Thompson Siegel & Walmsley LLC cut its stake in Finisar (NASDAQ:FNSR) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 971,069 shares of the technology company’s stock after selling 43,751 shares during the quarter. Thompson Siegel & Walmsley LLC’s holdings in Finisar were worth $15,353,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. First Mercantile Trust Co. bought a new position in shares of Finisar in the fourth quarter valued at about $158,000. Victory Capital Management Inc. raised its position in shares of Finisar by 66.2% in the first quarter. Victory Capital Management Inc. now owns 7,763 shares of the technology company’s stock valued at $123,000 after purchasing an additional 3,091 shares during the period. Aperio Group LLC bought a new position in shares of Finisar in the fourth quarter valued at about $231,000. Xact Kapitalforvaltning AB bought a new position in shares of Finisar in the fourth quarter valued at about $263,000. Finally, Balter Liquid Alternatives LLC bought a new position in shares of Finisar in the first quarter valued at about $208,000. 96.24% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of Finisar from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 9th. B. Riley reissued a “buy” rating and issued a $17.50 price objective (down from $18.00) on shares of Finisar in a research report on Friday, March 9th. DA Davidson reissued a “buy” rating and issued a $22.00 price objective (down from $24.00) on shares of Finisar in a research report on Friday, March 9th. Morgan Stanley began coverage on shares of Finisar in a research report on Friday, March 9th. They set an “equal weight” rating and a $21.00 price target on the stock. Finally, Needham & Company LLC lowered shares of Finisar from a “buy” rating to a “hold” rating and raised their price target for the stock from $16.64 to $29.41 in a research report on Friday, March 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.56.
Shares of Finisar opened at $16.88 on Thursday, Marketbeat Ratings reports. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 1.92 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.24 and a current ratio of 4.06. Finisar has a 12-month low of $16.66 and a 12-month high of $16.81.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, March 8th. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $332.40 million for the quarter, compared to analyst estimates of $333.15 million. Finisar had a return on equity of 5.97% and a net margin of 7.35%. The company’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. analysts predict that Finisar will post 0.47 EPS for the current fiscal year.
In other Finisar news, Director Jerry S. Rawls sold 30,208 shares of the stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $15.59, for a total transaction of $470,942.72. Following the sale, the director now directly owns 593,466 shares in the company, valued at $9,252,134.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roger C. Ferguson sold 3,000 shares of the stock in a transaction dated Thursday, March 22nd. The stock was sold at an average price of $17.30, for a total transaction of $51,900.00. Following the sale, the director now owns 28,784 shares in the company, valued at $497,963.20. The disclosure for this sale can be found here. Insiders have sold 71,208 shares of company stock worth $1,091,323 over the last quarter. Corporate insiders own 1.02% of the company’s stock.
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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