DA Davidson Reiterates Buy Rating for Finisar Corporation (FNSR)

DA Davidson reissued their buy rating on shares of Finisar Corporation (NASDAQ:FNSR) in a report released on Thursday. The brokerage currently has a $40.00 price target on the technology company’s stock.

A number of other brokerages have also recently weighed in on FNSR. B. Riley reissued a buy rating and set a $38.00 price objective on shares of Finisar Corporation in a report on Sunday, June 18th. Northland Securities reaffirmed a buy rating and issued a $40.00 price target on shares of Finisar Corporation in a research note on Friday, July 28th. Stifel Nicolaus reaffirmed a buy rating and issued a $33.00 price target on shares of Finisar Corporation in a research note on Saturday, July 22nd. Zacks Investment Research cut Finisar Corporation from a hold rating to a sell rating in a research note on Wednesday, June 21st. Finally, BidaskClub cut Finisar Corporation from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $34.08.

Finisar Corporation (FNSR) opened at 20.95 on Thursday. Finisar Corporation has a 1-year low of $20.16 and a 1-year high of $36.85. The firm has a market cap of $2.34 billion, a P/E ratio of 9.57 and a beta of 1.33. The stock has a 50 day moving average price of $24.81 and a 200 day moving average price of $26.22.

Finisar Corporation (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. The company had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $341.22 million. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. Finisar Corporation’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the firm posted $0.38 EPS. On average, analysts anticipate that Finisar Corporation will post $1.65 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This article was first posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this article on another domain, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this article can be read at https://www.themarketsdaily.com/2017/09/11/da-davidson-reiterates-buy-rating-for-finisar-corporation-fnsr.html.

In other news, Chairman Jerry S. Rawls sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $25.93, for a total transaction of $648,250.00. Following the transaction, the chairman now directly owns 815,188 shares of the company’s stock, valued at $21,137,824.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Stephens sold 3,015 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $27.65, for a total value of $83,364.75. Following the transaction, the director now directly owns 31,909 shares in the company, valued at $882,283.85. The disclosure for this sale can be found here. Insiders have sold 101,961 shares of company stock worth $2,742,336 over the last three months. Insiders own 1.02% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in shares of Finisar Corporation by 3.6% during the first quarter. State Street Corp now owns 2,077,716 shares of the technology company’s stock valued at $56,802,000 after buying an additional 71,736 shares during the period. VIEX Capital Advisors LLC bought a new stake in shares of Finisar Corporation during the first quarter valued at approximately $2,460,000. Taylor Asset Management Inc. boosted its position in shares of Finisar Corporation by 13.2% during the second quarter. Taylor Asset Management Inc. now owns 1,044,300 shares of the technology company’s stock valued at $27,131,000 after purchasing an additional 121,800 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of Finisar Corporation during the first quarter valued at approximately $314,000. Finally, Peregrine Capital Management LLC boosted its position in shares of Finisar Corporation by 72.0% during the second quarter. Peregrine Capital Management LLC now owns 453,205 shares of the technology company’s stock valued at $11,774,000 after purchasing an additional 189,780 shares in the last quarter. 86.38% of the stock is currently owned by hedge funds and other institutional investors.

About Finisar Corporation

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 Corporation (NASDAQ:FNSR)

Receive News & Ratings for Finisar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply