Strs Ohio cut its holdings in Finisar Corporation (NASDAQ:FNSR) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,300 shares of the technology company’s stock after selling 4,800 shares during the period. Strs Ohio owned about 0.18% of Finisar Corporation worth $4,595,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. State Street Corp raised its stake in Finisar Corporation by 3.6% in the first quarter. State Street Corp now owns 2,077,716 shares of the technology company’s stock valued at $56,802,000 after buying an additional 71,736 shares in the last quarter. Taylor Asset Management Inc. raised its stake in Finisar Corporation by 13.2% in the second quarter. Taylor Asset Management Inc. now owns 1,044,300 shares of the technology company’s stock valued at $27,131,000 after buying an additional 121,800 shares in the last quarter. Symphony Asset Management LLC raised its stake in Finisar Corporation by 86.6% in the second quarter. Symphony Asset Management LLC now owns 118,500 shares of the technology company’s stock valued at $3,079,000 after buying an additional 55,000 shares in the last quarter. Voya Investment Management LLC raised its stake in Finisar Corporation by 12.9% in the second quarter. Voya Investment Management LLC now owns 51,499 shares of the technology company’s stock valued at $1,338,000 after buying an additional 5,883 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in Finisar Corporation in the first quarter valued at $314,000. Institutional investors own 87.67% of the company’s stock.
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FNSR has been the topic of a number of analyst reports. Zacks Investment Research cut Finisar Corporation from a “hold” rating to a “sell” rating in a research note on Monday, September 4th. Northland Securities set a $40.00 price target on Finisar Corporation and gave the company a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies restated a “buy” rating and issued a $30.00 price target (down from $32.00) on shares of Finisar Corporation in a research note on Tuesday, September 5th. BidaskClub cut Finisar Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine cut Finisar Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $32.60.
Finisar Corporation (NASDAQ:FNSR) opened at 23.27 on Tuesday. The company’s 50 day moving average price is $22.12 and its 200-day moving average price is $24.32. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 10.95 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 released its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 earnings per share for the quarter, hitting the consensus estimate of $0.40. The firm had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. Finisar Corporation’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, analysts forecast that Finisar Corporation will post $1.47 EPS for the current year.
In related news, Director Roger C. Ferguson sold 2,726 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $21.46, for a total transaction of $58,499.96. Following the sale, the director now owns 44,034 shares in the company, valued at $944,969.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Todd Swanson sold 6,202 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $24.34, for a total transaction of $150,956.68. Following the sale, the executive vice president now owns 217,005 shares in the company, valued at approximately $5,281,901.70. The disclosure for this sale can be found here. 1.02% of the stock is owned by corporate insiders.
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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