DA Davidson restated their buy rating on shares of Finisar (NASDAQ:FNSR) in a research report released on Friday, Marketbeat.com reports. The brokerage currently has a $22.00 target price on the technology company’s stock, down from their previous target price of $24.00.
Other research analysts have also issued research reports about the company. Piper Jaffray Companies upped their price objective on Finisar from $22.00 to $28.00 in a report on Wednesday, December 13th. Northland Securities set a $29.00 price objective on Finisar and gave the stock a buy rating in a report on Friday, December 8th. William Blair reissued a buy rating on shares of Finisar in a report on Friday, December 8th. Raymond James Financial set a $22.00 target price on Finisar and gave the company a buy rating in a report on Thursday, December 7th. Finally, Stifel Nicolaus lowered their target price on Finisar from $27.00 to $23.00 and set a buy rating on the stock in a report on Wednesday, December 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $26.13.
Finisar (NASDAQ FNSR) opened at $20.32 on Friday. Finisar has a twelve month low of $16.64 and a twelve month high of $29.07. The firm has a market capitalization of $2,320.00, a price-to-earnings ratio of 16.52, a P/E/G ratio of 2.11 and a beta of 1.02. The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29.
In other news, EVP Julie Sheridan Eng sold 1,466 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $21.70, for a total value of $31,812.20. Following the sale, the executive vice president now directly owns 69,150 shares in the company, valued at $1,500,555. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerry S. Rawls sold 30,209 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total value of $541,949.46. The disclosure for this sale can be found here. Insiders sold 62,578 shares of company stock worth $1,273,865 over the last 90 days. Company insiders own 1.02% of the company’s stock.
Large investors have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of 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. Cubist Systematic Strategies LLC lifted its position in shares of 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 acquiring an additional 6,001 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in shares of Finisar in the fourth quarter valued at $158,000. Janney Montgomery Scott LLC purchased a new stake in shares of Finisar in the third quarter valued at $217,000. Finally, Strategic Financial Services Inc purchased a new stake in shares of Finisar in the third quarter valued at $222,000. Institutional investors and hedge funds own 94.03% of the company’s stock.
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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