Is Finisar (NASDAQ:FNSR) a Sell? What does Cascend Securities Think?

July 13, 2018 - By Elizabeth Jones

Finisar Corporation (NASDAQ:FNSR) Logo

Investors sentiment increased to 1.37 in 2018 Q1. 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.

Walleye Trading Lc holds 0.02% or 200,135 shares in its portfolio. Raymond James Fincl Ser Advsr Incorporated invested in 23,550 shares or 0% of the stock. Nj State Employees Deferred Compensation Plan reported 28,000 shares stake. Kopp Advsrs Limited Liability Corp holds 121,508 shares or 1.95% of its portfolio. Susquehanna International Group Ltd Liability Partnership, Pennsylvania-based fund reported 28,824 shares. Stoneridge Inv Prtnrs Ltd Liability owns 21,225 shares. Congress Asset Mgmt Ma holds 0.03% or 144,158 shares in its portfolio. Livforsakringsbolaget Skandia Omsesidigt has invested 0.09% in Finisar Corporation (NASDAQ:FNSR). Canada Pension Plan Inv Board has 419,770 shares for 0.01% of their portfolio. Dimensional Fund L P reported 7.59M shares stake. Great West Life Assurance Company Can holds 0.01% of its portfolio in Finisar Corporation (NASDAQ:FNSR) for 152,061 shares. National Bank & Trust Of New York Mellon Corporation has invested 0.01% in Finisar Corporation (NASDAQ:FNSR). Manufacturers Life The holds 84,399 shares or 0% of its portfolio. Principal Finance Group invested in 890,383 shares or 0.01% of the stock. Howe Rusling reported 94 shares.

Since January 31, 2018, it had 0 insider purchases, and 8 insider sales for $3.29 million activity. RAWLS JERRY S had sold 30,209 shares worth $541,998 on Wednesday, January 31. Eng Julie Sheridan sold $237,704 worth of stock.

Why Has Cascend Securities Given Finisar (NASDAQ:FNSR) a $25 Price Target

Cascend Securities revealed to investors in an analysts note that it began coverage on Finisar (NASDAQ:FNSR) stock, with “Buy” rating and a $25 target.

Finisar Corporation (NASDAQ:FNSR) Ratings Coverage

Among 11 analysts covering Finisar Corp (NASDAQ:FNSR), 6 have Buy rating, 1 Sell and 4 Hold. Therefore 55% are positive. Finisar Corp has $25.0 highest and $1500 lowest target. $20.72’s average target is 13.85% above currents $18.2 stock price. Finisar Corp had 19 analyst reports since January 15, 2018 according to SRatingsIntel. Jefferies maintained it with “Buy” rating and $2400 target in Friday, June 15 report. On Wednesday, January 24 the stock rating was maintained by Stifel Nicolaus with “Buy”. The firm earned “Buy” rating on Friday, March 9 by Northland Capital. The stock of Finisar Corporation (NASDAQ:FNSR) earned “Buy” rating by Stifel Nicolaus on Thursday, March 8. The company was downgraded on Friday, March 9 by Needham. As per Friday, February 2, the company rating was maintained by Jefferies. The firm earned “Sell” rating on Monday, January 15 by Goldman Sachs. B. Riley & Co maintained Finisar Corporation (NASDAQ:FNSR) on Thursday, March 1 with “Neutral” rating. The stock has “Outperform” rating by Raymond James on Monday, March 5. The firm has “Buy” rating given on Friday, March 9 by DA Davidson.

The stock decreased 1.09% or $0.2 during the last trading session, reaching $18.2. About 3.70M shares traded or 55.64% up from the average. Finisar Corporation (NASDAQ:FNSR) has declined 31.34% since July 13, 2017 and is downtrending. It has underperformed by 43.91% the S&P500.

Analysts await Finisar Corporation (NASDAQ:FNSR) to report earnings on September, 6. They expect $0.02 EPS, down 92.86 % or $0.26 from last year’s $0.28 per share. FNSR’s profit will be $2.30M for 227.50 P/E if the $0.02 EPS becomes a reality. After $-0.02 actual EPS reported by Finisar Corporation for the previous quarter, Wall Street now forecasts -200.00 % EPS growth.

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 $2.09 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 recent Finisar Corporation (NASDAQ:FNSR) news were published by: Globenewswire.com which released: “Finisar Announces Fiscal 2018 Financial Results” on June 14, 2018. Also Benzinga.com published the news titled: “A Preview Of Finisar’s Q4 Earnings” on June 14, 2018. Bizjournals.com‘s news article titled: “Major Apple supplier continues hiring at new DFW plant” with publication date: July 05, 2018 was also an interesting one.

Finisar Corporation (NASDAQ:FNSR) Institutional Positions Chart

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