The stock of Finisar Corporation (NASDAQ:FNSR) hit a new 52-week high and has $50.43 target or 64.00% above today’s $30.75 share price. The 7 months bullish chart indicates low risk for the $3.44B company. The 1-year high was reported on Oct, 5 by Barchart.com. If the $50.43 price target is reached, the company will be worth $2.20B 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 528,213 shares traded hands. Finisar Corporation (NASDAQ:FNSR) has risen 98.54% since March 2, 2016 and is uptrending. It has outperformed by 90.28% the S&P500.
Finisar Corporation (NASDAQ:FNSR) Ratings Coverage
Out of 12 analysts covering Finisar Corporation (NASDAQ:FNSR), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. Finisar Corporation has been the topic of 29 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The rating was upgraded by Stifel Nicolaus to “Buy” on Tuesday, September 6. The firm has “Overweight” rating by Barclays Capital given on Friday, September 11. The rating was upgraded by William Blair on Friday, September 9 to “Outperform”. The firm has “Buy” rating given on Friday, March 11 by Craig Hallum. The rating was downgraded by B. Riley & Co on Friday, September 11 to “Neutral”. The firm has “Equalweight” rating by Barclays Capital given on Friday, June 17. On Friday, March 11 the stock rating was maintained by B. Riley & Co with “Buy”. Stifel Nicolaus maintained the shares of FNSR in a report on Monday, September 12 with “Buy” rating. The stock has “Sector Perform” rating given by RBC Capital Markets on Wednesday, September 9. Northland Capital initiated Finisar Corporation (NASDAQ:FNSR) on Tuesday, August 18 with “Market Perform” rating.
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 1.54 in Q2 2016. Its up 0.15, from 1.39 in 2016Q1. The ratio improved, 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.
The Texas-based Carlson Cap Lp has invested 0.45% in Finisar Corporation (NASDAQ:FNSR). Cap Ww Investors holds 8.38 million shares or 0.04% of its portfolio. Calamos Advsrs Ltd Limited Liability Company holds 0.02% of its portfolio in Finisar Corporation (NASDAQ:FNSR) for 137,429 shares. Blackrock Inv Management Ltd Liability Corporation accumulated 443,055 shares or 0.01% of the stock. Tower Cap Limited Liability Company (Trc) has 3,472 shares for 0.01% of their US portfolio. The New York-based Alliancebernstein Lp has invested 0.12% in Finisar Corporation (NASDAQ:FNSR). One Trading Limited Partnership holds 0% or 5,181 shares in its portfolio. Chicago Equity Limited has invested 0.01% of its portfolio in Finisar Corporation (NASDAQ:FNSR). True Bearing Asset Mngmt L P holds 35,410 shares or 3.27% of its portfolio. Moreover, Creative Planning has 0% invested in Finisar Corporation (NASDAQ:FNSR) for 810 shares. Qs Investors last reported 0% of its portfolio in the stock. Northern Trust Corp has 2.70M shares for 0.02% of their US portfolio. Metropolitan Life Ins Ny has 75,528 shares for 0.01% of their US portfolio. Bogle Investment Mgmt Ltd Partnership De reported 133,019 shares or 0.16% of all its holdings. Tfs Capital Limited Co last reported 49,927 shares in the company.
Insider Transactions: Since July 21, 2016, the stock had 0 insider buys, and 20 sales for $7.83 million net activity. Another trade for 6,473 shares valued at $128,813 was made by Young Joseph A on Tuesday, August 9. Eng Julie Sheridan sold $3,560 worth of stock or 178 shares. Another trade for 5,887 shares valued at $117,740 was sold by Brown Christopher. On Tuesday, September 20 the insider RAWLS JERRY S sold $857,532. On Thursday, September 22 FERGUSON ROGER C sold $82,880 worth of the stock or 2,853 shares. 6,183 Finisar Corporation (NASDAQ:FNSR) shares with value of $175,388 were sold by Swanson Todd. The insider Colyar Mark sold $343,838.
More recent Finisar Corporation (NASDAQ:FNSR) news were published by: Fool.com which released: “Why Finisar Corporation Stock Popped Today” on September 09, 2016. Also Seekingalpha.com published the news titled: “Finisar’s Epic Bull Run Can Continue” on October 04, 2016. Finance.Yahoo.com‘s news article titled: “Bull of the Day: Finisar Corp (FNSR)” with publication date: September 30, 2016 was also an interesting one.
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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