Insider Selling: Finisar Co. (FNSR) EVP Sells 5,451 Shares of Stock

Finisar Co. (NASDAQ:FNSR) EVP Julie Sheridan Eng sold 5,451 shares of the company’s stock in a transaction on Tuesday, June 26th. The shares were sold at an average price of $17.08, for a total value of $93,103.08. Following the completion of the transaction, the executive vice president now directly owns 89,364 shares in the company, valued at approximately $1,526,337.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Julie Sheridan Eng also recently made the following trade(s):

  • On Friday, June 22nd, Julie Sheridan Eng sold 8,374 shares of Finisar stock. The shares were sold at an average price of $17.27, for a total value of $144,618.98.

Shares of Finisar opened at $16.74 on Thursday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.00 and a quick ratio of 3.24. The firm has a market cap of $2.00 billion, a P/E ratio of 52.31, a P/E/G ratio of 2.51 and a beta of 1.19. Finisar Co. has a 1-year low of $14.25 and a 1-year high of $28.84.

Finisar (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, June 14th. The technology company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). The company had revenue of $310.07 million for the quarter, compared to analysts’ expectations of $309.93 million. Finisar had a positive return on equity of 2.74% and a negative net margin of 3.67%. The company’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 earnings per share. equities analysts forecast that Finisar Co. will post 0.5 EPS for the current fiscal year.

Several equities analysts have commented on FNSR shares. B. Riley cut their price objective on Finisar from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 1st. UBS Group downgraded Finisar from a “strong-buy” rating to an “outperform” rating in a research report on Monday, March 5th. William Blair reaffirmed a “buy” rating on shares of Finisar in a research report on Monday, March 5th. Raymond James reiterated an “outperform” rating on shares of Finisar in a report on Monday, March 5th. Finally, BidaskClub upgraded Finisar from a “strong sell” rating to a “sell” rating in a report on Wednesday, March 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. Finisar currently has a consensus rating of “Hold” and an average target price of $24.83.

Several hedge funds and other institutional investors have recently modified their holdings of FNSR. Aperio Group LLC purchased a new stake in shares of Finisar during the 4th quarter worth $231,000. Teacher Retirement System of Texas lifted its stake in shares of Finisar by 315.1% during the 4th quarter. Teacher Retirement System of Texas now owns 38,160 shares of the technology company’s stock worth $777,000 after purchasing an additional 28,967 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Finisar by 3.6% during the 4th quarter. California Public Employees Retirement System now owns 194,400 shares of the technology company’s stock worth $3,956,000 after purchasing an additional 6,800 shares during the last quarter. Swiss National Bank lifted its stake in shares of Finisar by 5.2% during the 4th quarter. Swiss National Bank now owns 194,000 shares of the technology company’s stock worth $3,948,000 after purchasing an additional 9,600 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Finisar by 21.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 240,082 shares of the technology company’s stock worth $4,886,000 after purchasing an additional 42,685 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.

About Finisar

Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies 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 wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.

Insider Buying and Selling by Quarter for Finisar (NASDAQ:FNSR)

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