Finisar (NASDAQ:FNSR) had its target price dropped by analysts at Loop Capital to $20.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has a “hold” rating on the technology company’s stock. Loop Capital’s target price would suggest a potential upside of 6.67% from the company’s current price.
A number of other analysts have also recently commented on FNSR. Zacks Investment Research cut Finisar from a “hold” rating to a “sell” rating in a research report on Wednesday, June 20th. BidaskClub upgraded Finisar from a “sell” rating to a “hold” rating in a research report on Saturday, June 16th. Raymond James cut Finisar from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 22nd. DA Davidson boosted their price target on Finisar to $26.00 and gave the company a “buy” rating in a research report on Friday, June 15th. Finally, Cascend Securities initiated coverage on Finisar in a research report on Friday, July 13th. They issued a “buy” rating and a $25.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $24.73.
FNSR opened at $18.75 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 3.24 and a current ratio of 4.00. Finisar has a one year low of $14.25 and a one year high of $25.41. The stock has a market cap of $2.24 billion, a PE ratio of 58.59, a PEG ratio of 2.89 and a beta of 1.38.
Finisar (NASDAQ:FNSR) last posted its earnings results on Thursday, September 6th. The technology company reported $0.18 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.06. Finisar had a positive return on equity of 2.74% and a negative net margin of 3.67%. The business 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 firm earned $0.40 earnings per share. The business’s revenue was down 7.2% compared to the same quarter last year. equities research analysts anticipate that Finisar will post 0.47 EPS for the current year.
In other Finisar news, EVP Julie Sheridan Eng sold 8,374 shares of Finisar stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $17.27, for a total value of $144,618.98. Following the sale, the executive vice president now owns 89,364 shares of the company’s stock, valued at approximately $1,543,316.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger C. Ferguson sold 3,000 shares of Finisar stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $17.77, for a total value of $53,310.00. Following the completion of the sale, the director now directly owns 25,784 shares in the company, valued at approximately $458,181.68. The disclosure for this sale can be found here. Insiders sold a total of 127,033 shares of company stock worth $2,299,466 in the last 90 days. 1.11% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in Finisar by 17.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 8,915,553 shares of the technology company’s stock valued at $160,479,000 after purchasing an additional 1,328,867 shares in the last quarter. DnB Asset Management AS boosted its holdings in Finisar by 16.5% in the 2nd quarter. DnB Asset Management AS now owns 6,826,104 shares of the technology company’s stock valued at $122,870,000 after purchasing an additional 964,507 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Finisar by 102.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,936,130 shares of the technology company’s stock valued at $88,850,000 after purchasing an additional 2,496,574 shares in the last quarter. FMR LLC boosted its holdings in Finisar by 28.6% in the 2nd quarter. FMR LLC now owns 2,987,300 shares of the technology company’s stock valued at $53,771,000 after purchasing an additional 664,490 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Finisar by 1.3% in the 1st quarter. Northern Trust Corp now owns 2,936,472 shares of the technology company’s stock valued at $46,426,000 after purchasing an additional 38,699 shares in the last quarter.
Finisar Company Profile
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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