Analysts Set Finisar Co. (FNSR) Price Target at $22.87

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Finisar Co. (NASDAQ:FNSR) has been given an average rating of “Hold” by the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $23.05.

Several research firms have weighed in on FNSR. DA Davidson downgraded Finisar from a “buy” rating to a “hold” rating in a research note on Friday. Piper Jaffray Companies downgraded Finisar from an “overweight” rating to a “neutral” rating in a research note on Friday. Goldman Sachs Group upgraded Finisar from a “sell” rating to a “neutral” rating in a research note on Friday. BidaskClub upgraded Finisar from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 4th. Finally, Loop Capital dropped their price target on Finisar to $20.00 and set a “hold” rating for the company in a research note on Friday, September 7th.

Shares of NASDAQ:FNSR traded up $2.91 during mid-day trading on Monday, reaching $21.79. 23,730,518 shares of the company traded hands, compared to its average volume of 1,772,471. The company 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 has a 52 week low of $14.25 and a 52 week high of $25.41.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, September 6th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.06. The company had revenue of $317.30 million during the quarter, compared to the consensus estimate of $315.77 million. Finisar had a positive return on equity of 1.24% and a negative net margin of 6.71%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. Equities research analysts predict that Finisar will post 0.47 earnings per share for the current fiscal year.

In other news, Director Roger C. Ferguson sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $18.44, for a total transaction of $55,320.00. Following the sale, the director now directly owns 32,920 shares of the company’s stock, valued at approximately $607,044.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerry S. Rawls sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $18.80, for a total value of $752,000.00. Following the sale, the director now directly owns 456,171 shares in the company, valued at $8,576,014.80. The disclosure for this sale can be found here. Insiders have sold a total of 113,208 shares of company stock worth $2,083,508 over the last ninety days. Insiders own 1.11% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in shares of Finisar by 20.9% during the 3rd quarter. FMR LLC now owns 3,612,002 shares of the technology company’s stock worth $68,809,000 after acquiring an additional 624,702 shares in the last quarter. American International Group Inc. raised its holdings in shares of Finisar by 4.1% during the 3rd quarter. American International Group Inc. now owns 92,146 shares of the technology company’s stock worth $1,755,000 after acquiring an additional 3,642 shares in the last quarter. Cim Investment Mangement Inc. purchased a new stake in shares of Finisar during the 3rd quarter worth approximately $359,000. Bank of New York Mellon Corp raised its holdings in shares of Finisar by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,995,786 shares of the technology company’s stock worth $95,171,000 after acquiring an additional 59,656 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Finisar by 111.2% during the 3rd quarter. Alliancebernstein L.P. now owns 8,278,822 shares of the technology company’s stock worth $157,712,000 after acquiring an additional 4,359,557 shares in the last quarter.

About Finisar

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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Analyst Recommendations for Finisar (NASDAQ:FNSR)

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