Mutual of America Capital Management LLC acquired a new position in Finisar Co. (NASDAQ:FNSR) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 58,008 shares of the technology company’s stock, valued at approximately $1,180,000. Mutual of America Capital Management LLC owned approximately 0.05% of Finisar as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in FNSR. Pinnacle Associates Ltd. bought a new stake in shares of Finisar in the third quarter worth $28,033,000. Dimensional Fund Advisors LP raised its position in Finisar by 10.8% during the third quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock worth $107,146,000 after acquiring an additional 471,882 shares in the last quarter. Formula Growth Ltd. raised its position in Finisar by 130.6% during the third quarter. Formula Growth Ltd. now owns 830,000 shares of the technology company’s stock worth $18,401,000 after acquiring an additional 470,000 shares in the last quarter. SG Capital Management LLC bought a new stake in Finisar during the third quarter worth $9,713,000. Finally, DnB Asset Management AS raised its position in Finisar by 22.9% during the fourth quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock worth $45,758,000 after acquiring an additional 419,120 shares in the last quarter. 88.49% of the stock is currently owned by institutional investors and hedge funds.
In other Finisar news, EVP John H. Clark sold 6,186 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total value of $154,031.40. Following the transaction, the executive vice president now directly owns 146,053 shares in the company, valued at $3,636,719.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mark Colyar sold 1,692 shares of the company’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $22.15, for a total transaction of $37,477.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,578 shares of company stock worth $1,273,865. Corporate insiders own 1.02% of the company’s stock.
FNSR has been the topic of several analyst reports. TheStreet lowered shares of Finisar from a “b” rating to a “c+” rating in a research report on Thursday, November 2nd. Zacks Investment Research lowered shares of Finisar from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. Jefferies Group initiated coverage on shares of Finisar in a research report on Wednesday, November 1st. They set a “buy” rating and a $28.50 price target on the stock. Piper Jaffray Companies upped their price target on shares of Finisar from $22.00 to $28.00 in a research report on Wednesday, December 13th. Finally, ValuEngine raised shares of Finisar from a “hold” rating to a “buy” rating in a research report on Thursday, January 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Finisar presently has a consensus rating of “Hold” and an average price target of $27.27.
Finisar Co. (NASDAQ FNSR) opened at $18.20 on Friday. Finisar Co. has a fifty-two week low of $16.64 and a fifty-two week high of $35.75. The company has a market cap of $2,080.00, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 1.91 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31.
Finisar (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, December 7th. The technology company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The firm had revenue of $332.21 million for the quarter, compared to the consensus estimate of $331.69 million. equities research analysts predict that Finisar Co. will post 0.66 EPS for the current year.
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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.
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