California Public Employees Retirement System lifted its stake in shares of Finisar (NASDAQ:FNSR) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 194,400 shares of the technology company’s stock after acquiring an additional 6,800 shares during the period. California Public Employees Retirement System owned 0.17% of Finisar worth $3,956,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Pinnacle Associates Ltd. purchased a new position in Finisar during the third quarter worth about $28,033,000. Dimensional Fund Advisors LP raised its holdings in shares of 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 purchasing an additional 471,882 shares during the period. Formula Growth Ltd. raised its holdings in shares of Finisar by 130.6% in the 3rd quarter. Formula Growth Ltd. now owns 830,000 shares of the technology company’s stock worth $18,401,000 after purchasing an additional 470,000 shares during the period. SG Capital Management LLC purchased a new position in shares of Finisar in the 3rd quarter worth about $9,713,000. Finally, DnB Asset Management AS raised its holdings in shares of Finisar by 22.9% in the 4th quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock worth $45,758,000 after purchasing an additional 419,120 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.
In other Finisar news, Director Roger C. Ferguson sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 22nd. The stock was sold at an average price of $17.30, for a total value of $51,900.00. Following the completion of the transaction, the director now owns 28,784 shares of the company’s stock, valued at approximately $497,963.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jerry S. Rawls sold 30,209 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total value of $541,949.46. The disclosure for this sale can be found here. Insiders have sold a total of 71,209 shares of company stock valued at $1,162,329 in the last three months. 1.02% of the stock is owned by insiders.
Several equities research analysts recently commented on the company. Piper Jaffray restated a “buy” rating and set a $22.00 price objective on shares of Finisar in a research note on Friday, December 8th. B. Riley lowered their price objective on Finisar from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Friday, December 8th. William Blair reiterated a “buy” rating on shares of Finisar in a research report on Friday, December 8th. Northland Securities set a $29.00 target price on Finisar and gave the stock a “buy” rating in a research report on Friday, December 8th. Finally, BidaskClub upgraded Finisar from a “strong sell” rating to a “sell” rating in a research report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $24.56.
NASDAQ FNSR traded down $0.29 on Friday, reaching $15.33. The stock had a trading volume of 4,544,331 shares, compared to its average volume of 6,042,822. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.06 and a quick ratio of 3.24. Finisar has a 1 year low of $14.25 and a 1 year high of $28.99. The company has a market capitalization of $1,791.53, a P/E ratio of 8.86, a price-to-earnings-growth ratio of 2.37 and a beta of 1.17.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, March 8th. The technology company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). Finisar had a return on equity of 5.97% and a net margin of 7.35%. The company had revenue of $332.40 million during the quarter, compared to analyst estimates of $333.15 million. During the same period in the prior year, the firm earned $0.59 EPS. Finisar’s quarterly revenue was down 12.7% on a year-over-year basis. equities analysts anticipate that Finisar will post 0.47 EPS for the current year.
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Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical, or optoelectronic interface for interconnecting the electronic equipment used in networks comprising switches, routers, and servers used in wireline networks, as well as antennas and base stations used in wireless networks.
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