Finisar Corporation (FNSR) Earns Buy Rating from Piper Jaffray Companies

Finisar Corporation (NASDAQ:FNSR)‘s stock had its “buy” rating reaffirmed by Piper Jaffray Companies in a research report issued to clients and investors on Sunday. They currently have a $26.00 target price on the technology company’s stock. Piper Jaffray Companies’ target price points to a potential upside of 18.88% from the company’s previous close.

A number of other brokerages also recently commented on FNSR. William Blair reiterated an “outperform” rating on shares of Finisar Corporation in a report on Thursday. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $32.00 price target (down from $37.00) on shares of Finisar Corporation in a report on Friday, September 8th. MKM Partners reiterated a “buy” rating and set a $31.00 price target (down from $33.00) on shares of Finisar Corporation in a report on Monday, September 11th. 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. Finally, DA Davidson reiterated a “buy” rating and set a $40.00 price target on shares of Finisar Corporation in a report on Thursday, September 7th. Two 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 stock. Finisar Corporation currently has a consensus rating of “Buy” and a consensus target price of $32.60.

Shares of Finisar Corporation (NASDAQ FNSR) traded up 2.56% on Friday, reaching $22.43. 1,804,238 shares of the company traded hands. Finisar Corporation has a 1-year low of $20.16 and a 1-year high of $36.85. The company has a 50-day moving average of $23.93 and a 200-day moving average of $25.77. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 10.55 and a beta of 1.33.

Finisar Corporation (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $341.80 million during the quarter, compared to the consensus estimate of $341.22 million. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 earnings per share. Analysts anticipate that Finisar Corporation will post $1.49 earnings per share for the current fiscal year.

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In other Finisar Corporation news, EVP Julie Sheridan Eng sold 5,576 shares of Finisar Corporation stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $27.27, for a total transaction of $152,057.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Mark Colyar sold 2,244 shares of Finisar Corporation stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $27.31, for a total transaction of $61,283.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,014 shares of company stock worth $2,467,091. 1.02% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Fortaleza Asset Management Inc. acquired a new position in Finisar Corporation during the second quarter valued at approximately $138,000. Westside Investment Management Inc. acquired a new position in Finisar Corporation during the first quarter valued at approximately $150,000. PNC Financial Services Group Inc. lifted its position in Finisar Corporation by 43.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after buying an additional 1,805 shares in the last quarter. Koch Industries Inc. acquired a new position in Finisar Corporation during the second quarter valued at approximately $201,000. Finally, Quantitative Systematic Strategies LLC acquired a new position in Finisar Corporation during the second quarter valued at approximately $202,000. 86.32% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Finisar Corporation (NASDAQ:FNSR)

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