Jefferies Group LLC reissued their buy rating on shares of Finisar Corporation (NASDAQ:FNSR) in a report published on Monday, June 12th. Jefferies Group LLC currently has a $34.00 target price on the technology company’s stock.
FNSR has been the topic of several other research reports. Citigroup Inc. raised shares of Finisar Corporation to a strong-buy rating and set a $40.00 price target on the stock in a research report on Monday, March 13th. Zacks Investment Research lowered shares of Finisar Corporation from a hold rating to a sell rating in a report on Tuesday, March 14th. Raymond James Financial, Inc. upgraded shares of Finisar Corporation from an outperform rating to a strong-buy rating and set a $40.00 price objective on the stock in a report on Monday, March 13th. Vetr lowered shares of Finisar Corporation from a buy rating to a hold rating and set a $35.76 price objective on the stock. in a report on Tuesday, February 21st. Finally, Needham & Company LLC restated a strong-buy rating and issued a $44.00 price objective on shares of Finisar Corporation in a report on Saturday, March 11th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. Finisar Corporation has a consensus rating of Buy and a consensus price target of $37.06.
Finisar Corporation (NASDAQ FNSR) traded down 0.73% during mid-day trading on Monday, hitting $27.38. 1,375,429 shares of the stock traded hands. The company has a market cap of $3.05 billion, a P/E ratio of 12.50 and a beta of 1.31. Finisar Corporation has a 12 month low of $16.73 and a 12 month high of $36.85. The company’s 50 day moving average is $24.89 and its 200 day moving average is $28.37.
Finisar Corporation (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, June 15th. The technology company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $357.50 million for the quarter, compared to analysts’ expectations of $359.65 million. Finisar Corporation had a net margin of 17.20% and a return on equity of 14.65%. The company’s revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. On average, analysts expect that Finisar Corporation will post $2.10 earnings per share for the current fiscal year.
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In other Finisar Corporation news, EVP Todd Swanson sold 6,183 shares of the stock in a transaction on Monday, April 17th. The stock was sold at an average price of $24.13, for a total value of $149,195.79. Following the completion of the transaction, the executive vice president now owns 229,219 shares in the company, valued at $5,531,054.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roger C. Ferguson sold 5,500 shares of the stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $27.03, for a total value of $148,665.00. Following the completion of the transaction, the director now owns 39,828 shares of the company’s stock, valued at approximately $1,076,550.84. The disclosure for this sale can be found here. Insiders sold 17,713 shares of company stock valued at $460,671 in the last quarter. 1.34% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. purchased a new position in shares of Finisar Corporation during the fourth quarter worth $6,140,000. State Board of Administration of Florida Retirement System boosted its position in shares of Finisar Corporation by 4.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 83,649 shares of the technology company’s stock worth $2,532,000 after buying an additional 3,433 shares in the last quarter. State Street Corp boosted its position in shares of Finisar Corporation by 5.3% in the fourth quarter. State Street Corp now owns 2,005,980 shares of the technology company’s stock worth $60,719,000 after buying an additional 101,095 shares in the last quarter. Federated Investors Inc. PA boosted its position in shares of Finisar Corporation by 275.3% in the fourth quarter. Federated Investors Inc. PA now owns 53,296 shares of the technology company’s stock worth $1,614,000 after buying an additional 39,094 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in Finisar Corporation during the fourth quarter worth approximately $277,000.
About Finisar Corporation
Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks.
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