Jennison Associates LLC Increases Stake in Finisar Co. (FNSR)

Jennison Associates LLC grew its stake in shares of Finisar Co. (NASDAQ:FNSR) by 24.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,757 shares of the technology company’s stock after purchasing an additional 2,680 shares during the period. Jennison Associates LLC’s holdings in Finisar were worth $280,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Amalgamated Bank boosted its stake in shares of Finisar by 2.9% during the 2nd quarter. Amalgamated Bank now owns 13,912 shares of the technology company’s stock valued at $361,000 after purchasing an additional 396 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Finisar by 5.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,795 shares of the technology company’s stock valued at $254,000 after purchasing an additional 507 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Finisar by 1.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 61,782 shares of the technology company’s stock valued at $1,605,000 after purchasing an additional 684 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Finisar by 20.6% during the 2nd quarter. Advisory Services Network LLC now owns 8,500 shares of the technology company’s stock valued at $221,000 after purchasing an additional 1,450 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Finisar by 43.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,805 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently weighed in on FNSR shares. DA Davidson reaffirmed a “buy” rating and set a $30.00 target price on shares of Finisar in a research note on Wednesday, November 29th. Piper Jaffray Companies lifted their target price on shares of Finisar from $22.00 to $28.00 in a research note on Wednesday, December 13th. Raymond James Financial set a $26.00 target price on shares of Finisar and gave the company a “buy” rating in a research note on Tuesday, December 19th. Stifel Nicolaus dropped their price objective on shares of Finisar from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, December 6th. Finally, B. Riley lowered shares of Finisar from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $31.00 to $22.00 in a research note on Wednesday, November 29th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.27.

In other news, Director Jerry S. Rawls sold 30,209 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total value of $541,949.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John H. Clark sold 6,186 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $24.90, for a total transaction of $154,031.40. Following the completion of the transaction, the executive vice president now owns 146,053 shares in the company, valued at approximately $3,636,719.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,578 shares of company stock worth $1,273,865. Insiders own 1.02% of the company’s stock.

Shares of Finisar Co. (NASDAQ:FNSR) opened at $16.71 on Tuesday. Finisar Co. has a 52 week low of $16.64 and a 52 week high of $36.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.31 and a current ratio of 7.81. The company has a market cap of $2,004.54, a PE ratio of 13.73, a P/E/G ratio of 1.77 and a beta of 1.07.

Finisar (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The business had revenue of $332.21 million for the quarter, compared to analyst estimates of $331.69 million. Finisar had a net margin of 14.33% and a return on equity of 9.51%. analysts expect that Finisar Co. will post 0.71 EPS for the current fiscal year.

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About Finisar

Finisar Corporation (Finisar) is a 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.

Institutional Ownership by Quarter for Finisar (NASDAQ:FNSR)

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