Finisar Co. (NASDAQ:FNSR) Receives Consensus Rating of “Hold” from Analysts

Finisar Co. (NASDAQ:FNSR) has earned a consensus rating of “Hold” from the seven analysts that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $23.50.

A number of analysts have recently commented on FNSR shares. Zacks Investment Research upgraded Finisar from a “sell” rating to a “hold” rating and set a $26.00 target price on the stock in a research note on Monday, September 23rd. MKM Partners reduced their price target on Finisar from $23.00 to $22.00 and set a “neutral” rating for the company in a research report on Thursday, September 5th. Finally, BidaskClub cut Finisar from a “buy” rating to a “hold” rating in a research report on Wednesday, August 28th.

NASDAQ FNSR opened at $23.77 on Tuesday. The stock has a 50-day simple moving average of $22.77 and a two-hundred day simple moving average of $22.80. The firm has a market capitalization of $2.86 billion, a P/E ratio of 40.29, a PEG ratio of 4.19 and a beta of 1.52. Finisar has a fifty-two week low of $15.81 and a fifty-two week high of $25.14. The company has a debt-to-equity ratio of 0.32, a quick ratio of 5.38 and a current ratio of 6.84.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantamental Technologies LLC purchased a new stake in shares of Finisar in the second quarter valued at approximately $227,000. Jane Street Group LLC purchased a new stake in Finisar in the 2nd quarter worth $258,000. Bank of Montreal Can increased its holdings in Finisar by 519.6% in the 2nd quarter. Bank of Montreal Can now owns 11,637 shares of the technology company’s stock worth $266,000 after acquiring an additional 9,759 shares in the last quarter. Royal Bank of Canada raised its position in Finisar by 6.0% during the second quarter. Royal Bank of Canada now owns 14,728 shares of the technology company’s stock worth $336,000 after acquiring an additional 831 shares during the period. Finally, Verity Asset Management Inc. raised its position in Finisar by 6.2% during the second quarter. Verity Asset Management Inc. now owns 30,516 shares of the technology company’s stock worth $698,000 after acquiring an additional 1,785 shares during the period. 99.65% of the stock is currently owned by hedge funds and other institutional investors.

About Finisar

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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