Finisar (FNSR) Downgraded by ValuEngine

ValuEngine lowered shares of Finisar (NASDAQ:FNSR) from a buy rating to a hold rating in a research note released on Wednesday morning.

FNSR has been the topic of several other research reports. Piper Jaffray Companies reaffirmed a buy rating and set a $22.00 price target on shares of Finisar in a report on Friday, December 8th. Zacks Investment Research downgraded shares of Finisar from a hold rating to a sell rating in a report on Wednesday, December 13th. Needham & Company LLC reaffirmed a strong-buy rating and set a $34.00 price target (down previously from $44.00) on shares of Finisar in a report on Friday, September 8th. Craig Hallum reaffirmed a buy rating on shares of Finisar in a report on Tuesday, January 2nd. Finally, William Blair reaffirmed an ourperform rating on shares of Finisar in a report on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $28.35.

Shares of Finisar (NASDAQ FNSR) traded down $0.03 during trading hours on Wednesday, reaching $21.51. 2,955,300 shares of the company’s stock traded hands, compared to its average volume of 5,930,000. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. Finisar has a twelve month low of $17.20 and a twelve month high of $36.41. The stock has a market capitalization of $2,450.00, a P/E ratio of 12.29, a P/E/G ratio of 2.12 and a beta of 1.15.

Finisar (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The business had revenue of $332.21 million for the quarter, compared to the consensus estimate of $331.69 million. research analysts expect that Finisar will post 0.73 EPS for the current year.

In related news, Chairman Jerry S. Rawls sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total value of $457,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kurt Adzema sold 20,025 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $22.15, for a total transaction of $443,553.75. The disclosure for this sale can be found here. Insiders sold 52,369 shares of company stock worth $1,189,715 in the last 90 days. 1.02% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. increased its position in Finisar by 103.4% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock worth $127,000 after purchasing an additional 2,912 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Finisar by 43.9% in the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock worth $153,000 after purchasing an additional 1,805 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in Finisar by 598.3% in the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock worth $155,000 after purchasing an additional 6,001 shares during the last quarter. Westside Investment Management Inc. increased its position in Finisar by 33.3% in the second quarter. Westside Investment Management Inc. now owns 8,000 shares of the technology company’s stock worth $218,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Thompson Davis & CO. Inc. bought a new stake in Finisar in the second quarter worth $217,000. Institutional investors own 91.21% of the company’s stock.

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About Finisar

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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