California Public Employees Retirement System lessened its stake in Finisar Co. (NASDAQ:FNSR) by 7.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,600 shares of the technology company’s stock after selling 15,200 shares during the period. California Public Employees Retirement System’s holdings in Finisar were worth $4,159,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Capital Research Global Investors increased its stake in Finisar by 2.7% in the 2nd quarter. Capital Research Global Investors now owns 13,651,050 shares of the technology company’s stock worth $354,654,000 after buying an additional 359,709 shares during the period. Vanguard Group Inc. increased its stake in Finisar by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock worth $231,435,000 after buying an additional 208,692 shares during the period. Dimensional Fund Advisors LP increased its stake in Finisar by 10.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock worth $107,146,000 after buying an additional 471,882 shares during the period. Northern Trust Corp increased its stake in Finisar by 3.8% in the 2nd quarter. Northern Trust Corp now owns 2,907,058 shares of the technology company’s stock worth $75,525,000 after buying an additional 107,680 shares during the period. Finally, State Street Corp increased its stake in Finisar by 5.9% in the 2nd quarter. State Street Corp now owns 2,199,440 shares of the technology company’s stock worth $57,141,000 after buying an additional 121,724 shares during the period. 91.21% of the stock is currently owned by institutional investors.
Several research analysts recently commented on FNSR shares. William Blair reaffirmed an “outperform” rating on shares of Finisar in a research note on Thursday, September 14th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $26.00 price target on shares of Finisar in a research note on Sunday, September 17th. Jefferies Group assumed coverage on shares of Finisar in a report on Wednesday, November 1st. They set a “buy” rating and a $28.50 target price on the stock. TheStreet cut shares of Finisar from a “b” rating to a “c+” rating in a report on Thursday, November 2nd. Finally, Goldman Sachs Group cut shares of Finisar from a “buy” rating to a “neutral” rating in a report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Finisar currently has a consensus rating of “Buy” and a consensus target price of $28.35.
Finisar (NASDAQ:FNSR) last released its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The business had revenue of $332.21 million for the quarter, compared to analysts’ expectations of $331.69 million. sell-side analysts predict that Finisar Co. will post 0.73 earnings per share for the current fiscal year.
In related news, Director Roger C. Ferguson sold 3,000 shares of Finisar stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $21.68, for a total value of $65,040.00. Following the completion of the sale, the director now directly owns 41,034 shares in the company, valued at approximately $889,617.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kurt Adzema sold 20,025 shares of Finisar stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $22.15, for a total transaction of $443,553.75. The disclosure for this sale can be found here. Insiders sold a total of 52,369 shares of company stock worth $1,189,715 over the last 90 days. Company insiders own 1.02% of the company’s stock.
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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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