Finisar Corporation (NASDAQ:FNSR) Director Robert Stephens sold 6,030 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $27.00, for a total value of $162,810.00. Following the sale, the director now owns 34,924 shares of the company’s stock, valued at $942,948. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Robert Stephens also recently made the following trade(s):
- On Thursday, March 16th, Robert Stephens sold 3,016 shares of Finisar Corporation stock. The shares were sold at an average price of $27.00, for a total value of $81,432.00.
Shares of Finisar Corporation (NASDAQ:FNSR) traded up 8.39% during trading on Friday, hitting $27.79. The stock had a trading volume of 16,094,543 shares. Finisar Corporation has a 52 week low of $16.73 and a 52 week high of $36.85. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of 23.65 and a beta of 1.31. The stock’s 50 day moving average is $24.76 and its 200 day moving average is $28.48. Finisar Corporation also was the target of unusually large options trading activity on Friday. Traders purchased 7,020 call options on the stock. This represents an increase of approximately 1,200% compared to the average volume of 540 call options.
Finisar Corporation (NASDAQ:FNSR) last issued its earnings results on Thursday, June 15th. The technology company reported $0.50 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.50. Finisar Corporation had a net margin of 9.37% and a return on equity of 12.71%. The firm had revenue of $357.50 million for the quarter, compared to analyst estimates of $359.65 million. During the same quarter last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 12.1% on a year-over-year basis. On average, equities research analysts expect that Finisar Corporation will post $2.27 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Columbia Partners L L C Investment Management bought a new stake in shares of Finisar Corporation during the first quarter worth $2,562,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Finisar Corporation during the first quarter worth $1,248,000. Driehaus Capital Management LLC raised its stake in shares of Finisar Corporation by 349.2% in the first quarter. Driehaus Capital Management LLC now owns 148,066 shares of the technology company’s stock worth $4,048,000 after buying an additional 115,101 shares in the last quarter. Horizon Investment Services LLC bought a new stake in shares of Finisar Corporation during the first quarter worth $1,994,000. Finally, Harbour Capital Advisors LLC bought a new stake in shares of Finisar Corporation during the first quarter worth $379,000.
A number of equities research analysts have recently issued reports on FNSR shares. B. Riley reaffirmed a “buy” rating and set a $47.25 target price on shares of Finisar Corporation in a report on Monday, March 6th. Zacks Investment Research raised Finisar Corporation from a “sell” rating to a “hold” rating in a report on Friday, March 24th. William Blair reaffirmed an “outperform” rating on shares of Finisar Corporation in a report on Tuesday, March 14th. Raymond James Financial, Inc. raised Finisar Corporation from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a report on Monday, March 13th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $34.00 price target on shares of Finisar Corporation in a report on Friday, May 5th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.06.
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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