Needham & Company LLC upgraded shares of Finisar Corp. (NASDAQ:FNSR) from a buy rating to a strong-buy rating in a research note released on Monday morning. They currently have $42.00 target price on the stock, up from their previous target price of $38.00.

Several other research firms have also recently weighed in on FNSR. Zacks Investment Research upgraded shares of Finisar Corp. from a hold rating to a strong-buy rating and set a $32.00 price objective on the stock in a research report on Wednesday, September 14th. Stifel Nicolaus upped their price objective on shares of Finisar Corp. from $28.00 to $33.00 and gave the stock a buy rating in a research report on Monday, September 12th. Piper Jaffray Cos. restated an overweight rating and issued a $38.00 price objective (up from $31.00) on shares of Finisar Corp. in a research report on Friday, October 7th. Goldman Sachs Group Inc. upgraded shares of Finisar Corp. from a neutral rating to a buy rating and upped their price objective for the stock from $24.00 to $39.00 in a research report on Tuesday, October 11th. Finally, Barclays PLC upped their price objective on shares of Finisar Corp. from $20.00 to $27.00 and gave the stock an equal weight rating in a research report on Friday, September 9th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $31.27.

Finisar Corp. (NASDAQ:FNSR) opened at 33.23 on Monday. The stock has a 50 day moving average of $30.02 and a 200-day moving average of $23.05. Finisar Corp. has a 12 month low of $11.26 and a 12 month high of $34.99. The firm has a market cap of $3.66 billion, a P/E ratio of 65.03 and a beta of 1.37.

Finisar Corp. (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, September 8th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.08. Finisar Corp. had a net margin of 4.32% and a return on equity of 7.61%. The firm had revenue of $341.30 million for the quarter, compared to the consensus estimate of $331.34 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts predict that Finisar Corp. will post $1.75 earnings per share for the current fiscal year.

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In related news, EVP Christopher Brown sold 2,470 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $26.50, for a total value of $65,455.00. Following the completion of the sale, the executive vice president now owns 128,637 shares of the company’s stock, valued at $3,408,880.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Julie Sheridan Eng sold 3,240 shares of the firm’s stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of $30.04, for a total value of $97,329.60. Following the completion of the sale, the executive vice president now directly owns 75,540 shares of the company’s stock, valued at approximately $2,269,221.60. The disclosure for this sale can be found here. 1.34% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in FNSR. State Street Corp raised its stake in shares of Finisar Corp. by 4.2% in the first quarter. State Street Corp now owns 1,796,616 shares of the company’s stock worth $32,770,000 after buying an additional 71,987 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Finisar Corp. by 4.1% in the first quarter. Geode Capital Management LLC now owns 717,091 shares of the company’s stock valued at $13,079,000 after buying an additional 28,397 shares in the last quarter. DNB Asset Management AS raised its position in shares of Finisar Corp. by 4.9% in the second quarter. DNB Asset Management AS now owns 2,050,340 shares of the company’s stock valued at $35,901,000 after buying an additional 95,585 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Finisar Corp. by 1.7% in the second quarter. Fisher Asset Management LLC now owns 4,122,559 shares of the company’s stock valued at $75,278,000 after buying an additional 69,249 shares in the last quarter. Finally, Trellus Management Company LLC purchased a new position in shares of Finisar Corp. during the second quarter valued at approximately $394,000. 91.86% of the stock is owned by institutional investors.

Finisar Corp. Company Profile

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 and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks.

5 Day Chart for NASDAQ:FNSR

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