Finisar Corporation (NASDAQ:FNSR) – Equities research analysts at William Blair reduced their Q4 2019 earnings per share (EPS) estimates for Finisar Corporation in a report issued on Wednesday. William Blair analyst D. Netis now forecasts that the technology company will post earnings of $0.34 per share for the quarter, down from their prior forecast of $0.48. William Blair currently has a “Outperform” rating on the stock.
A number of other research analysts also recently commented on FNSR. B. Riley reiterated a “buy” rating and issued a $30.75 price objective on shares of Finisar Corporation in a report on Tuesday. Jefferies Group LLC reiterated a “buy” rating and issued a $28.50 price objective (down previously from $34.00) on shares of Finisar Corporation in a report on Friday, September 8th. MKM Partners reiterated a “buy” rating and issued a $31.00 price objective (down previously from $33.00) on shares of Finisar Corporation in a report on Monday, September 11th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $32.00 price objective (down previously from $37.00) on shares of Finisar Corporation in a report on Friday, September 8th. Finally, Craig Hallum restated a “buy” rating and set a $28.00 price target (down previously from $38.00) on shares of Finisar Corporation in a research note on Friday, September 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. Finisar Corporation presently has an average rating of “Buy” and an average target price of $32.87.
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Shares of Finisar Corporation (FNSR) opened at 21.87 on Friday. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 10.29 and a beta of 1.33. The stock has a 50 day moving average of $23.93 and a 200-day moving average of $25.77. Finisar Corporation has a one year low of $20.16 and a one year high of $36.85.
Finisar Corporation (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.40. The firm had revenue of $341.80 million during the quarter, compared to analyst estimates of $341.22 million. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the business posted $0.38 EPS.
Institutional investors have recently bought and sold shares of the business. Fortaleza Asset Management Inc. acquired a new stake in Finisar Corporation during the 2nd quarter worth approximately $138,000. Westside Investment Management Inc. acquired a new stake in Finisar Corporation during the 1st quarter worth approximately $150,000. PNC Financial Services Group Inc. lifted its position in Finisar Corporation 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 acquiring an additional 1,805 shares during the period. Koch Industries Inc. acquired a new stake in Finisar Corporation during the 2nd quarter worth approximately $201,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Finisar Corporation during the 2nd quarter worth approximately $202,000. 86.38% of the stock is owned by institutional investors.
In other Finisar Corporation news, Chairman Jerry S. Rawls sold 25,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $25.93, for a total transaction of $648,250.00. Following the completion of the sale, the chairman now directly owns 815,188 shares of the company’s stock, valued at approximately $21,137,824.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark Colyar sold 2,244 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $27.31, for a total value of $61,283.64. The disclosure for this sale can be found here. Insiders have sold a total of 92,763 shares of company stock valued at $2,488,011 over the last ninety days. 1.02% of the stock is owned by insiders.
Finisar Corporation 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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