Finisar (NASDAQ:FNSR)‘s stock had its “neutral” rating reiterated by analysts at MKM Partners in a research note issued to investors on Thursday, The Fly reports. They presently have a $24.00 price objective on the technology company’s stock. MKM Partners’ target price suggests a potential upside of 6.71% from the company’s current price.
A number of other equities analysts have also weighed in on FNSR. Zacks Investment Research raised Finisar from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Raymond James lowered Finisar from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 22nd. BidaskClub raised Finisar from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Piper Jaffray Companies raised Finisar from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $18.00 to $26.00 in a research note on Thursday, August 23rd. Finally, B. Riley lowered their price objective on Finisar from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 4th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. Finisar currently has a consensus rating of “Buy” and an average target price of $25.25.
NASDAQ FNSR opened at $22.49 on Thursday. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 70.28, a P/E/G ratio of 4.11 and a beta of 1.56. The company has a current ratio of 3.69, a quick ratio of 2.98 and a debt-to-equity ratio of 0.31. Finisar has a fifty-two week low of $14.25 and a fifty-two week high of $25.41.
In related news, Director Roger C. Ferguson sold 3,000 shares of the stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $18.44, for a total transaction of $55,320.00. Following the transaction, the director now owns 32,920 shares of the company’s stock, valued at approximately $607,044.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jerry S. Rawls sold 40,000 shares of the stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $18.80, for a total value of $752,000.00. Following the transaction, the director now directly owns 456,171 shares in the company, valued at approximately $8,576,014.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,208 shares of company stock worth $2,235,108. Corporate insiders own 1.11% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC acquired a new position in Finisar during the 2nd quarter worth about $185,000. Cornerstone Wealth Management LLC acquired a new position in Finisar during the 3rd quarter worth about $210,000. First Mercantile Trust Co. lifted its stake in Finisar by 42.7% during the 3rd quarter. First Mercantile Trust Co. now owns 12,070 shares of the technology company’s stock worth $230,000 after acquiring an additional 3,610 shares in the last quarter. Strategic Wealth Advisors Group LLC acquired a new position in Finisar during the 3rd quarter worth about $277,000. Finally, Riverhead Capital Management LLC lifted its stake in Finisar by 44.2% during the 3rd quarter. Riverhead Capital Management LLC now owns 17,300 shares of the technology company’s stock worth $330,000 after acquiring an additional 5,300 shares in the last quarter. 99.40% of the stock is currently owned by hedge funds and other institutional investors.
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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