Capital Investment Counsel Inc trimmed its holdings in Finisar Co. (NASDAQ:FNSR) by 38.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,900 shares of the technology company’s stock after selling 24,475 shares during the quarter. Capital Investment Counsel Inc’s holdings in Finisar were worth $840,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in FNSR. Bank of Montreal Can raised its position in shares of Finisar by 57.3% during the 4th quarter. Bank of Montreal Can now owns 3,535 shares of the technology company’s stock valued at $76,000 after buying an additional 1,288 shares during the period. Capital Investment Advisory Services LLC purchased a new stake in shares of Finisar during the 4th quarter valued at approximately $119,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Finisar during the 3rd quarter valued at approximately $210,000. First Mercantile Trust Co. raised its position in shares of Finisar by 42.7% during the 3rd quarter. First Mercantile Trust Co. now owns 12,070 shares of the technology company’s stock valued at $230,000 after buying an additional 3,610 shares during the period. Finally, Cerebellum GP LLC raised its position in shares of Finisar by 1,662.6% during the 4th quarter. Cerebellum GP LLC now owns 12,338 shares of the technology company’s stock valued at $267,000 after buying an additional 11,638 shares during the period. 95.72% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:FNSR opened at $22.70 on Monday. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of 70.94, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.69 and a quick ratio of 3.05. Finisar Co. has a 52 week low of $14.25 and a 52 week high of $23.68.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Monday, December 3rd. The technology company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.16. The business had revenue of $325.42 million during the quarter, compared to the consensus estimate of $327.84 million. Finisar had a negative net margin of 7.61% and a positive return on equity of 1.52%. On average, sell-side analysts anticipate that Finisar Co. will post 0.53 earnings per share for the current fiscal year.
Several research firms recently weighed in on FNSR. Morgan Stanley lifted their target price on shares of Finisar from $20.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, December 4th. Jefferies Financial Group downgraded shares of Finisar from a “buy” rating to a “hold” rating in a report on Thursday, December 6th. MKM Partners reiterated a “neutral” rating and issued a $24.00 target price on shares of Finisar in a report on Thursday, December 6th. ValuEngine upgraded shares of Finisar from a “buy” rating to a “strong-buy” rating in a report on Thursday, November 15th. Finally, BidaskClub upgraded shares of Finisar from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 8th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $25.29.
In related news, Director Jerry S. Rawls sold 40,000 shares of the business’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $23.03, for a total transaction of $921,200.00. Following the completion of the transaction, the director now owns 416,171 shares in the company, valued at $9,584,418.13. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Julie Sheridan Eng sold 1,489 shares of the business’s stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $21.74, for a total transaction of $32,370.86. The disclosure for this sale can be found here. Insiders own 1.11% of the company’s stock.
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Finisar Company Profile
Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.
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