Jerry S. Rawls Sells 20,000 Shares of Finisar Corporation (FNSR) Stock

Finisar Corporation (NASDAQ:FNSR) Chairman Jerry S. Rawls sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total value of $457,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Finisar Corporation (FNSR) opened at $19.40 on Friday. The company has a quick ratio of 6.24, a current ratio of 7.66 and a debt-to-equity ratio of 0.44. Finisar Corporation has a 12 month low of $18.88 and a 12 month high of $36.85. The firm has a market cap of $2,209.43, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 1.32 and a beta of 1.19.

Finisar Corporation (NASDAQ:FNSR) last released its earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The business had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. During the same period last year, the company posted $0.38 EPS. The business’s revenue was up .1% on a year-over-year basis. sell-side analysts predict that Finisar Corporation will post 1.07 earnings per share for the current fiscal year.

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FNSR has been the topic of a number of analyst reports. Northland Securities restated a “buy” rating and set a $40.00 target price on shares of Finisar Corporation in a research report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and set a $33.00 target price on shares of Finisar Corporation in a research report on Saturday, July 22nd. DA Davidson restated a “buy” rating and set a $40.00 target price on shares of Finisar Corporation in a research report on Thursday, September 7th. B. Riley restated a “buy” rating and set a $38.00 target price on shares of Finisar Corporation in a research report on Wednesday, September 6th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $30.00 target price (down from $32.00) on shares of Finisar Corporation in a research report on Tuesday, September 5th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Finisar Corporation presently has an average rating of “Buy” and a consensus price target of $32.60.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fortaleza Asset Management Inc. purchased a new position in Finisar Corporation in the 2nd quarter worth approximately $138,000. PNC Financial Services Group Inc. lifted its stake in Finisar Corporation by 43.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock worth $153,000 after purchasing an additional 1,805 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in Finisar Corporation in the 2nd quarter worth approximately $202,000. Westside Investment Management Inc. lifted its stake in Finisar Corporation by 33.3% in the 2nd quarter. Westside Investment Management Inc. now owns 8,000 shares of the technology company’s stock worth $218,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Thompson Davis & CO. Inc. purchased a new position in Finisar Corporation in the 2nd quarter worth approximately $217,000. 87.67% of the stock is currently owned by institutional investors and hedge funds.

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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