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Finisar Co. (FNSR) EVP Sells 6183 Shares of Stock
20 May 2017, 02:51 | Austin Hogan
They presently have a $34.00 target price on the technology company's stock.
Sell-side analysts also have something to say about this company. Stifel Nicolaus cut their target price on shares of Finisar from $42.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, March 10th. Zacks Investment Research upgraded Finisar from a "sell" rating to a "hold" rating in a report on Thursday, February 16th. Finally, MKM Partners reiterated a "buy" rating and issued a $32.00 price target (down from $41.00) on shares of Finisar in a research note on Friday, April 21st. Rating Scale; where 1.0 rating means Strong Buy, 2.0 rating signify Buy, 3.0 recommendation reveals Hold, 4.0 rating score shows Sell and 5.0 displays Strong Sell signal. The company has a consensus rating of "Buy" and an average target price of $37.67.
The share price of Finisar Corporation (NASDAQ:FNSR) was up +1.98% during the last trading session, with a day high of 25.30. The stock's 50-day moving average price is $23.99 and its 200 day moving average price is $29.19. The company has a market capitalization of $2.54 billion, a P/E ratio of 19.40 and a beta of 1.30. Finisar Corporation has a 52-week low of 15.21 and a 52-week high of 36.85.
Finisar (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, March 9th. The company is expected to report EPS as high as $0.65 and as low as $0.52 per share. The company had revenue of $380.60 million during the quarter, compared to analyst estimates of $389.69 million. Over the short term, some market observers may have noticed that Finisar Corporation has a 10.48% short float with 15 days to cover. The business's revenue for the quarter was up 23.1% compared to the same quarter previous year. Nonetheless, from here on out, earnings per share forecasts for the current quarter are $0.59. Equities analysts anticipate that Finisar will post $2.05 earnings per share for the current fiscal year.
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With these kinds of figures it is worthy to note that Finisar Corporation (FNSR) has been put into a buy territory, but there are few other spots to consider. If you are viewing this piece on another site, it was illegally copied and republished in violation of United States and global copyright & trademark law. The correct version of this news story can be viewed at https://transcriptdaily.com/2017/05/18/ubs-asset-management-americas-inc-lowers-position-in-finisar-co-fnsr-updated.html.
Institutional investors now hold around $3.03 billion or 95.7% in FNSR stock. The stock lost -4.80% in total of its share price. Following the completion of the sale, the executive vice president now directly owns 229,219 shares in the company, valued at approximately $5,531,054.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Todd Swanson sold 6,183 shares of the stock in a transaction on Monday, April 17th. They now have a Dollars 27 price target on the stock. Over the last five trading sessions, the stock has moved -5.53%.
Several hedge funds and other institutional investors have recently modified their holdings of FNSR. Wellington Management Group LLP boosted its position in Finisar by 302.4% in the first quarter. Breaking that down further, it has performed -5.41% for the week, -5.83% for the month, 17.98% over the last quarter, 65.35% for the past half-year and 12.90% for this a year ago. BlackRock Advisors LLC boosted its position in shares of Finisar by 11.8% in the third quarter. Driehaus Capital Management LLC increased its position in shares of Finisar by 349.2% in the first quarter. The company had a trading volume of 1,985,357 shares. Finally, Tudor Investment Corp ET AL increased its stake in Finisar by 170.6% in the first quarter. Columbus Circle Investors now owns 992,815 shares of the technology company's stock worth $27,144,000 after buying an additional 965,365 shares during the last quarter.
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