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Finisar Corporation (FNSR): Today's Featured Technology Laggard

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

Finisar Corporation (FNSR) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 1.3%. By the end of trading, Finisar Corporation fell $0.31 (-2.3%) to $12.96 on average volume. Throughout the day, 2,450,705 shares of Finisar Corporation exchanged hands as compared to its average daily volume of 2,576,700 shares. The stock ranged in price between $12.93-$13.26 after having opened the day at $13.26 as compared to the previous trading day's close of $13.27. Other companies within the Technology sector that declined today were: Uni-pixel (UNXL), down 26.0%, Aruba Networks (ARUN), down 25.6%, Alteva (ALTV), down 23.3% and Aehr Test Systems (AEHR), down 12.6%.

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Finisar Corporation engages in the design, development, manufacture, and sale of optical subsystems and components for use in fiber optics-based data communication and telecommunication networks applications. Finisar Corporation has a market cap of $1.2 billion and is part of the computer hardware industry. The company has a P/E ratio of 146.2, above the S&P 500 P/E ratio of 17.7. Shares are down 19.2% year to date as of the close of trading on Thursday. Currently there are 7 analysts that rate Finisar Corporation a buy, 1 analyst rates it a sell, and 2 rate it a hold.

TheStreet Ratings rates Finisar Corporation as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

On the positive front, Renewable Energy Trade Board (EBOD), down 400.0%, DataTRAK International Incorporated (DATA), down 63.7%, SolarCity (SCTY), down 26.1% and Microvision (MVIS), down 19.4% , were all gainers within the technology sector with Cisco Systems (CSCO) being today's featured technology sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR (XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology (REW).

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