Quotient Investors LLC held its stake in shares of Finisar Corporation (NASDAQ:FNSR) during the second quarter, Holdings Channel reports. The firm owned 54,400 shares of the technology company’s stock at the end of the second quarter. Quotient Investors LLC’s holdings in Finisar Corporation were worth $1,487,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. VIEX Capital Advisors LLC bought a new stake in shares of Finisar Corporation during the first quarter worth $2,460,000. Thrivent Financial For Lutherans boosted its stake in shares of Finisar Corporation by 5.5% in the first quarter. Thrivent Financial For Lutherans now owns 450,650 shares of the technology company’s stock worth $12,321,000 after buying an additional 23,310 shares in the last quarter. Quadrature Capital Ltd bought a new stake in shares of Finisar Corporation during the fourth quarter worth $6,364,000. Sei Investments Co. boosted its stake in shares of Finisar Corporation by 57.5% in the first quarter. Sei Investments Co. now owns 199,159 shares of the technology company’s stock worth $5,445,000 after buying an additional 72,686 shares in the last quarter. Finally, Capital Growth Management LP bought a new stake in shares of Finisar Corporation during the first quarter worth $5,195,000.
Shares of Finisar Corporation (FNSR) traded down 0.66% during midday trading on Friday, reaching $27.18. 1,662,881 shares of the company’s stock traded hands. The firm has a market capitalization of $3.03 billion, a P/E ratio of 12.41 and a beta of 1.31. The stock’s 50 day moving average price is $26.53 and its 200 day moving average price is $27.65. Finisar Corporation has a 52-week low of $18.00 and a 52-week high of $36.85.
Finisar Corporation (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, June 15th. The technology company reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $357.50 million for the quarter, compared to analysts’ expectations of $359.65 million. Finisar Corporation had a return on equity of 13.91% and a net margin of 17.20%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share. On average, equities research analysts anticipate that Finisar Corporation will post $2.10 EPS for the current fiscal year.
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A number of equities research analysts recently weighed in on FNSR shares. Jefferies Group LLC restated a “buy” rating and set a $34.00 price objective on shares of Finisar Corporation in a research note on Monday, May 15th. William Blair restated an “outperform” rating on shares of Finisar Corporation in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of Finisar Corporation from a “sell” rating to a “hold” rating in a research note on Friday, March 24th. MKM Partners restated a “buy” rating and set a $32.00 price objective (down from $41.00) on shares of Finisar Corporation in a research note on Friday, April 21st. Finally, ValuEngine cut shares of Finisar Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $37.27.
In related news, EVP Todd Swanson sold 6,183 shares of the firm’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $27.65, for a total value of $170,959.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Stephens sold 3,016 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $27.36, for a total value of $82,517.76. Following the completion of the transaction, the director now owns 28,893 shares in the company, valued at approximately $790,512.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 76,789 shares of company stock worth $2,064,689. 1.34% of the stock is owned by company insiders.
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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