and hedge funds own 93.46% of the company’s stock.
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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