Finisar (NASDAQ:FNSR) has earned a consensus rating of “Hold” from the twenty ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $23.58.
A number of brokerages have recently commented on FNSR. Goldman Sachs cut Finisar from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $22.74 to $16.00 in a research report on Monday, January 15th. ValuEngine cut Finisar from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Barclays set a $25.00 price target on Finisar and gave the stock a “hold” rating in a research report on Thursday, January 11th. BidaskClub cut Finisar from a “sell” rating to a “strong sell” rating in a research report on Friday, December 29th. Finally, Northland Securities set a $33.00 price target on Finisar and gave the stock a “buy” rating in a research report on Friday, December 29th.
Shares of FNSR traded up $0.19 during mid-day trading on Thursday, reaching $15.78. The company had a trading volume of 1,223,404 shares, compared to its average volume of 4,315,837. The company has a quick ratio of 3.24, a current ratio of 4.06 and a debt-to-equity ratio of 0.29. Finisar has a 52 week low of $14.25 and a 52 week high of $28.99. The stock has a market cap of $1,768.59, a P/E ratio of 9.13, a P/E/G ratio of 2.34 and a beta of 1.17.
In related news, Director Roger C. Ferguson sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $17.30, for a total value of $51,900.00. Following the transaction, the director now directly owns 28,784 shares of the company’s stock, valued at approximately $497,963.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jerry S. Rawls sold 30,209 shares of the company’s stock in a transaction that occurred 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 a total of 71,209 shares of company stock worth $1,162,329 over the last ninety days. 1.02% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penbrook Management LLC bought a new position in shares of Finisar during the 4th quarter valued at $517,000. Xact Kapitalforvaltning AB bought a new position in shares of Finisar during the 4th quarter valued at $263,000. Phocas Financial Corp. bought a new position in shares of Finisar during the 4th quarter valued at $5,785,000. MetLife Investment Advisors LLC bought a new position in shares of Finisar during the 4th quarter valued at $1,077,000. Finally, Glenmede Trust Co. NA lifted its holdings in shares of Finisar by 3,941.8% during the 4th quarter. Glenmede Trust Co. NA now owns 825,578 shares of the technology company’s stock valued at $16,799,000 after buying an additional 805,152 shares during the period. 95.68% of the stock is currently owned by hedge funds and other institutional investors.
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Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical, or optoelectronic interface for interconnecting the electronic equipment used in networks comprising switches, routers, and servers used in wireline networks, as well as antennas and base stations used in wireless networks.
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