Rhumbline Advisers reduced its position in Finisar Co. (NASDAQ:FNSR) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 115,682 shares of the technology company’s stock after selling 18,512 shares during the quarter. Rhumbline Advisers owned about 0.10% of Finisar worth $2,354,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Jennison Associates LLC raised its position in shares of Finisar by 24.2% in the 4th quarter. Jennison Associates LLC now owns 13,757 shares of the technology company’s stock worth $280,000 after buying an additional 2,680 shares during the period. Verity Asset Management Inc. raised its position in shares of Finisar by 27.0% in the 3rd quarter. Verity Asset Management Inc. now owns 13,267 shares of the technology company’s stock worth $312,000 after buying an additional 2,819 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in Finisar by 103.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock valued at $127,000 after purchasing an additional 2,912 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in Finisar by 3.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 97,201 shares of the technology company’s stock valued at $2,155,000 after purchasing an additional 3,341 shares in the last quarter. Finally, Pacer Advisors Inc. increased its holdings in Finisar by 27.4% in the 3rd quarter. Pacer Advisors Inc. now owns 15,831 shares of the technology company’s stock valued at $351,000 after purchasing an additional 3,403 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on FNSR. Craig Hallum set a $28.00 price target on Finisar and gave the company a “buy” rating in a report on Thursday, December 14th. Raymond James Financial set a $22.00 price target on Finisar and gave the company a “buy” rating in a report on Thursday, December 7th. Loop Capital began coverage on Finisar in a report on Monday, January 29th. They issued a “hold” rating and a $19.00 price target for the company. ValuEngine downgraded Finisar from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, B. Riley reiterated a “buy” rating and issued a $17.50 price target (down from $18.00) on shares of Finisar in a report on Friday, March 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $24.56.
In other news, Director Roger C. Ferguson sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $21.68, for a total transaction of $65,040.00. Following the completion of the sale, the director now directly owns 41,034 shares in the company, valued at $889,617.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jerry S. Rawls sold 30,209 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $17.94, for a total value of $541,949.46. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
Shares of Finisar Co. (NASDAQ:FNSR) opened at $17.65 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.24 and a current ratio of 4.06. The firm has a market capitalization of $2,072.54, a PE ratio of 20.52, a PEG ratio of 2.74 and a beta of 1.02. Finisar Co. has a 52 week low of $16.64 and a 52 week high of $29.07.
Finisar (NASDAQ:FNSR) last announced its earnings results on Thursday, March 8th. The technology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). The business had revenue of $332.40 million for the quarter, compared to analyst estimates of $333.15 million. Finisar had a net margin of 7.35% and a return on equity of 5.97%. The firm’s revenue was down 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.59 earnings per share. sell-side analysts predict that Finisar Co. will post 0.47 EPS for the current fiscal year.
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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.
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