Julie Sheridan Eng Sells 1,466 Shares of Finisar Corporation (FNSR) Stock

Finisar Corporation (NASDAQ:FNSR) EVP Julie Sheridan Eng sold 1,466 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $21.70, for a total value of $31,812.20. Following the completion of the sale, the executive vice president now directly owns 69,150 shares of the company’s stock, valued at $1,500,555. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of Finisar Corporation (NASDAQ FNSR) traded down $0.37 during midday trading on Friday, hitting $21.39. The stock had a trading volume of 2,565,026 shares, compared to its average volume of 7,372,300. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.31 and a current ratio of 7.81. Finisar Corporation has a 12-month low of $17.20 and a 12-month high of $36.41. The stock has a market capitalization of $2,481.16, a P/E ratio of 12.22, a price-to-earnings-growth ratio of 2.14 and a beta of 1.14.

Finisar (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. Finisar had a return on equity of 9.51% and a net margin of 14.33%. The firm had revenue of $332.21 million for the quarter, compared to the consensus estimate of $331.69 million. research analysts expect that Finisar Corporation will post 0.73 EPS for the current year.

Several research firms have recently issued reports on FNSR. Raymond James Financial set a $26.00 price objective on Finisar and gave the company a “buy” rating in a research note on Tuesday. Craig Hallum set a $28.00 price objective on Finisar and gave the company a “buy” rating in a research note on Thursday, December 14th. ValuEngine raised Finisar from a “hold” rating to a “buy” rating in a research note on Thursday, December 14th. Zacks Investment Research lowered Finisar from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. Finally, Piper Jaffray Companies raised their price objective on Finisar from $22.00 to $28.00 in a research note on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $28.08.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ladenburg Thalmann Financial Services Inc. increased its holdings in Finisar by 103.4% during 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 period. PNC Financial Services Group Inc. increased its holdings in Finisar by 43.9% during 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 period. Cubist Systematic Strategies LLC increased its holdings in Finisar by 598.3% during 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 period. Westside Investment Management Inc. increased its holdings in Finisar by 33.3% during 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 during the period. Finally, Thompson Davis & CO. Inc. purchased a new position in Finisar during the 2nd quarter worth $217,000. Institutional investors own 91.21% of the company’s stock.

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Finisar Company Profile

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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