Analysts predict that Finisar Corporation (NASDAQ:FNSR) will announce sales of $333.50 million for the current quarter, according to Zacks. Seven analysts have made estimates for Finisar Corporation’s earnings. The lowest sales estimate is $330.00 million and the highest is $337.70 million. Finisar Corporation posted sales of $369.86 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 9.8%. The firm is expected to issue its next quarterly earnings results on Thursday, December 14th.
According to Zacks, analysts expect that Finisar Corporation will report full-year sales of $333.50 million for the current financial year, with estimates ranging from $1.36 billion to $1.51 billion. For the next financial year, analysts anticipate that the company will post sales of $1.60 billion per share, with estimates ranging from $1.48 billion to $1.75 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Finisar Corporation.
Finisar Corporation (NASDAQ:FNSR) last issued its earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $341.22 million. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS.
A number of brokerages have recently commented on FNSR. B. Riley reiterated a “buy” rating and set a $38.00 price target on shares of Finisar Corporation in a report on Sunday, June 18th. Northland Securities reiterated a “buy” rating and set a $40.00 price target on shares of Finisar Corporation in a report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $33.00 price target on shares of Finisar Corporation in a report on Saturday, July 22nd. DA Davidson began coverage on shares of Finisar Corporation in a report on Thursday, June 29th. They set a “buy” rating and a $40.00 price target on the stock. Finally, BidaskClub lowered shares of Finisar Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $32.60.
Shares of Finisar Corporation (NASDAQ:FNSR) opened at 21.94 on Wednesday. The firm’s 50 day moving average is $22.53 and its 200 day moving average is $24.70. The company has a market cap of $2.50 billion, a PE ratio of 10.32 and a beta of 1.31. Finisar Corporation has a 12 month low of $20.16 and a 12 month high of $36.85.
In other Finisar Corporation news, Chairman Jerry S. Rawls sold 25,000 shares of Finisar Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $27.58, for a total value of $689,500.00. Following the completion of the sale, the chairman now directly owns 815,188 shares of the company’s stock, valued at $22,482,885.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Todd Swanson sold 6,183 shares of Finisar Corporation stock in a transaction on Monday, July 17th. The shares were sold at an average price of $27.36, for a total transaction of $169,166.88. Following the completion of the sale, the executive vice president now directly owns 221,924 shares of the company’s stock, valued at $6,071,840.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,127 shares of company stock valued at $1,150,641. Insiders own 1.02% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FNSR. First Trust Advisors LP increased its stake in Finisar Corporation by 333.0% in the first quarter. First Trust Advisors LP now owns 45,027 shares of the technology company’s stock valued at $1,231,000 after purchasing an additional 34,628 shares in the last quarter. US Bancorp DE increased its stake in Finisar Corporation by 31.0% in the first quarter. US Bancorp DE now owns 9,559 shares of the technology company’s stock valued at $262,000 after purchasing an additional 2,261 shares in the last quarter. Comerica Bank bought a new stake in Finisar Corporation in the first quarter valued at $1,094,000. UBS Asset Management Americas Inc. increased its stake in Finisar Corporation by 22.2% in the first quarter. UBS Asset Management Americas Inc. now owns 61,098 shares of the technology company’s stock valued at $1,670,000 after purchasing an additional 11,120 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Finisar Corporation by 71.3% in the first quarter. Parametric Portfolio Associates LLC now owns 265,544 shares of the technology company’s stock valued at $7,260,000 after purchasing an additional 110,546 shares in the last quarter. 86.32% of the stock is owned by hedge funds and other institutional investors.
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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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