Paradigm Capital Management Inc. NY lifted its stake in Finisar Corporation (NASDAQ:FNSR) by 2.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,095,250 shares of the technology company’s stock after buying an additional 23,600 shares during the quarter. Finisar Corporation comprises 2.1% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 14th biggest holding. Paradigm Capital Management Inc. NY owned 0.96% of Finisar Corporation worth $24,282,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Sei Investments Co. raised its stake in shares of Finisar Corporation by 3.4% in the third quarter. Sei Investments Co. now owns 238,071 shares of the technology company’s stock worth $5,278,000 after buying an additional 7,860 shares during the period. Candriam Luxembourg S.C.A. raised its stake in shares of Finisar Corporation by 26.3% in the third quarter. Candriam Luxembourg S.C.A. now owns 192,099 shares of the technology company’s stock worth $4,259,000 after buying an additional 40,008 shares during the period. Pitcairn Co. raised its stake in shares of Finisar Corporation by 26.9% in the third quarter. Pitcairn Co. now owns 18,376 shares of the technology company’s stock worth $408,000 after buying an additional 3,897 shares during the period. Principal Financial Group Inc. raised its stake in shares of Finisar Corporation by 37.3% in the third quarter. Principal Financial Group Inc. now owns 20,102 shares of the technology company’s stock worth $446,000 after buying an additional 5,456 shares during the period. Finally, Stoneridge Investment Partners LLC bought a new position in shares of Finisar Corporation in the third quarter worth about $328,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently commented on FNSR shares. Zacks Investment Research downgraded 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 objective on Finisar Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 29th. TheStreet downgraded Finisar Corporation from a “b” rating to a “c+” rating in a research note on Thursday, November 2nd. Piper Jaffray Companies reiterated a “buy” rating and set a $30.00 target price (down previously from $32.00) on shares of Finisar Corporation in a research report on Tuesday, September 5th. Finally, BidaskClub cut Finisar Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $32.60.
In related news, Director Roger C. Ferguson sold 2,726 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was 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 of the company’s stock, valued at approximately $944,969.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jerry S. Rawls sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $22.89, for a total value of $457,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,928 shares of company stock valued at $667,257. Company insiders own 1.02% of the company’s stock.
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Shares of Finisar Corporation (NASDAQ:FNSR) traded up $0.68 during trading on Friday, hitting $18.96. The stock had a trading volume of 4,097,200 shares, compared to its average volume of 3,946,810. The stock has a market cap of $2,159.32, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.31 and a beta of 1.19. The company has a current ratio of 7.66, a quick ratio of 6.24 and a debt-to-equity ratio of 0.44. Finisar Corporation has a 12-month low of $18.10 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 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.40. The firm had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $341.22 million. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The company’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. equities analysts expect that Finisar Corporation will post 1.05 EPS for the current year.
Finisar Corporation 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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