Finisar (NASDAQ:FNSR) has been assigned a $23.00 price objective by analysts at Barclays in a report released on Saturday. The firm presently has a “hold” rating on the technology company’s stock. Barclays’ price objective suggests a potential upside of 19.11% from the company’s current price.
FNSR has been the topic of a number of other reports. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Finisar in a research note on Friday, December 8th. Zacks Investment Research downgraded shares of Finisar from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. William Blair reiterated a “buy” rating on shares of Finisar in a research report on Monday, March 5th. Needham & Company LLC downgraded shares of Finisar from a “strong-buy” rating to a “buy” rating and dropped their target price for the company from $34.00 to $25.00 in a research report on Monday, December 4th. Finally, Craig Hallum reiterated a “buy” rating on shares of Finisar in a research report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $26.13.
Shares of Finisar (FNSR) opened at $19.31 on Friday. 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 12 month low of $16.64 and a 12 month high of $29.41. The company has a market cap of $2,200.00, a price-to-earnings ratio of 15.70, a PEG ratio of 2.11 and a beta of 1.02.
In other Finisar news, SVP Mark Colyar sold 1,692 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $22.15, for a total transaction of $37,477.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kurt Adzema sold 20,025 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $22.15, for a total transaction of $443,553.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,578 shares of company stock worth $1,273,865. Corporate insiders own 1.02% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Finisar by 2.0% during the third quarter. Bank of New York Mellon Corp now owns 577,972 shares of the technology company’s stock worth $12,814,000 after buying an additional 11,110 shares during the last quarter. Capital Management Associates NY purchased a new stake in shares of Finisar in the third quarter valued at about $372,000. Nicholas Investment Partners LP raised its holdings in shares of Finisar by 50.0% in the third quarter. Nicholas Investment Partners LP now owns 283,097 shares of the technology company’s stock valued at $6,276,000 after purchasing an additional 94,422 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Finisar by 27.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 104,079 shares of the technology company’s stock valued at $2,307,000 after purchasing an additional 22,725 shares during the last quarter. Finally, American International Group Inc. raised its holdings in shares of Finisar by 8.1% in the third quarter. American International Group Inc. now owns 74,816 shares of the technology company’s stock valued at $1,659,000 after purchasing an additional 5,594 shares during the last quarter. Hedge funds and other institutional investors own 92.46% of the company’s stock.
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Finisar 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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