Today B. Riley FBR Reiterates a Neutral Rating on Finisar (NASDAQ:FNSR) and a $19 Target Price

September 7, 2018 - By Billy Entrekin

Finisar Corporation (NASDAQ:FNSR) Logo

Investors sentiment increased to 1.37 in Q1 2018. Its up 0.39, from 0.98 in 2017Q4. It improved, as 31 investors sold Finisar Corporation shares while 61 reduced holdings. 53 funds opened positions while 73 raised stakes. 113.82 million shares or 12.64% more from 101.05 million shares in 2017Q4 were reported.

Canada Pension Plan Invest Board invested 0.01% of its portfolio in Finisar Corporation (NASDAQ:FNSR). Aqr Capital Mgmt Limited owns 73,767 shares for 0% of their portfolio. Css Limited Liability Corporation Il reported 13,622 shares. Point72 Asia (Hong Kong) Ltd stated it has 31 shares. Ls Investment Ltd Liability Com invested in 3,330 shares. Qs Investors Ltd Limited Liability Company owns 110,377 shares for 0.02% of their portfolio. Amalgamated Bank accumulated 16,189 shares or 0.01% of the stock. Louisiana State Employees Retirement Systems owns 69,100 shares for 0.05% of their portfolio. Hsbc Plc stated it has 0% of its portfolio in Finisar Corporation (NASDAQ:FNSR). Blackrock Inc has 15.31 million shares for 0.01% of their portfolio. Texas Permanent School Fund accumulated 75,485 shares or 0.02% of the stock. Voya Investment Mgmt Lc accumulated 1.16M shares. Paloma Prns Mgmt, a Connecticut-based fund reported 60,104 shares. Tennessee-based First Mercantile Tru has invested 0.03% in Finisar Corporation (NASDAQ:FNSR). 110,736 were accumulated by Utd Svcs Automobile Association.

Since March 22, 2018, it had 0 insider purchases, and 7 sales for $2.75 million activity. Another trade for 13,825 shares valued at $237,704 was sold by Eng Julie Sheridan. 3,000 Finisar Corporation (NASDAQ:FNSR) shares with value of $51,900 were sold by FERGUSON ROGER C.

Finisar (NASDAQ:FNSR) Rating Reaffirmed

B. Riley FBR now has a $19 target price per share on shares of Finisar (NASDAQ:FNSR). The target price per share indicates a potential downside of -5.71 % from the last price of Finisar (NASDAQ:FNSR). This rating was shown in an analyst note on Friday morning.

Finisar Corporation (NASDAQ:FNSR) Ratings Coverage

Among 10 analysts covering Finisar Corp (NASDAQ:FNSR), 6 have Buy rating, 1 Sell and 3 Hold. Therefore 60% are positive. Finisar Corp has $26 highest and $1500 lowest target. $21.19’s average target is 5.16% above currents $20.15 stock price. Finisar Corp had 13 analyst reports since March 8, 2018 according to SRatingsIntel. The stock of Finisar Corporation (NASDAQ:FNSR) has “Buy” rating given on Friday, March 9 by DA Davidson. As per Thursday, April 5, the company rating was upgraded by Morgan Stanley. The rating was upgraded by PiperJaffray on Thursday, August 23 to “Overweight”. The rating was maintained by Goldman Sachs on Friday, March 9 with “Sell”. The stock of Finisar Corporation (NASDAQ:FNSR) has “Market Perform” rating given on Wednesday, August 22 by Raymond James. Jefferies maintained it with “Buy” rating and $2400 target in Friday, June 15 report. On Wednesday, April 11 the stock rating was maintained by Goldman Sachs with “Sell”. The stock of Finisar Corporation (NASDAQ:FNSR) earned “Buy” rating by Northland Capital on Monday, March 19. The firm has “Neutral” rating by FBR Capital given on Tuesday, September 4. The firm has “Hold” rating by Needham given on Friday, March 9.

The stock increased 7.47% or $1.4 during the last trading session, reaching $20.15. About 12.03 million shares traded or 399.43% up from the average. Finisar Corporation (NASDAQ:FNSR) has declined 31.34% since September 8, 2017 and is downtrending. It has underperformed by 43.91% the S&P500.

Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, China, Malaysia, and internationally. The company has market cap of $2.36 billion. The companyÂ’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 networks comprising switches, routers, and servers used in wireline networks, as well as antennas and base stations used in wireless networks. It currently has negative earnings. It also offers wavelength selective switches that are used to switch network traffic from one optical fiber to various other fibers without converting to an electronic signal.

More notable recent Finisar Corporation (NASDAQ:FNSR) news were published by: Streetinsider.com which released: “After-Hours Stock Movers 09/06: (OKTA) (FNSR) (FIVE) Higher; (EGAN) (MNLO) (HOME) Lower (more…)” on September 06, 2018, also Benzinga.com with their article: “Raymond James Downgrades Optical Name Finisar On Near-Term Pressures” published on August 22, 2018, Seekingalpha.com published: “Finisar Corporation 2019 Q1 – Results – Earnings Call Slides” on September 07, 2018. More interesting news about Finisar Corporation (NASDAQ:FNSR) were released by: Benzinga.com and their article: “25 Stocks Moving In Friday’s Pre-Market Session” published on September 07, 2018 as well as Seekingalpha.com‘s news article titled: “Finisar Corporation (FNSR) CEO Michael Hurlston on Q1 2019 Results – Earnings Call Transcript” with publication date: September 07, 2018.

Finisar Corporation (NASDAQ:FNSR) Institutional Positions Chart

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