Analysis: Finisar Corporation (NASDAQ:FNSR) Stock Target Upgraded Today
In a very recent research note released by B. Riley on 11 December, the firm, Finisar Corporation (NASDAQ:FNSR), had their target PPS downgraded to $13.50. Analusts currently have a solid “Neutral” rating on the stock.
From a total of 10 analysts covering Finisar Corporation (NASDAQ:FNSR) stock, 4 rate it a ”Buy”, 0 a “Sell”, and 9 a ”Hold”. This means that 31% of the ratings are positive. The highest target price is $18 while the lowest target price is $13.25. The mean of all analyst targets is $15.78 with a 14.31% above today’s ($14.33) stock price. Finisar Corporation was the topic of 13 analyst reports since August 18, 2015 according to the firm StockzIntelligence Inc. Needham maintained shares on September 11 with “Buy” rating. RBC Capital Markets downgraded FNSR stock in a recent report from September 9 to “Sector Perform” rating.
Approximately 9.48M shares of stock traded hands or 848.00% up from the average. Finisar Corporation (NASDAQ:FNSR) has declined 45.35% since May 8, 2015 and is downtrending. It has underperformed by 42.33% the S&P500.
The overall sentiment of institutions has decreased to 0.82 in Q2 2015. Its down 0.29, from 1.11 in 2015Q2. The ratio worsened, as 29 institutions have sold all the shares of Finisar Corporation that they owned while 55 funds have taken shares off the table. 21 funds have purchased shares for the first time while 48 added to their positions. These institutions now hold 106.71 million shares or 5.53% more than the 101.12 million shares they owned in 2015Q2.
The Fund Kopp Investment Advisors Llc currently is holding shares equating to 5.45% of its total portfolio in Finisar Corporation representing a total of 910,404 shares. Another fund,Paradigm Capital Management Inc Ny, is holding a total of 953,200 shares equating to 1.29% of their holdings. Additionally, Fairpointe Capital Llc has a 5.34 million share stake in Finisar Corporation which represents 1.01% of their total portfolio. The Fund, Segantii Capital Management Ltd, based out of Hong Kong, has also built up a stake in the stock, which represents a total of 0.62% of their total portfolio. Finally Granahan Investment Management Inc Ma, a fund which is based in the state of Massachusetts reported a total holdings of 1.39 million shares.
Insider activity is a very important aspect to track on any stock. Going back to March 18, 2015, shareholders of Finisar Corporation have witnessed 0 buys, and a total of 7 insider sales equating to a net activity of approximately $376,326 . Ferguson Roger C sold 2,750 shares worth approximately $32,863. Brown Christopher sold 5,300 shares worth approximately $99,551. Young Joseph A sold 4,000 shares worth approximately $78,896. Rawls Jerry S sold 62,499 shares worth approximately $1.34M.
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 $1.25 billion. 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. It has 1433.05 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.” Get a free copy of the Zacks research report on Finisar Corporation (FNSR).