New Jersey Better Educational Savings Trust purchased a new stake in shares of Finisar Corporation (NASDAQ:FNSR) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,000 shares of the technology company’s stock, valued at approximately $355,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of FNSR. State Street Corp boosted its holdings in shares of Finisar Corporation by 3.6% during the first quarter. State Street Corp now owns 2,077,716 shares of the technology company’s stock worth $56,802,000 after purchasing an additional 71,736 shares during the period. Voya Investment Management LLC increased its position in shares of Finisar Corporation by 12.9% during the second quarter. Voya Investment Management LLC now owns 51,499 shares of the technology company’s stock valued at $1,338,000 after acquiring an additional 5,883 shares in the last quarter. Taylor Asset Management Inc. increased its position in shares of Finisar Corporation by 13.2% during 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 acquiring an additional 121,800 shares in the last quarter. Symphony Asset Management LLC grew its position in Finisar Corporation by 86.6% in the 2nd quarter. Symphony Asset Management LLC now owns 118,500 shares of the technology company’s stock worth $3,079,000 after purchasing an additional 55,000 shares during the period. Finally, Endurance Wealth Management Inc. grew its position in Finisar Corporation by 506.1% in the 3rd quarter. Endurance Wealth Management Inc. now owns 279,184 shares of the technology company’s stock worth $6,190,000 after purchasing an additional 233,125 shares during the period. Institutional investors and hedge funds own 88.14% of the company’s stock.
A number of analysts have issued reports on FNSR shares. Needham & Company LLC reiterated a “strong-buy” rating and issued a $34.00 price target (down from $44.00) on shares of Finisar Corporation in a report on Friday, September 8th. William Blair restated an “ourperform” rating on shares of Finisar Corporation in a report on Thursday, September 7th. Northland Securities set a $40.00 target price on shares of Finisar Corporation and gave the stock a “buy” rating in a report on Tuesday, August 29th. Stifel Nicolaus reissued a “buy” rating and issued a $30.00 price objective (down from $33.00) on shares of Finisar Corporation in a research report on Tuesday, September 5th. Finally, B. Riley reaffirmed a “buy” rating and issued a $38.00 price target on shares of Finisar Corporation in a research report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and three have assigned a strong buy rating to the stock. Finisar Corporation has an average rating of “Buy” and a consensus price target of $32.60.
Shares of Finisar Corporation (NASDAQ:FNSR) traded up $0.06 during midday trading on Tuesday, reaching $19.02. 2,084,300 shares of the company were exchanged, compared to its average volume of 3,408,995. Finisar Corporation has a 12-month low of $18.10 and a 12-month high of $36.85. The stock has a market capitalization of $2,150.00, a P/E ratio of 11.35, a PEG ratio of 1.31 and a beta of 1.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.66 and a quick ratio of 6.24.
Finisar Corporation (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The business had revenue of $341.80 million for the quarter, compared to the consensus estimate of $341.22 million. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The company’s revenue was up .1% compared to the same quarter last year. During the same period last year, the firm posted $0.38 earnings per share. equities analysts predict that Finisar Corporation will post 1.05 earnings per share for the current fiscal year.
In other Finisar Corporation news, Director Roger C. Ferguson sold 2,726 shares of Finisar Corporation 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 completion of the sale, the director now directly owns 44,034 shares in the company, valued at $944,969.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Jerry S. Rawls sold 20,000 shares of Finisar Corporation stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total transaction of $457,800.00. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.
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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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