Ardsley Advisory Partners lowered its stake in shares of Finisar Co. (NASDAQ:FNSR) by 93.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,000 shares of the technology company’s stock after selling 202,500 shares during the quarter. Ardsley Advisory Partners’ holdings in Finisar were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of FNSR. Ladenburg Thalmann Financial Services Inc. boosted its position in Finisar by 103.4% during the third 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. Cheyne Capital Management UK LLP bought a new stake in Finisar during the third quarter valued at about $155,000. Cubist Systematic Strategies LLC boosted its position in Finisar by 598.3% during the third quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after purchasing an additional 6,001 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Finisar during the fourth quarter valued at about $158,000. Finally, Janney Montgomery Scott LLC bought a new stake in Finisar during the third quarter valued at about $217,000. 94.03% of the stock is currently owned by institutional investors.
Shares of Finisar Co. (NASDAQ FNSR) opened at $20.32 on Tuesday. The company has a quick ratio of 3.24, a current ratio of 4.06 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $2,320.00, a PE ratio of 16.52, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. Finisar Co. has a twelve month low of $16.64 and a twelve month high of $29.07.
In related news, Director Roger C. Ferguson sold 3,000 shares of Finisar 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 owns 41,034 shares of the company’s stock, valued at $889,617.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry S. Rawls sold 30,209 shares of Finisar stock in a transaction dated Thursday, February 1st. The stock was 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. Insiders have sold 62,578 shares of company stock valued at $1,273,865 in the last ninety days. Corporate insiders own 1.02% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Barclays set a $23.00 price objective on Finisar and gave the company a “hold” rating in a research report on Saturday. Goldman Sachs Group set a $15.00 price objective on Finisar and gave the company a “sell” rating in a research report on Friday. DA Davidson reaffirmed a “buy” rating and set a $22.00 price objective (down previously from $24.00) on shares of Finisar in a research report on Friday. B. Riley reaffirmed a “buy” rating and set a $17.50 price objective (down previously from $18.00) on shares of Finisar in a research report on Friday. Finally, Stifel Nicolaus dropped their price objective on Finisar from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Finisar has a consensus rating of “Hold” and a consensus price target of $26.13.
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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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