Finisar (NASDAQ:FNSR) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Several other analysts have also weighed in on FNSR. Zacks Investment Research lowered shares of Finisar from a “hold” rating to a “sell” rating in a research note on Wednesday, June 20th. Cascend Securities initiated coverage on shares of Finisar in a report on Friday, July 13th. They set a “buy” rating and a $25.00 price target for the company. BidaskClub downgraded shares of Finisar from a “hold” rating to a “sell” rating in a report on Thursday, July 19th. Raymond James downgraded shares of Finisar from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 22nd. Finally, Piper Jaffray Companies raised shares of Finisar from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $26.00 in a report on Thursday, August 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $23.93.

FNSR stock opened at $17.95 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 2.98. Finisar has a 1-year low of $14.25 and a 1-year high of $25.41. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of 56.09, a price-to-earnings-growth ratio of 2.84 and a beta of 1.36.

Finisar (NASDAQ:FNSR) last released its earnings results on Thursday, September 6th. The technology company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. Finisar had a negative net margin of 6.71% and a positive return on equity of 1.24%. The firm had revenue of $317.30 million during the quarter, compared to analyst estimates of $315.77 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was down 7.2% compared to the same quarter last year. Equities research analysts predict that Finisar will post 0.47 earnings per share for the current fiscal year.

In related news, Director Jerry S. Rawls sold 40,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $19.24, for a total value of $769,600.00. Following the completion of the sale, the director now owns 483,258 shares of the company’s stock, valued at $9,297,883.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry S. Rawls sold 30,208 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $16.99, for a total transaction of $513,233.92. Following the completion of the sale, the director now directly owns 553,466 shares of the company’s stock, valued at approximately $9,403,387.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,208 shares of company stock valued at $2,090,154. Corporate insiders own 1.11% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its holdings in Finisar by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,915,553 shares of the technology company’s stock worth $160,479,000 after purchasing an additional 1,328,867 shares during the period. DnB Asset Management AS raised its position in Finisar by 16.5% in the second quarter. DnB Asset Management AS now owns 6,826,104 shares of the technology company’s stock worth $122,870,000 after acquiring an additional 964,507 shares in the last quarter. Bank of New York Mellon Corp raised its position in Finisar by 102.3% in the second quarter. Bank of New York Mellon Corp now owns 4,936,130 shares of the technology company’s stock worth $88,850,000 after acquiring an additional 2,496,574 shares in the last quarter. FMR LLC raised its position in Finisar by 28.6% in the second quarter. FMR LLC now owns 2,987,300 shares of the technology company’s stock worth $53,771,000 after acquiring an additional 664,490 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in Finisar by 11.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 1,770,000 shares of the technology company’s stock worth $31,860,000 after acquiring an additional 175,000 shares in the last quarter.

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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Analyst Recommendations for Finisar (NASDAQ:FNSR)

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