The stock of Finisar Corporation (NASDAQ:FNSR) hit a new 52-week high and has $36.90 target or 8.00% above today’s $34.17 share price. The 8 months bullish chart indicates low risk for the $3.75B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $36.90 price target is reached, the company will be worth $300.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.09M shares traded hands or 41.22% up from the average. Finisar Corporation (NASDAQ:FNSR) has risen 89.47% since April 25, 2016 and is uptrending. It has outperformed by 83.46% the S&P500.
Analysts await Finisar Corporation (NASDAQ:FNSR) to report earnings on December, 8 after the close. They expect $0.38 earnings per share, up 123.53% or $0.21 from last year’s $0.17 per share. FNSR’s profit will be $41.70M for 22.48 P/E if the $0.38 EPS becomes a reality. After $0.27 actual earnings per share reported by Finisar Corporation for the previous quarter, Wall Street now forecasts 40.74% EPS growth.
Finisar Corporation (NASDAQ:FNSR) Ratings Coverage
Out of 13 analysts covering Finisar Corporation (NASDAQ:FNSR), 9 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 69% are positive. Finisar Corporation has been the topic of 32 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by Jefferies given on Friday, June 17. The stock has “Buy” rating given by Needham on Friday, September 11. The firm earned “Buy” rating on Monday, September 12 by Stifel Nicolaus. On Monday, September 19 the stock rating was maintained by Needham with “Buy”. M Partners maintained Finisar Corporation (NASDAQ:FNSR) on Friday, June 17 with “Neutral” rating. The firm has “Neutral” rating given on Friday, September 11 by B. Riley & Co. The stock has “Buy” rating given by Stifel Nicolaus on Tuesday, September 6. The stock of Finisar Corporation (NASDAQ:FNSR) has “Sector Perform” rating given on Wednesday, September 9 by RBC Capital Markets. Barclays Capital maintained Finisar Corporation (NASDAQ:FNSR) on Friday, September 9 with “Equal Weight” rating. The stock of Finisar Corporation (NASDAQ:FNSR) has “Buy” rating given on Monday, October 31 by Needham.
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.”
Insitutional Activity: The institutional sentiment increased to 1.7 in Q2 2016. Its up 0.16, from 1.54 in 2016Q1. The ratio is positive, as 22 funds sold all Finisar Corporation shares owned while 46 reduced positions. 32 funds bought stakes while 73 increased positions. They now own 99.67 million shares or 1.76% more from 97.95 million shares in 2016Q1.
Tudor Inv Corp Et Al holds 0.02% of its portfolio in Finisar Corporation (NASDAQ:FNSR) for 40,930 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% of its portfolio in Finisar Corporation (NASDAQ:FNSR). Service Automobile Association accumulated 73,344 shares or 0% of the stock. Fmr Ltd Liability Corp last reported 0% of its portfolio in the stock. Grp Inc One Trading Lp last reported 0% of its portfolio in the stock. Ameriprise Financial holds 1.43 million shares or 0.01% of its portfolio. Susquehanna Group Inc Incorporated Llp last reported 0% of its portfolio in the stock. Bank & Trust Of America De accumulated 0% or 407,542 shares. Teachers Advsrs Inc owns 866,910 shares or 0.03% of their US portfolio. Virginia Retirement Et Al holds 0.01% or 31,800 shares in its portfolio. State Common Retirement Fund last reported 110,100 shares in the company. Cwm Llc, a Nebraska-based fund reported 125 shares. Employees Retirement Sys Of Texas has invested 0.02% of its portfolio in Finisar Corporation (NASDAQ:FNSR). Td Asset Inc owns 40,868 shares or 0% of their US portfolio. Rhumbline Advisers reported 129,113 shares or 0.01% of all its holdings.
Insider Transactions: Since July 21, 2016, the stock had 0 insider purchases, and 25 sales for $8.84 million net activity. The insider CLARK JOHN H sold $467,254. Brown Christopher sold $294,500 worth of Finisar Corporation (NASDAQ:FNSR) on Wednesday, October 5. Young Joseph A had sold 6,690 shares worth $139,821 on Monday, August 22. 6,183 Finisar Corporation (NASDAQ:FNSR) shares with value of $177,947 were sold by Swanson Todd. RAWLS JERRY S sold $857,532 worth of Finisar Corporation (NASDAQ:FNSR) on Tuesday, September 20. Another trade for 3,240 shares valued at $97,322 was sold by Eng Julie Sheridan. 12,975 shares were sold by Colyar Mark, worth $343,838.
FNSR Company Profile
Finisar Corporation (Finisar), incorporated on October 1, 1999, is a well-known 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, as well as the antennas and base stations used in wireless networks. These products rely on the use of semiconductor lasers and photodetectors in conjunction with integrated circuits and optoelectronic packaging to provide a means for transmitting and receiving digital signals over fiber optic cable at speeds ranging from less than one gigabit per second (Gbps), to more than 100 Gbps, over distances of less than 10 meters to more than 2,000 kilometers, using a range of network protocols and physical configurations.
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