Finisar Corp. (FNSR) – Analysts’ Recent Ratings Updates

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Finisar Corp. (NASDAQ: FNSR) recently received a number of ratings updates from brokerages and research firms:

9/12/2016 – Finisar Corp. had its price target raised by analysts at Stifel Nicolaus from $28.00 to $33.00. They now have a “buy” rating on the stock.
9/11/2016 – Finisar Corp. had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $32.25 price target on the stock.
9/9/2016 – Finisar Corp. was upgraded by analysts at William Blair from a “market perform” rating to an “outperform” rating. They wrote, “This improved product mix is setting the floor on margins, leaving us optimistic the company can overcome annual telecom price negations in the second half of the year or improve margins further as new growth products and volumes expand.”
9/9/2016 – Finisar Corp. was upgraded by analysts at MKM Partners from a “neutral” rating to a “buy” rating. They now have a $35.00 price target on the stock, up previously from $21.00.
9/9/2016 – Finisar Corp. had its price target raised by analysts at Barclays PLC from $20.00 to $27.00. They now have an “equal weight” rating on the stock.
9/9/2016 – Finisar Corp. had its price target raised by analysts at Goldman Sachs Group Inc. from $21.00 to $24.00. They now have a “neutral” rating on the stock.
9/9/2016 – Finisar Corp. had its price target raised by analysts at Jefferies Group from $19.00 to $28.00. They now have a “hold” rating on the stock.
9/6/2016 – Finisar Corp. had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $24.50 price target on the stock.
9/6/2016 – Finisar Corp. was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $28.00 price target on the stock.
9/6/2016 – Finisar Corp. had its price target raised by analysts at Needham & Company LLC from $24.00 to $28.00. They now have a “buy” rating on the stock.
9/6/2016 – Finisar Corp. had its “overweight” rating reaffirmed by analysts at Piper Jaffray Cos.. They now have a $24.00 price target on the stock.
8/17/2016 – Finisar Corp. was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “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. “
8/16/2016 – Finisar Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $24.00 price target on the stock. According to Zacks, “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. “
7/28/2016 – Finisar Corp. was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “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. “

Shares of Finisar Corp. (NASDAQ:FNSR) opened at 26.20 on Monday. Finisar Corp. has a 12-month low of $10.66 and a 12-month high of $27.50. The firm has a 50-day moving average price of $20.40 and a 200 day moving average price of $17.85. The stock has a market cap of $2.89 billion, a PE ratio of 51.27 and a beta of 1.39.
Finisar Corp. (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, September 8th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.08. Finisar Corp. had a return on equity of 7.61% and a net margin of 4.32%. The business had revenue of $341.30 million for the quarter, compared to the consensus estimate of $331.34 million. During the same period in the previous year, the business earned $0.23 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Equities research analysts expect that Finisar Corp. will post $1.28 earnings per share for the current year.

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In related news, EVP Christopher Brown sold 70,212 shares of the business’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $19.10, for a total value of $1,341,049.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Joseph A. Young sold 2,500 shares of the business’s stock in a transaction dated Monday, June 20th. The stock was sold at an average price of $18.98, for a total value of $47,450.00. The disclosure for this sale can be found here. 1.34% of the stock is owned by insiders.
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, optical engines and active optical cables that provide the fundamental optical-electrical, or optoelectronic, interface for interconnecting the electronic equipment used in communication networks, including the switches, routers and servers used in wireline networks, as well as the antennas and base stations used in wireless networks.

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