US Bancorp DE reduced its position in shares of Finisar Co. (NASDAQ:FNSR) by 1.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 25,931 shares of the technology company’s stock after selling 494 shares during the quarter. US Bancorp DE’s holdings in Finisar were worth $600,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FNSR. Investors Research Corp bought a new position in shares of Finisar during the 1st quarter worth about $37,000. Bessemer Group Inc. bought a new position in shares of Finisar in the 4th quarter valued at about $43,000. Oregon Public Employees Retirement Fund bought a new position in shares of Finisar in the 4th quarter valued at about $45,000. Versant Capital Management Inc boosted its stake in Finisar by 117.2% during the 1st quarter. Versant Capital Management Inc now owns 2,604 shares of the technology company’s stock worth $60,000 after acquiring an additional 1,405 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Finisar by 57.3% during the 4th quarter. Bank of Montreal Can now owns 3,535 shares of the technology company’s stock worth $76,000 after acquiring an additional 1,288 shares during the last quarter. 96.61% of the stock is owned by institutional investors and hedge funds.
FNSR has been the topic of a number of recent research reports. BidaskClub downgraded shares of Finisar from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. Zacks Investment Research downgraded shares of Finisar from a “hold” rating to a “strong sell” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $25.29.
Shares of FNSR traded up $0.19 on Wednesday, reaching $22.16. 58,357 shares of the company’s stock traded hands, compared to its average volume of 1,543,140. The company has a current ratio of 6.79, a quick ratio of 5.43 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of 69.25, a PEG ratio of 2.00 and a beta of 1.47. Finisar Co. has a 52-week low of $15.81 and a 52-week high of $24.77.
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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.
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