Finisar Co. (NASDAQ:FNSR) Receives $23.50 Consensus Price Target from Brokerages

Shares of Finisar Co. (NASDAQ:FNSR) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $23.50.

Several equities analysts have commented on FNSR shares. MKM Partners dropped their target price on shares of Finisar from $23.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Zacks Investment Research raised shares of Finisar from a “sell” rating to a “hold” rating and set a $26.00 target price on the stock in a research report on Monday, September 23rd. Finally, BidaskClub cut shares of Finisar from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th.

Shares of Finisar stock remained flat at $$23.77 during mid-day trading on Tuesday. Finisar has a 12 month low of $15.81 and a 12 month high of $25.14. The firm has a fifty day moving average of $22.82 and a 200-day moving average of $22.83. The company has a debt-to-equity ratio of 0.32, a current ratio of 6.84 and a quick ratio of 5.38. The company has a market capitalization of $2.86 billion, a P/E ratio of 40.29, a price-to-earnings-growth ratio of 4.19 and a beta of 1.52.

Institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan grew its holdings in shares of Finisar by 1.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 35,270 shares of the technology company’s stock worth $807,000 after purchasing an additional 610 shares in the last quarter. Candriam Luxembourg S.C.A. bought a new stake in Finisar during the second quarter valued at approximately $2,733,000. Verity Asset Management Inc. lifted its position in Finisar by 11.7% during the second quarter. Verity Asset Management Inc. now owns 32,097 shares of the technology company’s stock valued at $578,000 after purchasing an additional 3,366 shares during the last quarter. One68 Global Capital LLC bought a new stake in Finisar during the second quarter valued at approximately $1,826,000. Finally, Paradigm Capital Management Inc. NY grew its stake in Finisar by 0.7% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 474,200 shares of the technology company’s stock worth $10,844,000 after buying an additional 3,200 shares in the last quarter. 99.65% of the stock is currently owned by hedge funds and other institutional investors.

Finisar Company Profile

Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies 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 wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.

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