Virtu Financial LLC bought a new stake in Finisar Co. (NASDAQ:FNSR) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 22,559 shares of the technology company’s stock, valued at approximately $459,000.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Royce & Associates LP increased its position in shares of Finisar by 664.0% during the 4th quarter. Royce & Associates LP now owns 610,400 shares of the technology company’s stock valued at $12,422,000 after purchasing an additional 530,500 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Finisar by 21.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 240,082 shares of the technology company’s stock valued at $4,886,000 after purchasing an additional 42,685 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of Finisar by 10.5% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 212,297 shares of the technology company’s stock worth $4,320,000 after acquiring an additional 20,198 shares in the last quarter. Verity Asset Management Inc. boosted its stake in shares of Finisar by 89.6% during the 4th quarter. Verity Asset Management Inc. now owns 25,150 shares of the technology company’s stock worth $452,000 after acquiring an additional 11,883 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of Finisar by 5.2% during the 4th quarter. Swiss National Bank now owns 194,000 shares of the technology company’s stock worth $3,948,000 after acquiring an additional 9,600 shares in the last quarter. 94.03% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Jerry S. Rawls sold 30,209 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total value of $541,949.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Mark Colyar sold 1,692 shares of the stock in a transaction on Monday, December 18th. The stock was 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. Insiders have sold a total of 56,392 shares of company stock worth $1,119,833 in the last ninety days. 1.02% of the stock is currently owned by insiders.
Several analysts have recently commented on FNSR shares. Raymond James Financial reaffirmed an “outperform” rating on shares of Finisar in a research report on Monday, March 5th. Zacks Investment Research cut Finisar from a “hold” rating to a “sell” rating in a research report on Wednesday, December 13th. ValuEngine upgraded Finisar from a “hold” rating to a “buy” rating in a report on Thursday, January 25th. Piper Jaffray Companies lifted their price objective on Finisar from $22.00 to $28.00 in a research note on Wednesday, December 13th. Finally, Barclays set a $25.00 price target on Finisar and gave the company a “hold” rating in a research note on Thursday, January 11th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $24.56.
Shares of Finisar Co. (NASDAQ FNSR) traded up $0.17 during trading hours on Wednesday, hitting $20.10. 4,417,347 shares of the stock were exchanged, compared to its average volume of 4,345,311. Finisar Co. has a 52 week low of $16.64 and a 52 week high of $29.07. The firm has a market capitalization of $2,330.60, a price-to-earnings ratio of 23.37, a PEG ratio of 2.22 and a beta of 1.02. The company has a current ratio of 4.06, a quick ratio of 3.24 and a debt-to-equity ratio of 0.29.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, March 8th. The technology company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.03). Finisar had a net margin of 7.35% and a return on equity of 5.97%. The company had revenue of $332.40 million during the quarter, compared to the consensus estimate of $333.15 million. During the same period last year, the firm posted $0.59 earnings per share. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. research analysts anticipate that Finisar Co. will post 0.65 earnings per share for the current fiscal year.
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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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