Finisar (FNSR) Cut to “Hold” at ValuEngine

Finisar (NASDAQ:FNSR) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

A number of other equities research analysts also recently weighed in on FNSR. Piper Jaffray Companies downgraded shares of Finisar from an “overweight” rating to a “neutral” rating in a research note on Monday, January 29th. Stifel Nicolaus lowered their target price on shares of Finisar from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Loop Capital assumed coverage on shares of Finisar in a research note on Monday, January 29th. They issued a “hold” rating and a $19.00 target price on the stock. Jefferies Group assumed coverage on shares of Finisar in a research note on Wednesday, November 1st. They issued a “buy” rating and a $28.50 target price on the stock. Finally, Zacks Investment Research raised shares of Finisar from a “strong sell” rating to a “hold” rating in a research note on Friday, December 1st. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $27.27.

Shares of Finisar (NASDAQ FNSR) opened at $17.58 on Friday. The firm has a market cap of $2,004.54, a P/E ratio of 10.05, a P/E/G ratio of 1.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. Finisar has a one year low of $17.20 and a one year high of $36.41.

Finisar (NASDAQ:FNSR) last announced its earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $332.21 million for the quarter, compared to the consensus estimate of $331.69 million. Finisar had a net margin of 14.33% and a return on equity of 9.51%. equities analysts anticipate that Finisar will post 0.71 EPS for the current fiscal year.

In other news, Director Jerry S. Rawls sold 30,209 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total value of $541,949.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John H. Clark sold 6,186 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $24.90, for a total transaction of $154,031.40. Following the completion of the transaction, the executive vice president now owns 146,053 shares in the company, valued at approximately $3,636,719.70. The disclosure for this sale can be found here. Insiders have sold 62,578 shares of company stock worth $1,273,865 over the last three months. Insiders own 1.02% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Amalgamated Bank boosted its holdings in Finisar by 2.9% in the second quarter. Amalgamated Bank now owns 13,912 shares of the technology company’s stock valued at $361,000 after acquiring an additional 396 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings in Finisar by 5.5% in the second quarter. Ameritas Investment Partners Inc. now owns 9,795 shares of the technology company’s stock valued at $254,000 after acquiring an additional 507 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Finisar by 1.1% in the second quarter. UBS Asset Management Americas Inc. now owns 61,782 shares of the technology company’s stock valued at $1,605,000 after acquiring an additional 684 shares in the last quarter. Advisory Services Network LLC boosted its holdings in Finisar by 20.6% in the second quarter. Advisory Services Network LLC now owns 8,500 shares of the technology company’s stock valued at $221,000 after acquiring an additional 1,450 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings 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 acquiring an additional 1,805 shares in the last quarter. Institutional investors and hedge funds own 91.46% of the company’s stock.

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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.

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