California Public Employees Retirement System Grows Holdings in Finisar Corporation (FNSR)

California Public Employees Retirement System grew its position in shares of Finisar Corporation (NASDAQ:FNSR) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 202,800 shares of the technology company’s stock after purchasing an additional 5,200 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Finisar Corporation worth $5,269,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. acquired a new position in Finisar Corporation during the second quarter worth $138,000. PNC Financial Services Group Inc. lifted its stake in Finisar Corporation by 43.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock worth $153,000 after purchasing an additional 1,805 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Finisar Corporation during the second quarter worth $202,000. Thompson Davis & CO. Inc. acquired a new position in Finisar Corporation during the second quarter worth $217,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Finisar Corporation during the first quarter worth $231,000. Institutional investors own 86.32% of the company’s stock.

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Shares of Finisar Corporation (NASDAQ:FNSR) opened at 21.64 on Wednesday. The firm has a market capitalization of $2.46 billion, a PE ratio of 10.18 and a beta of 1.31. The firm has a 50-day moving average price of $22.27 and a 200-day moving average price of $24.56. Finisar Corporation has a 1-year low of $20.16 and a 1-year high of $36.85.

Finisar Corporation (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The firm had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Finisar Corporation will post $1.47 EPS for the current fiscal year.

In other Finisar Corporation news, EVP Todd Swanson sold 6,202 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $24.34, for a total value of $150,956.68. Following the transaction, the executive vice president now owns 217,005 shares in the company, valued at approximately $5,281,901.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jerry S. Rawls sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $27.58, for a total transaction of $689,500.00. Following the completion of the transaction, the chairman now owns 815,188 shares in the company, valued at approximately $22,482,885.04. The disclosure for this sale can be found here. Insiders sold a total of 33,928 shares of company stock worth $898,957 in the last quarter. 1.02% of the stock is currently owned by company insiders.

A number of research firms have commented on FNSR. B. Riley restated a “buy” rating and set a $38.00 price target on shares of Finisar Corporation in a research note on Wednesday, September 6th. Jefferies Group LLC restated a “buy” rating and set a $28.50 price target (down from $34.00) on shares of Finisar Corporation in a research note on Friday, September 8th. William Blair reiterated an “ourperform” rating on shares of Finisar Corporation in a research note on Thursday, September 7th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $34.00 price objective (down from $44.00) on shares of Finisar Corporation in a research note on Friday, September 8th. Finally, DA Davidson assumed coverage on Finisar Corporation in a research note on Thursday, June 29th. They issued a “buy” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. Finisar Corporation presently has a consensus rating of “Buy” and a consensus target price of $32.60.

Finisar Corporation Company Profile

Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication

Other large investors have also recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. acquired a new position in Finisar Corporation during the second quarter worth $138,000. PNC Financial Services Group Inc. lifted its stake in Finisar Corporation by 43.9% during the second quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock worth $153,000 after purchasing an additional 1,805 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new position in Finisar Corporation during the second quarter worth $202,000. Thompson Davis & CO. Inc. acquired a new position in Finisar Corporation during the second quarter worth $217,000. Finally, Oppenheimer & Co. Inc. acquired a new position in Finisar Corporation during the first quarter worth $231,000. Institutional investors own 86.32% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The correct version of this news story can be accessed at https://ledgergazette.com/2017/10/18/california-public-employees-retirement-system-grows-holdings-in-finisar-corporation-fnsr.html.

Shares of Finisar Corporation (NASDAQ:FNSR) opened at 21.64 on Wednesday. The firm has a market capitalization of $2.46 billion, a PE ratio of 10.18 and a beta of 1.31. The firm has a 50-day moving average price of $22.27 and a 200-day moving average price of $24.56. Finisar Corporation has a 1-year low of $20.16 and a 1-year high of $36.85.

Finisar Corporation (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The firm had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. During the same quarter in the previous year, the business posted $0.38 EPS. The firm’s revenue was up .1% compared to the same quarter last year. On average, analysts forecast that Finisar Corporation will post $1.47 EPS for the current fiscal year.

In other Finisar Corporation news, EVP Todd Swanson sold 6,202 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $24.34, for a total value of $150,956.68. Following the transaction, the executive vice president now owns 217,005 shares in the company, valued at approximately $5,281,901.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jerry S. Rawls sold 25,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $27.58, for a total transaction of $689,500.00. Following the completion of the transaction, the chairman now owns 815,188 shares in the company, valued at approximately $22,482,885.04. The disclosure for this sale can be found here. Insiders sold a total of 33,928 shares of company stock worth $898,957 in the last quarter. 1.02% of the stock is currently owned by company insiders.

A number of research firms have commented on FNSR. B. Riley restated a “buy” rating and set a $38.00 price target on shares of Finisar Corporation in a research note on Wednesday, September 6th. Jefferies Group LLC restated a “buy” rating and set a $28.50 price target (down from $34.00) on shares of Finisar Corporation in a research note on Friday, September 8th. William Blair reiterated an “ourperform” rating on shares of Finisar Corporation in a research note on Thursday, September 7th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $34.00 price objective (down from $44.00) on shares of Finisar Corporation in a research note on Friday, September 8th. Finally, DA Davidson assumed coverage on Finisar Corporation in a research note on Thursday, June 29th. They issued a “buy” rating and a $40.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the stock. Finisar Corporation presently has a consensus rating of “Buy” and a consensus target price 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.

Institutional Ownership by Quarter for Finisar Corporation (NASDAQ:FNSR)

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