Finisar Co. (NASDAQ:FNSR)’s share price gapped down prior to trading on Tuesday after Craig Hallum downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $20.83, but opened at $20.93. Craig Hallum now has a $24.00 price target on the stock. Finisar shares last traded at $21.77, with a volume of 246172 shares changing hands.

Several other equities analysts have also recently issued reports on the company. Needham & Company LLC decreased their price target on Finisar to $48.00 and set a “buy” rating on the stock in a report on Monday. Goldman Sachs Group upgraded Finisar from a “sell” rating to a “neutral” rating and set a $21.79 price target on the stock in a report on Friday, November 9th. Piper Jaffray Companies cut Finisar from an “overweight” rating to a “neutral” rating in a report on Friday, November 9th. DA Davidson cut Finisar from a “buy” rating to a “hold” rating and set a $26.00 price target on the stock. in a report on Friday, November 9th. Finally, ValuEngine upgraded Finisar from a “hold” rating to a “buy” rating in a report on Wednesday, November 7th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $24.99.

In other Finisar news, Director Jerry S. Rawls sold 40,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $18.80, for a total transaction of $752,000.00. Following the transaction, the director now owns 456,171 shares in the company, valued at $8,576,014.80. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jerry S. Rawls sold 30,208 shares of the firm’s stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $16.77, for a total value of $506,588.16. Following the transaction, the director now owns 486,379 shares in the company, valued at approximately $8,156,575.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,208 shares of company stock worth $2,083,508. Company insiders own 1.11% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of Finisar by 10.6% during the third quarter. Dimensional Fund Advisors LP now owns 9,861,744 shares of the technology company’s stock worth $187,865,000 after purchasing an additional 946,191 shares during the period. Alliancebernstein L.P. raised its position in shares of Finisar by 111.2% during the third quarter. Alliancebernstein L.P. now owns 8,278,822 shares of the technology company’s stock worth $157,712,000 after purchasing an additional 4,359,557 shares during the period. Bank of New York Mellon Corp raised its position in shares of Finisar by 1.2% during the third quarter. Bank of New York Mellon Corp now owns 4,995,786 shares of the technology company’s stock worth $95,171,000 after purchasing an additional 59,656 shares during the period. FMR LLC raised its position in shares of Finisar by 20.9% during the third quarter. FMR LLC now owns 3,612,002 shares of the technology company’s stock worth $68,809,000 after purchasing an additional 624,702 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Finisar by 35.5% during the third quarter. Franklin Resources Inc. now owns 3,525,548 shares of the technology company’s stock worth $67,162,000 after purchasing an additional 922,800 shares during the period.

The stock has a market capitalization of $2.55 billion, a P/E ratio of 68.50, a PEG ratio of 3.77 and a beta of 1.42. The company has a quick ratio of 2.98, a current ratio of 3.65 and a debt-to-equity ratio of 0.31.

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

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Finisar Company Profile (NASDAQ:FNSR)

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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