ValuEngine cut shares of Finisar Corporation from a "strong-buy" rating to a "buy" rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Finisar from a "sell" rating to a "hold" rating in a research report on Thursday, February 16th. Stifel Nicolaus reduced their target price on shares of Finisar from $42.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, March 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. Jefferies Group LLC's target price points to a potential upside of 27.06% from the stock's current price.
Finisar Corp. (FNSR) belongs to the "Technology" sector with an industry focus on "Networking & Communication Devices", with Mr. If you are reading this report on another domain, it was illegally stolen and republished in violation of worldwide copyright & trademark laws. The legal version of this piece can be accessed at https://sportsperspectives.com/2017/06/11/analysts-offer-predictions-for-finisar-co-s-fy2017-earnings-fnsr.html.
Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Finisar Corporation (NASDAQ:FNSR) by 294.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. Finisar Corporation has a 2.84B market cap and its past year revenues were 1.41B.
Stock is now moving with a negative distance from the 200 day simple moving average of approximately -12.07%, and has a poor year to date (YTD) performance of -17.28% which means the stock is constantly subtracting to its value from the previous fiscal year end price. Finisar Co. has a 52 week low of $16.67 and a 52 week high of $36.85.
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Finisar Corporation (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, March 9th. The technology company reported $0.59 earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of $0.62 by $0.03. The firm had revenue of $380.60 million for the quarter, compared to analyst estimates of $389.69 million. The business's revenue was up 23.1% compared to the same quarter previous year. Analysts forecast that Finisar Corporation will post $2.05 earnings per share for the current fiscal year.
In other Finisar Corporation news, EVP Todd Swanson sold 6,183 shares of the company's stock in a transaction on Monday, April 17th. The stock was sold at an average price of $24.13, for a total value of $149,195.79. Following the transaction, the executive vice president now directly owns 229,219 shares in the company, valued at $5,531,054.47. Also, Chairman Jerry S. Rawls sold 30,000 shares of the stock in a transaction on Tuesday, March 21st. The stock was sold at an average price of $27.00, for a total transaction of $81,432.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 51,147 shares of company stock worth $1,376,889. Following the completion of the transaction, the director now owns 40,954 shares in the company, valued at $1,105,758.
Several other large investors have also recently modified their holdings of FNSR. They presently have a $34.00 price objective on the technology company's stock. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Finisar during the first quarter worth about $48,378,000. Renaissance Technologies LLC boosted its position in shares of Finisar Corporation by 3.0% in the first quarter. Virginia Retirement Systems ET AL now owns 91,300 shares of the technology company's stock worth $2,496,000 after buying an additional 55,000 shares during the last quarter. Norges Bank bought a new position in Finisar Corporation during the fourth quarter valued at $25,690,000. Finally, Columbus Circle Investors increased its stake in shares of Finisar by 3,516.8% in the first quarter.
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