EVP and GM, 3D Sensing Eng Julie Sheridan sold 1,489 shares in Finisar Corporation (NASDAQ:FNSR) for $87,487 in transaction occurred on 2018/12/18. After making this transaction, the EVP and GM, 3D Sensing owns a direct stake of 32,371 shares, worth $1,888,844, as per the last closing price. On 2018/12/04 Rawls Jerry S, Director at FNSR, dumped 40,000 shares at an average price of $23.03 per share. The selling total is valued at $8,985,132.
Separately, it had been reported that some other FNSR insiders also took part of the insider trading activity. Director, Rawls Jerry S had divested 30,208 shares for $456,171 through a trade on 2018/11/01. Following this activity, the insider holds 506,588 shares worth $9,848,732 as of recent close. Wall Street’s most bullish Finisar Corporation (NASDAQ:FNSR) analysts are predicting the share price to blow past $26 per share during the next 12 months. The current median share price forecast by them is $24, suggesting that the stock could increase 11.16% in that time frame. The average price target of $24.17 calls for a nearly 11.95% increase in the stock price.
Finisar Corporation (FNSR) trading activity significantly improved as the volume at ready counter increased to 2,725,400 shares versus 2,120,605 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 2,155,100 shares. The share price rose 0.98% in recent trade and currently has a stock-market value of $2.65B. The shares finished at $21.59, after trading as low as $21.18 earlier in the session. It hit an intraday high Thursday at $21.63. The stock is now 51.51% above against its bear-market low of $14.25 on April 04, 2018. It has retreated -9.68% since it’s 52-week high of $23.68 reached in December. Now the market price is up 1.03% on the year and down -0.05% YTD.
FNSR’s 50 day simple moving average (SMA 50) price is $21.04 and its 200-day simple moving average (SMA 200) price is $18.4. The company’s stock currently has a total float of 116.38M shares. Its weekly volatility is hovering around 2.09% and felt 2.66% volatility in price over a month. On the upside, the share price will test short term resistance at around $21.75. On a downside, the stock is likely to find some support, which begins at $21.3. The failure to get near-term support could push it to $21.02.
It had seen a new analyst call from Stifel, which initiated the stock at Hold on October 23. Analysts at Morgan Stanley, shed their positive views on September 13 by lowering it fromOverweight to Equal-Weight. Brokerage firm B. Riley FBR, looks cautious as they stick to prior recommendation of Neutral, in a call on September 07. However, they did change the target price from $17 to $19.
Moreover, it trades for 14.24 times the next 12 months of expected earnings. Also, it is trading at rather expensive levels at just over 1.58x price/book and 2.06x price/sales. Compared to others, Finisar Corporation is in a different league with regards to profitability, having net margins of -7.6%. To put some perspective around this, the industry’s average net margin is 5.34%. FNSR’s ROE is -6%, which is also considerably worse than the industry’s ROE of 8.18%. It’s also very liquid in the near term, with a current ratio of 3.7. The stock has a debt/capital of 0.47.
Shares of Finisar Corporation (FNSR) have dropped -8.4% since the company’s Jul-19 earnings report. Over the past 12 fiscal quarters, Finisar Corporation (NASDAQ:FNSR) has topped consensus earnings estimates in 7 quarters (58%), missed earnings in 5 quarters (41%), whereas at 0 occasion EPS met analyst expectations. FNSR last reported earnings on December 03, 2018 when it released Oct-18 results that exceeded expectations. The company raked in $0.26 per share, -98.76% change on the same period last year. That was better than consensus for $0.22. Revenue for the recent quarter stood at $325.42 million, down -2% on last year and below the $326.59 million predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $327.5 million to $406 million, which should be compared with $407.31 million generated last year. EPS is seen in a range of $0.24 to $0.36, against the $0.4 reported a year ago.