New York State Common Retirement Fund Has $7.24 Million Position in Finisar Corporation (FNSR)

New York State Common Retirement Fund lifted its holdings in Finisar Corporation (NASDAQ:FNSR) by 153.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 326,585 shares of the technology company’s stock after purchasing an additional 197,713 shares during the period. New York State Common Retirement Fund owned 0.29% of Finisar worth $7,240,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its stake in shares of Finisar by 1.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,890 shares of the technology company’s stock valued at $231,000 after purchasing an additional 136 shares during the last quarter. Virginia Retirement Systems ET AL lifted its position in Finisar by 0.3% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 91,600 shares of the technology company’s stock worth $2,380,000 after acquiring an additional 300 shares during the last quarter. Amalgamated Bank lifted its position in Finisar by 2.9% during the 2nd quarter. Amalgamated Bank now owns 13,912 shares of the technology company’s stock worth $361,000 after acquiring an additional 396 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Finisar by 5.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,795 shares of the technology company’s stock worth $254,000 after acquiring an additional 507 shares during the last quarter. Finally, UBS Asset Management Americas Inc. lifted its position in Finisar by 1.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 61,782 shares of the technology company’s stock worth $1,605,000 after acquiring an additional 684 shares during the last quarter. 91.21% of the stock is owned by institutional investors and hedge funds.

FNSR has been the subject of a number of research analyst reports. Piper Jaffray Companies boosted their target price on shares of Finisar from $22.00 to $28.00 in a research report on Wednesday, December 13th. B. Riley reissued a “buy” rating and set a $38.00 target price on shares of Finisar in a research report on Wednesday, September 6th. Stifel Nicolaus reissued a “buy” rating and set a $30.00 target price (down previously from $33.00) on shares of Finisar in a research report on Tuesday, September 5th. Craig Hallum reissued a “buy” rating and set a $28.00 target price (down previously from $38.00) on shares of Finisar in a research report on Friday, September 8th. Finally, DA Davidson reissued a “buy” rating and set a $40.00 target price on shares of Finisar in a research report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.08.

In related news, CFO Kurt Adzema sold 20,025 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $22.15, for a total value of $443,553.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Julie Sheridan Eng sold 1,466 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $21.70, for a total transaction of $31,812.20. Following the completion of the sale, the executive vice president now directly owns 69,150 shares in the company, valued at approximately $1,500,555. The disclosure for this sale can be found here. Insiders have sold 49,369 shares of company stock valued at $1,124,675 in the last ninety days. 1.02% of the stock is owned by company insiders.

Finisar Corporation (FNSR) opened at $21.39 on Friday. The company has a market cap of $2,518.79, a PE ratio of 12.22, a PEG ratio of 2.17 and a beta of 1.14. The company has a current ratio of 7.81, a quick ratio of 6.31 and a debt-to-equity ratio of 0.44. Finisar Corporation has a 52-week low of $17.20 and a 52-week high of $36.41.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. The business had revenue of $332.21 million during the quarter, compared to analyst estimates of $331.69 million. Finisar had a net margin of 14.33% and a return on equity of 9.51%. sell-side analysts forecast that Finisar Corporation will post 0.73 EPS for the current fiscal year.

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

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