State of New Jersey Common Pension Fund D Increases Stake in Finisar Corporation (FNSR)

State of New Jersey Common Pension Fund D grew its holdings in shares of Finisar Corporation (NASDAQ:FNSR) by 38.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,385,000 shares of the technology company’s stock after buying an additional 385,000 shares during the period. State of New Jersey Common Pension Fund D owned 1.22% of Finisar Corporation worth $30,705,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FNSR. UBS Asset Management Americas Inc. boosted its holdings in shares of Finisar Corporation by 22.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 61,098 shares of the technology company’s stock valued at $1,670,000 after buying an additional 11,120 shares in the last quarter. Prudential Financial Inc. boosted its holdings in shares of Finisar Corporation by 0.8% during the 1st quarter. Prudential Financial Inc. now owns 15,535 shares of the technology company’s stock valued at $425,000 after buying an additional 120 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Finisar Corporation by 9.7% during the 1st quarter. Principal Financial Group Inc. now owns 68,439 shares of the technology company’s stock valued at $1,871,000 after buying an additional 6,076 shares in the last quarter. Teachers Advisors LLC boosted its holdings in shares of Finisar Corporation by 21.0% during the 1st quarter. Teachers Advisors LLC now owns 1,659,925 shares of the technology company’s stock valued at $45,382,000 after buying an additional 287,755 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of Finisar Corporation by 3.1% during the 1st quarter. Legal & General Group Plc now owns 35,791 shares of the technology company’s stock valued at $983,000 after buying an additional 1,063 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

Finisar Corporation (FNSR) opened at 21.81 on Friday. The firm has a 50-day moving average price of $22.05 and a 200-day moving average price of $24.32. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 10.26 and a beta of 1.31. Finisar Corporation has a 12 month low of $20.16 and a 12 month high of $36.85.

Finisar Corporation (NASDAQ:FNSR) last announced its earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The company had revenue of $341.80 million for the quarter, compared to the consensus estimate of $341.22 million. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was up .1% on a year-over-year basis. Equities research analysts expect that Finisar Corporation will post $1.47 earnings per share for the current fiscal year.

In other Finisar Corporation news, EVP Todd Swanson sold 6,202 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $24.34, for a total transaction of $150,956.68. Following the sale, the executive vice president now directly owns 217,005 shares of the company’s stock, valued at approximately $5,281,901.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Jerry S. Rawls sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $27.58, for a total transaction of $689,500.00. Following the sale, the chairman now directly owns 815,188 shares in the company, valued at $22,482,885.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,928 shares of company stock worth $898,957. Company insiders own 1.02% of the company’s stock.

FNSR has been the topic of a number of research reports. Stifel Nicolaus restated a “buy” rating and set a $33.00 target price on shares of Finisar Corporation in a report on Saturday, July 22nd. Northland Securities restated a “buy” rating and set a $40.00 target price on shares of Finisar Corporation in a report on Friday, July 28th. BidaskClub cut shares of Finisar Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of Finisar Corporation from a “sell” rating to a “hold” rating and set a $27.00 target price on the stock in a report on Tuesday, August 15th. Finally, ValuEngine cut shares of Finisar Corporation from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $32.60.

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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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Institutional Ownership by Quarter for Finisar Corporation (NASDAQ:FNSR)

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