Finisar Rises On Unusually High Volume (FNSR)

NEW YORK ( TheStreet) -- Finisar Corporation (Nasdaq: FNSR) is trading at unusually high volume Thursday with 12 million shares changing hands. It is currently at four times its average daily volume and trading up $1.28 (+6.3%) at $21.57 as of 1:55 p.m. ET.

Finisar has a market cap of $1.89 billion and is part of the technology sector and computer hardware industry. Shares are up 21.2% year to date as of the close of trading on Wednesday.

Finisar Corporation designs, develops, manufactures, and markets optical subsystems, components, and network performance test systems for high-speed data communications in the United States, Malaysia, and the People's Republic of China, and internationally. The company has a P/E ratio of 40.4, above the average computer hardware industry P/E ratio of 37.9 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Finisar as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. You can view the full Finisar Ratings Report.

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