Shares of Finisar Co. (NASDAQ:FNSR) have earned an average rating of “Hold” from the eighteen analysts that are covering the firm, Marketbeat reports. Eleven research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $23.05.
A number of brokerages have recently commented on FNSR. DA Davidson cut shares of Finisar from a “buy” rating to a “hold” rating in a report on Friday. Piper Jaffray Companies lowered Finisar from an “overweight” rating to a “neutral” rating in a research report on Friday. Goldman Sachs Group raised Finisar from a “sell” rating to a “neutral” rating in a research report on Friday. BidaskClub raised Finisar from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 4th. Finally, Loop Capital lowered their price target on Finisar to $20.00 and set a “hold” rating for the company in a research report on Friday, September 7th.
In other Finisar news, Director Jerry S. Rawls sold 30,208 shares of the business’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $16.77, for a total value of $506,588.16. Following the completion of the transaction, the director now owns 486,379 shares of the company’s stock, valued at approximately $8,156,575.83. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jerry S. Rawls sold 40,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $19.24, for a total value of $769,600.00. Following the completion of the transaction, the director now directly owns 483,258 shares of the company’s stock, valued at approximately $9,297,883.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,208 shares of company stock valued at $2,083,508. 1.11% of the stock is owned by insiders.
Shares of FNSR stock traded up $2.91 during mid-day trading on Monday, reaching $21.79. 23,730,518 shares of the company’s stock traded hands, compared to its average volume of 1,772,471. Finisar has a 12 month low of $14.25 and a 12 month high of $25.41. The stock has a market cap of $2.10 billion, a PE ratio of 99.61, a price-to-earnings-growth ratio of 3.10 and a beta of 1.42. The company has a current ratio of 3.65, a quick ratio of 2.98 and a debt-to-equity ratio of 0.31.
Finisar (NASDAQ:FNSR) last announced its earnings results on Thursday, September 6th. The technology company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.06. Finisar had a negative net margin of 6.71% and a positive return on equity of 1.24%. The firm had revenue of $317.30 million for the quarter, compared to analysts’ expectations of $315.77 million. During the same quarter in the previous year, the business posted $0.40 EPS. The company’s quarterly revenue was down 7.2% on a year-over-year basis. On average, sell-side analysts forecast that Finisar will post 0.47 earnings per share for the current fiscal year.
Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies 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 wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.
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