Finisar Co. (NASDAQ:FNSR) EVP Julie Sheridan Eng sold 418 shares of the business’s stock in a transaction that occurred on Friday, March 17th. The shares were sold at an average price of $27.00, for a total value of $11,286.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Finisar Co. (NASDAQ:FNSR) traded down 0.40% during mid-day trading on Monday, hitting $27.25. The stock had a trading volume of 4,070,817 shares. Finisar Co. has a 1-year low of $15.21 and a 1-year high of $36.85. The stock has a 50 day moving average of $32.01 and a 200-day moving average of $30.21. The firm has a market cap of $3.04 billion, a P/E ratio of 23.19 and a beta of 1.30.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, March 9th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.62 by $0.03. The firm earned $380.60 million during the quarter, compared to analyst estimates of $389.69 million. Finisar had a net margin of 7.31% and a return on equity of 10.56%. The company’s revenue was up 23.1% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. Analysts predict that Finisar Co. will post $2.07 EPS for the current fiscal year.
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A number of research firms recently issued reports on FNSR. Needham & Company LLC restated a “strong-buy” rating on shares of Finisar in a research report on Friday, January 6th. B. Riley restated a “buy” rating and set a $38.00 price objective on shares of Finisar in a research report on Tuesday, December 6th. MKM Partners restated a “buy” rating on shares of Finisar in a research report on Thursday, December 22nd. Finally, Vetr lowered Finisar from a “buy” rating to a “hold” rating and set a $35.76 price objective for the company. in a research report on Monday, March 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. Finisar has an average rating of “Buy” and a consensus target price of $38.52.
Institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors boosted its position in Finisar by 76.9% in the third quarter. Nationwide Fund Advisors now owns 329,200 shares of the company’s stock valued at $9,810,000 after buying an additional 143,093 shares during the period. Fisher Asset Management LLC boosted its position in Finisar by 1.5% in the third quarter. Fisher Asset Management LLC now owns 4,182,661 shares of the company’s stock valued at $124,643,000 after buying an additional 60,102 shares during the period. BlackRock Investment Management LLC boosted its position in Finisar by 0.3% in the third quarter. BlackRock Investment Management LLC now owns 444,402 shares of the company’s stock valued at $13,243,000 after buying an additional 1,347 shares during the period. AO Asset Management LLC boosted its position in Finisar by 16.0% in the third quarter. AO Asset Management LLC now owns 1,305,800 shares of the company’s stock valued at $38,913,000 after buying an additional 179,800 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in Finisar by 2.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,776,697 shares of the company’s stock valued at $82,746,000 after buying an additional 69,506 shares during the period. 91.70% of the stock is owned by hedge funds and other institutional investors.
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.
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