Virginia Retirement Systems ET AL bought a new position in Finisar Corp. (NASDAQ:FNSR) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 31,800 shares of the company’s stock, valued at approximately $557,000.
A number of other institutional investors also recently modified their holdings of FNSR. Strs Ohio boosted its position in shares of Finisar Corp. by 20.4% in the second quarter. Strs Ohio now owns 6,500 shares of the company’s stock worth $113,000 after buying an additional 1,100 shares during the period. BlackRock Inc. boosted its position in shares of Finisar Corp. by 71.5% in the first quarter. BlackRock Inc. now owns 8,607 shares of the company’s stock worth $156,000 after buying an additional 3,589 shares during the period. Prudential Financial Inc. bought a new position in shares of Finisar Corp. during the second quarter worth about $191,000. Quantitative Systematic Strategies LLC bought a new position in shares of Finisar Corp. during the second quarter worth about $222,000. Finally, Teacher Retirement System of Texas boosted its position in shares of Finisar Corp. by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 14,914 shares of the company’s stock worth $261,000 after buying an additional 1,804 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.
Finisar Corp. (NASDAQ:FNSR) opened at 30.84 on Thursday. The company has a market capitalization of $3.40 billion, a P/E ratio of 60.35 and a beta of 1.37. Finisar Corp. has a 1-year low of $11.04 and a 1-year high of $31.20. The firm has a 50-day moving average price of $25.43 and a 200-day moving average price of $19.64.
Finisar Corp. (NASDAQ:FNSR) last released its quarterly earnings results on Thursday, September 8th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.08. Finisar Corp. had a return on equity of 7.61% and a net margin of 4.32%. The firm had revenue of $341.30 million for the quarter, compared to analyst estimates of $331.34 million. During the same quarter in the previous year, the company posted $0.23 EPS. The business’s revenue was up 8.7% on a year-over-year basis. On average, analysts forecast that Finisar Corp. will post $1.73 EPS for the current fiscal year.
A number of equities analysts have issued reports on FNSR shares. B. Riley restated a “buy” rating and set a $20.00 target price on shares of Finisar Corp. in a report on Tuesday, June 14th. Needham & Company LLC restated a “buy” rating and set a $24.00 target price (up previously from $22.00) on shares of Finisar Corp. in a report on Tuesday, June 14th. Piper Jaffray Cos. reaffirmed a “buy” rating and set a $20.00 price target on shares of Finisar Corp. in a research report on Wednesday, June 15th. TheStreet raised Finisar Corp. from a “hold” rating to a “buy” rating in a research report on Monday, June 20th. Finally, Zacks Investment Research raised Finisar Corp. from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Monday, July 11th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $28.09.
In other Finisar Corp. news, Director Roger C. Ferguson sold 2,853 shares of the company’s stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $29.05, for a total value of $82,879.65. Following the sale, the director now owns 42,140 shares in the company, valued at approximately $1,224,167. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP John H. Clark sold 11,265 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $29.72, for a total value of $334,795.80. Following the completion of the sale, the executive vice president now owns 163,573 shares in the company, valued at approximately $4,861,389.56. The disclosure for this sale can be found here. 1.34% of the stock is owned by company insiders.
About Finisar Corp.
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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