Candriam Luxembourg S.C.A. boosted its holdings in Finisar Corporation (NASDAQ:FNSR) by 26.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 192,099 shares of the technology company’s stock after purchasing an additional 40,008 shares during the period. Candriam Luxembourg S.C.A. owned about 0.17% of Finisar Corporation worth $4,259,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of FNSR. Pitcairn Co. raised its stake in Finisar Corporation by 26.9% during the third quarter. Pitcairn Co. now owns 18,376 shares of the technology company’s stock valued at $408,000 after buying an additional 3,897 shares in the last quarter. Principal Financial Group Inc. raised its stake in Finisar Corporation by 37.3% during the third quarter. Principal Financial Group Inc. now owns 20,102 shares of the technology company’s stock valued at $446,000 after buying an additional 5,456 shares in the last quarter. Stoneridge Investment Partners LLC acquired a new stake in Finisar Corporation during the third quarter valued at approximately $328,000. USA Financial Portformulas Corp acquired a new stake in Finisar Corporation during the third quarter valued at approximately $338,000. Finally, American Century Companies Inc. raised its stake in Finisar Corporation by 3.2% during the third quarter. American Century Companies Inc. now owns 280,193 shares of the technology company’s stock valued at $6,212,000 after buying an additional 8,582 shares in the last quarter. 88.14% of the stock is owned by hedge funds and other institutional investors.
Shares of Finisar Corporation (FNSR) opened at $19.02 on Tuesday. Finisar Corporation has a 1 year low of $18.10 and a 1 year high of $36.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.66 and a quick ratio of 6.24. The company has a market capitalization of $2,170.00, a P/E ratio of 11.35, a P/E/G ratio of 1.31 and a beta of 1.19.
Finisar Corporation (NASDAQ:FNSR) last posted its earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, meeting the consensus estimate of $0.40. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The firm had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $341.22 million. During the same period last year, the firm earned $0.38 EPS. The firm’s revenue was up .1% compared to the same quarter last year. equities analysts anticipate that Finisar Corporation will post 1.05 earnings per share for the current year.
In related news, Chairman Jerry S. Rawls sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $22.89, for a total value of $457,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roger C. Ferguson sold 2,726 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $21.46, for a total value of $58,499.96. Following the completion of the sale, the director now owns 44,034 shares in the company, valued at $944,969.64. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
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Several analysts have issued reports on the company. B. Riley restated a “buy” rating and set a $30.75 price objective on shares of Finisar Corporation in a research note on Tuesday, September 12th. TheStreet cut Finisar Corporation from a “b” rating to a “c+” rating in a research note on Thursday, November 2nd. Goldman Sachs Group, Inc. (The) cut Finisar Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, November 6th. Zacks Investment Research upgraded Finisar Corporation from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, Jefferies Group LLC assumed coverage on Finisar Corporation in a research note on Wednesday, November 1st. They set a “buy” rating and a $28.50 price objective on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $32.60.
Finisar Corporation 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.
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