Finisar (NASDAQ:FNSR) received a $28.00 target price from analysts at Craig Hallum in a note issued to investors on Thursday. The brokerage presently has a “buy” rating on the technology company’s stock. Craig Hallum’s target price indicates a potential upside of 26.98% from the stock’s previous close.
A number of other research firms also recently weighed in on FNSR. DA Davidson reissued a “buy” rating and set a $40.00 target price on shares of Finisar in a research report on Thursday, September 7th. ValuEngine downgraded Finisar from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Piper Jaffray Companies reissued a “buy” rating and set a $30.00 target price (down from $32.00) on shares of Finisar in a research report on Tuesday, September 5th. B. Riley downgraded Finisar from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $31.00 to $22.00 in a research report on Wednesday, November 29th. Finally, Northland Securities set a $40.00 target price on Finisar and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $27.82.
Finisar (FNSR) opened at $22.05 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. The company has a market capitalization of $2,590.63, a PE ratio of 17.75, a PEG ratio of 2.20 and a beta of 1.14. Finisar has a 12 month low of $17.20 and a 12 month high of $36.41.
In other news, EVP John H. Clark sold 6,186 shares of Finisar stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total value of $154,031.40. Following the completion of the transaction, the executive vice president now owns 146,053 shares in the company, valued at $3,636,719.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roger C. Ferguson sold 2,726 shares of Finisar stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $21.46, for a total transaction of $58,499.96. Following the completion of the transaction, the director now owns 44,034 shares of the company’s stock, valued at approximately $944,969.64. The disclosure for this sale can be found here. Insiders sold 28,912 shares of company stock valued at $670,331 in the last quarter. 1.02% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of FNSR. Ladenburg Thalmann Financial Services Inc. raised its position in Finisar by 103.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after purchasing an additional 2,912 shares during the last quarter. Fortaleza Asset Management Inc. bought a new position in Finisar in the 2nd quarter worth approximately $138,000. PNC Financial Services Group Inc. raised its position in Finisar 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 during the last quarter. Cubist Systematic Strategies LLC raised its position in Finisar by 598.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after purchasing an additional 6,001 shares during the last quarter. Finally, Cheyne Capital Management UK LLP bought a new position in Finisar in the 3rd quarter worth approximately $155,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.
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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