Nationwide Fund Advisors raised its position in Finisar Corp. (NASDAQ:FNSR) by 2.4% during the second quarter, Holdings Channel reports. The fund owned 186,107 shares of the company’s stock after buying an additional 4,420 shares during the period. Nationwide Fund Advisors owned about 0.17% of Finisar Corp. worth $3,259,000 as of its most recent filing with the SEC.
A number of other hedge funds have also added to or reduced their stakes in the company. Kennedy Capital Management Inc. increased its position in Finisar Corp. by 3.7% in the first quarter. Kennedy Capital Management Inc. now owns 394,037 shares of the company’s stock worth $7,187,000 after buying an additional 13,928 shares during the last quarter. Bogle Investment Management L P DE bought a new stake in shares of Finisar Corp. during the first quarter worth $873,000. Geode Capital Management LLC increased its stake in shares of Finisar Corp. by 4.1% in the first quarter. Geode Capital Management LLC now owns 717,091 shares of the company’s stock worth $13,079,000 after buying an additional 28,397 shares during the last quarter. State Street Corp increased its stake in shares of Finisar Corp. by 4.2% in the first quarter. State Street Corp now owns 1,796,616 shares of the company’s stock worth $32,770,000 after buying an additional 71,987 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Finisar Corp. by 70.6% in the first quarter. Canada Pension Plan Investment Board now owns 520,970 shares of the company’s stock worth $9,502,000 after buying an additional 215,600 shares during the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.
Shares of Finisar Corp. (NASDAQ:FNSR) traded down 0.52% on Friday, hitting $30.75. The stock had a trading volume of 343,698 shares. The firm’s 50-day moving average price is $25.74 and its 200 day moving average price is $19.72. Finisar Corp. has a 52-week low of $11.04 and a 52-week high of $31.20. The firm has a market cap of $3.39 billion, a PE ratio of 60.18 and a beta of 1.37.
Finisar Corp. (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, September 8th. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.08. Finisar Corp. had a return on equity of 7.61% and a net margin of 4.32%. The company had revenue of $341.30 million for the quarter, compared to the consensus estimate of $331.34 million. During the same quarter in the prior year, the business earned $0.23 EPS. Finisar Corp.’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts predict that Finisar Corp. will post $1.74 EPS for the current year.
A number of equities research analysts recently weighed in on FNSR shares. Needham & Company LLC raised their price objective on Finisar Corp. from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, June 20th. B. Riley reaffirmed a “buy” rating and set a $32.25 price objective on shares of Finisar Corp. in a research report on Sunday, September 11th. Barclays PLC reaffirmed an “equal weight” rating and set a $20.00 price objective (up previously from $17.00) on shares of Finisar Corp. in a research report on Friday, June 17th. TheStreet raised Finisar Corp. from a “hold” rating to a “buy” rating in a research report on Monday, June 20th. Finally, William Blair raised Finisar Corp. from a “market perform” rating to an “outperform” rating in a research report on Friday, September 9th. 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. Finisar Corp. has an average rating of “Buy” and an average target price of $28.09.
In other news, Chairman Jerry S. Rawls sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $28.58, for a total transaction of $857,400.00. Following the completion of the transaction, the chairman now directly owns 779,464 shares of the company’s stock, valued at approximately $22,277,081.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Christopher Brown sold 14,584 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $19.10, for a total value of $278,554.40. Following the transaction, the executive vice president now directly owns 151,578 shares of the company’s stock, valued at $2,895,139.80. The disclosure for this sale can be found here. Company insiders own 1.34% of the company’s stock.
Finisar Corp. Company Profile
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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