Congress Asset Management Co. MA Acquires 16,775 Shares of Finisar Co. (FNSR)

Congress Asset Management Co. MA boosted its holdings in Finisar Co. (NASDAQ:FNSR) by 12.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 156,033 shares of the technology company’s stock after purchasing an additional 16,775 shares during the quarter. Congress Asset Management Co. MA’s holdings in Finisar were worth $2,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bank of New York Mellon Corp lifted its position in shares of Finisar by 102.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 4,936,130 shares of the technology company’s stock worth $88,850,000 after buying an additional 2,496,574 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Finisar by 17.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,915,553 shares of the technology company’s stock worth $160,479,000 after buying an additional 1,328,867 shares in the last quarter. DnB Asset Management AS lifted its position in shares of Finisar by 16.5% during the 2nd quarter. DnB Asset Management AS now owns 6,826,104 shares of the technology company’s stock worth $122,870,000 after buying an additional 964,507 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Finisar by 4,319.7% during the 1st quarter. Principal Financial Group Inc. now owns 890,383 shares of the technology company’s stock worth $14,077,000 after buying an additional 870,237 shares in the last quarter. Finally, Glenmede Trust Co. NA lifted its position in shares of Finisar by 87.4% during the 2nd quarter. Glenmede Trust Co. NA now owns 1,547,161 shares of the technology company’s stock worth $27,848,000 after buying an additional 721,583 shares in the last quarter.

In related news, Director Jerry S. Rawls sold 30,208 shares of Finisar stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $16.99, for a total value of $513,233.92. Following the completion of the transaction, the director now directly owns 553,466 shares in the company, valued at approximately $9,403,387.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry S. Rawls sold 40,000 shares of Finisar stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $19.24, for a total transaction of $769,600.00. Following the completion of the transaction, the director now owns 483,258 shares of the company’s stock, valued at $9,297,883.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,208 shares of company stock valued at $2,090,154. 1.11% of the stock is currently owned by company insiders.

FNSR has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Finisar from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Stifel Nicolaus initiated coverage on shares of Finisar in a research report on Monday, October 22nd. They set a “hold” rating and a $21.00 target price on the stock. B. Riley dropped their target price on shares of Finisar from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 4th. Morgan Stanley cut shares of Finisar from an “overweight” rating to an “equal weight” rating and set a $20.00 target price on the stock. in a research report on Thursday, September 13th. Finally, Barclays reissued a “hold” rating and set a $24.00 target price on shares of Finisar in a research report on Sunday, September 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Finisar has an average rating of “Hold” and a consensus target price of $23.79.

Shares of FNSR stock opened at $16.00 on Tuesday. The company has a quick ratio of 2.98, a current ratio of 3.65 and a debt-to-equity ratio of 0.31. Finisar Co. has a 12-month low of $14.25 and a 12-month high of $25.41. The company has a market cap of $1.91 billion, a PE ratio of 90.67, a P/E/G ratio of 2.82 and a beta of 1.36.

Finisar (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, September 6th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.06. Finisar had a negative net margin of 6.71% and a positive return on equity of 1.24%. The company had revenue of $317.30 million during the quarter, compared to analyst estimates of $315.77 million. During the same quarter last year, the business posted $0.40 EPS. Finisar’s quarterly revenue was down 7.2% compared to the same quarter last year. Equities analysts forecast that Finisar Co. will post 0.47 earnings per share for the current fiscal year.

Finisar Profile

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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Institutional Ownership by Quarter for Finisar (NASDAQ:FNSR)

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