Finisar (FNSR) Stock Rating Lowered by ValuEngine

Finisar (NASDAQ:FNSR) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

A number of other research analysts have also recently commented on FNSR. B. Riley reaffirmed a “buy” rating and issued a $30.75 target price on shares of Finisar in a research report on Tuesday, September 12th. BidaskClub cut shares of Finisar from a “sell” rating to a “strong sell” rating in a research report on Friday, December 29th. Craig Hallum reissued a “buy” rating on shares of Finisar in a research report on Tuesday. Northland Securities set a $33.00 price target on shares of Finisar and gave the stock a “buy” rating in a research report on Friday, December 29th. Finally, William Blair reissued an “outperform” rating on shares of Finisar in a research report on Thursday, September 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $28.35.

Finisar (NASDAQ:FNSR) traded down $0.20 during midday trading on Wednesday, reaching $21.54. 3,249,100 shares of the company’s stock were exchanged, compared to its average volume of 3,310,933. Finisar has a 52 week low of $17.20 and a 52 week high of $36.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. The firm has a market capitalization of $2,460.00, a PE ratio of 12.31, a P/E/G ratio of 2.14 and a beta of 1.15.

Finisar (NASDAQ:FNSR) last posted its earnings results on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The company had revenue of $332.21 million for the quarter, compared to analysts’ expectations of $331.69 million. equities research analysts anticipate that Finisar will post 0.73 EPS for the current fiscal year.

In related news, CFO Kurt Adzema sold 20,025 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $22.15, for a total value of $443,553.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Jerry S. Rawls sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total transaction of $457,800.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,369 shares of company stock worth $1,189,715. 1.02% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. raised its holdings in Finisar by 103.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock valued at $127,000 after acquiring an additional 2,912 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Finisar by 43.9% in the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,805 shares during the last quarter. Cheyne Capital Management UK LLP purchased a new position in Finisar in the third quarter valued at approximately $155,000. Cubist Systematic Strategies LLC increased its stake in Finisar by 598.3% in the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after purchasing an additional 6,001 shares during the last quarter. Finally, Koch Industries Inc. purchased a new position in Finisar in the second quarter valued at approximately $201,000. 91.21% of the stock is currently owned by hedge funds and other institutional investors.

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About Finisar

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.

Analyst Recommendations for Finisar (NASDAQ:FNSR)

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