Engineers Gate Manager LP bought a new stake in shares of Finisar Corporation (NASDAQ:FNSR) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 61,334 shares of the technology company’s stock, valued at approximately $1,593,000. Engineers Gate Manager LP owned about 0.05% of Finisar Corporation at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC raised its stake in Finisar Corporation by 4.4% during the 1st quarter. Acrospire Investment Management LLC now owns 3,991 shares of the technology company’s stock valued at $109,000 after purchasing an additional 168 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new position in Finisar Corporation during the 2nd quarter valued at $138,000. Westside Investment Management Inc. acquired a new position in Finisar Corporation during the 1st quarter valued at $150,000. Quantitative Systematic Strategies LLC acquired a new position in Finisar Corporation during the 2nd quarter valued at $202,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Finisar Corporation during the 1st quarter valued at $231,000. Hedge funds and other institutional investors own 86.38% of the company’s stock.
Shares of Finisar Corporation (FNSR) opened at 21.37 on Tuesday. The firm’s 50-day moving average is $24.74 and its 200-day moving average is $26.04. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 9.76 and a beta of 1.33. Finisar Corporation has a one year low of $20.16 and a one year high of $36.85.
Finisar Corporation (NASDAQ:FNSR) last issued its earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $341.80 million during the quarter, compared to the consensus estimate of $341.22 million. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. Analysts expect that Finisar Corporation will post $1.65 EPS for the current fiscal year.
A number of brokerages have recently issued reports on FNSR. Zacks Investment Research cut shares of Finisar Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. B. Riley restated a “buy” rating and issued a $38.00 price objective on shares of Finisar Corporation in a research note on Sunday, June 18th. MKM Partners restated a “buy” rating and issued a $31.00 price objective (down previously from $33.00) on shares of Finisar Corporation in a research note on Monday. Jefferies Group LLC restated a “buy” rating and issued a $28.50 price objective (down previously from $34.00) on shares of Finisar Corporation in a research note on Friday. Finally, William Blair restated an “outperform” rating on shares of Finisar Corporation in a research note on Thursday, September 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $32.87.
In other news, Chairman Jerry S. Rawls sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $25.93, for a total value of $648,250.00. Following the completion of the transaction, the chairman now owns 815,188 shares of the company’s stock, valued at $21,137,824.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd Swanson sold 6,202 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $24.34, for a total value of $150,956.68. Following the completion of the transaction, the executive vice president now directly owns 217,005 shares of the company’s stock, valued at approximately $5,281,901.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,961 shares of company stock valued at $2,742,336. Insiders own 1.02% of the company’s stock.
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Finisar Corporation 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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