FMR LLC cut its stake in shares of Finisar Co. (NASDAQ:FNSR) by 21.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,294,974 shares of the technology company’s stock after selling 353,896 shares during the period. FMR LLC owned 1.17% of Finisar worth $39,199,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. FNY Managed Accounts LLC acquired a new position in Finisar during the third quarter worth approximately $179,000. Parametrica Management Ltd acquired a new stake in Finisar during the third quarter worth $224,000. B. Riley Financial Inc. purchased a new position in shares of Finisar during the third quarter valued at approximately $229,000. US Bancorp DE increased its position in shares of Finisar by 288.5% in the third quarter. US Bancorp DE now owns 8,023 shares of the technology company’s stock valued at $239,000 after buying an additional 5,958 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Finisar during the third quarter valued at approximately $274,000. Institutional investors own 91.70% of the company’s stock.
Finisar Co. (NASDAQ:FNSR) traded up 3.16% on Friday, reaching $22.55. 5,335,785 shares of the company traded hands. The stock’s 50-day moving average is $27.54 and its 200-day moving average is $30.08. Finisar Co. has a 1-year low of $15.21 and a 1-year high of $36.85. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 19.19 and a beta of 1.30.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, March 9th. The technology company reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company earned $380.60 million during the quarter, compared to analysts’ expectations of $389.69 million. Finisar had a net margin of 7.31% and a return on equity of 10.56%. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share. Equities research analysts expect that Finisar Co. will post $2.07 EPS for the current year.
ILLEGAL ACTIVITY NOTICE: This piece was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://sportsperspectives.com/2017/04/21/fmr-llc-cuts-stake-in-finisar-co-fnsr-updated-updated.html.
Several research analysts have commented on FNSR shares. Zacks Investment Research downgraded shares of Finisar from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, February 8th. B. Riley reaffirmed a “buy” rating on shares of Finisar in a research note on Thursday, January 5th. Jefferies Group LLC reaffirmed a “hold” rating and set a $32.00 target price (down previously from $37.00) on shares of Finisar in a research note on Saturday, March 11th. Citigroup Inc raised shares of Finisar to a “strong-buy” rating and set a $40.00 price objective on the stock in a research note on Monday, March 13th. Finally, Raymond James Financial, Inc. raised shares of Finisar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Monday, March 13th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $38.52.
In other Finisar news, EVP Todd Swanson sold 6,183 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $24.13, for a total transaction of $149,195.79. Following the completion of the transaction, the executive vice president now directly owns 229,219 shares of the company’s stock, valued at approximately $5,531,054.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger C. Ferguson sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $27.03, for a total transaction of $148,665.00. Following the transaction, the director now directly owns 39,828 shares of the company’s stock, valued at $1,076,550.84. The disclosure for this sale can be found here. Insiders have sold a total of 113,193 shares of company stock valued at $3,580,058 over the last three months. 1.34% of the stock is currently owned by insiders.
Finisar 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.
Receive News & Ratings for Finisar Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar Co. and related companies with MarketBeat.com's FREE daily email newsletter.