November 28, 2016 - By Hazel Jackson
In a a note shared with investors on 28 November, Needham stated it was upgrading Finisar (NASDAQ:FNSR) stock from a Buy to a Strong Buy. The firm has $42 target price per share on FNSR’s stock.
Out of 13 analysts covering Finisar Corporation (NASDAQ:FNSR), 9 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 69% are positive. $38 is the highest target while $13.25 is the lowest. The $23.45 average target is -28.42% below today’s ($32.76) stock price. Finisar Corporation has been the topic of 31 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The stock of Finisar Corporation (NASDAQ:FNSR) earned “Buy” rating by Needham on Monday, October 31. The company was initiated on Tuesday, August 18 by Northland Capital. The stock has “Buy” rating given by Goldman Sachs on Tuesday, October 11. The firm has “Buy” rating by Needham given on Monday, September 19. The stock has “Buy” rating given by Needham on Friday, September 11. The stock of Finisar Corporation (NASDAQ:FNSR) has “Buy” rating given on Tuesday, September 6 by Stifel Nicolaus. On Friday, September 11 the stock rating was downgraded by B. Riley & Co to “Neutral”. As per Friday, September 9, the company rating was upgraded by William Blair. The stock has “Buy” rating given by Craig Hallum on Friday, March 11. The firm has “Neutral” rating by M Partners given on Friday, June 17.
The stock decreased 0.43% or $0.14 on November 25, hitting $32.76. Finisar Corporation (NASDAQ:FNSR) has risen 89.47% since April 25, 2016 and is uptrending. It has outperformed by 83.46% the S&P500.
Analysts await Finisar Corporation (NASDAQ:FNSR) to report earnings on December, 8 after the close. They expect $0.38 EPS, up 123.53% or $0.21 from last year’s $0.17 per share. FNSR’s profit will be $41.76 million for 21.55 P/E if the $0.38 EPS becomes a reality. After $0.27 actual EPS reported by Finisar Corporation for the previous quarter, Wall Street now forecasts 40.74% EPS growth.
Insitutional Activity: The institutional sentiment increased to 1.7 in 2016 Q2. Its up 0.16, from 1.54 in 2016Q1. The ratio increased, as 22 funds sold all Finisar Corporation shares owned while 46 reduced positions. 32 funds bought stakes while 73 increased positions. They now own 99.67 million shares or 1.76% more from 97.95 million shares in 2016Q1.
Ny State Common Retirement Fund, a New York-based fund reported 110,100 shares. Jefferies Limited Liability Company holds 0% of its portfolio in Finisar Corporation (NASDAQ:FNSR) for 13,100 shares. Geode Lc holds 0.01% or 788,420 shares in its portfolio. Barclays Plc reported 25,104 shares or 0% of all its holdings. Bridgeway Cap Mngmt last reported 148,700 shares in the company. Cwm Lc holds 0% of its portfolio in Finisar Corporation (NASDAQ:FNSR) for 125 shares. The Ohio-based Meeder Asset Management has invested 0% in Finisar Corporation (NASDAQ:FNSR). Moreover, Royal Bank & Trust Of Canada has 0% invested in Finisar Corporation (NASDAQ:FNSR) for 57,471 shares. Goldman Sachs Grp has 0% invested in the company for 429,646 shares. The New York-based Brown Brothers Harriman & Co has invested 0% in Finisar Corporation (NASDAQ:FNSR). D E Shaw And has 848,585 shares for 0.03% of their US portfolio. Metropolitan Life Insur Ny has invested 0.01% of its portfolio in Finisar Corporation (NASDAQ:FNSR). Northern Tru last reported 0.02% of its portfolio in the stock. Raymond James & Assoc has 0% invested in the company for 18,796 shares. Bank & Trust Of Montreal Can accumulated 0% or 141,518 shares.
Insider Transactions: Since July 21, 2016, the stock had 0 insider purchases, and 25 insider sales for $8.84 million net activity. The insider FERGUSON ROGER C sold $82,880. On Wednesday, September 14 the insider Young Joseph A sold $2.87 million. 39,225 shares were sold by Colyar Mark, worth $813,919. Another trade for 14,584 shares valued at $278,554 was made by Brown Christopher on Thursday, July 21. Another trade for 6,183 shares valued at $191,641 was made by Swanson Todd on Tuesday, November 15. On Wednesday, September 28 CLARK JOHN H sold $334,826 worth of the stock or 11,265 shares. Eng Julie Sheridan had sold 3,240 shares worth $97,322.
Finisar Corporation is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The company has a market cap of $3.60 billion. 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. It has a 64.42 P/E ratio.
According to Zacks Investment Research, “FINISAR CORP. is a provider of fiber optic subsystems and network test and monitoring systems which enable high-speed data communications over local area networks, or LANs, storage area networks, or SANs, and metropolitan access networks, or MANs. They are focused on the application of digital fiber optics to provide aline of high-performance, reliable, value-added optical subsystems for data networking and storage equipment manufacturers.”
Finisar Corporation (Finisar), incorporated on October 1, 1999, is a well-known 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, as well as the antennas and base stations used in wireless networks. These products rely on the use of semiconductor lasers and photodetectors in conjunction with integrated circuits and optoelectronic packaging to provide a means for transmitting and receiving digital signals over fiber optic cable at speeds ranging from less than one gigabit per second (Gbps), to more than 100 Gbps, over distances of less than 10 meters to more than 2,000 kilometers, using a range of network protocols and physical configurations.
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