Finisar Corporation (FNSR) Shares Bought by Sei Investments Co.

Sei Investments Co. increased its stake in Finisar Corporation (NASDAQ:FNSR) by 15.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 230,211 shares of the technology company’s stock after buying an additional 31,052 shares during the period. Sei Investments Co.’s holdings in Finisar Corporation were worth $5,980,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Finisar Corporation by 4.7% in the first quarter. Vanguard Group Inc. now owns 8,699,545 shares of the technology company’s stock valued at $237,845,000 after buying an additional 387,949 shares during the period. Renaissance Technologies LLC increased its position in shares of Finisar Corporation by 3.0% in the first quarter. Renaissance Technologies LLC now owns 4,287,000 shares of the technology company’s stock valued at $117,207,000 after buying an additional 126,400 shares during the period. Ameriprise Financial Inc. increased its position in shares of Finisar Corporation by 36.3% in the first quarter. Ameriprise Financial Inc. now owns 3,180,178 shares of the technology company’s stock valued at $86,945,000 after buying an additional 846,559 shares during the period. Wellington Management Group LLP increased its position in shares of Finisar Corporation by 302.4% in the first quarter. Wellington Management Group LLP now owns 2,828,356 shares of the technology company’s stock valued at $77,327,000 after buying an additional 2,125,445 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Finisar Corporation by 27.0% in the first quarter. Wells Fargo & Company MN now owns 2,329,912 shares of the technology company’s stock valued at $63,701,000 after buying an additional 495,132 shares during the period. Institutional investors own 97.45% of the company’s stock.

Shares of Finisar Corporation (NASDAQ FNSR) opened at 23.76 on Wednesday. Finisar Corporation has a 52 week low of $20.05 and a 52 week high of $36.85. The company has a market cap of $2.65 billion, a PE ratio of 10.85 and a beta of 1.32. The company has a 50 day moving average of $26.32 and a 200 day moving average of $27.20.

Finisar Corporation (NASDAQ:FNSR) last issued its earnings results on Thursday, June 15th. The technology company reported $0.50 EPS for the quarter, hitting analysts’ consensus estimates of $0.50. The company had revenue of $357.50 million for the quarter, compared to analysts’ expectations of $359.65 million. Finisar Corporation had a net margin of 17.20% and a return on equity of 13.91%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. On average, analysts expect that Finisar Corporation will post $2.10 EPS for the current year.

Several research analysts have recently issued reports on FNSR shares. Northland Securities reiterated a “buy” rating and set a $40.00 price target on shares of Finisar Corporation in a report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and set a $33.00 price target on shares of Finisar Corporation in a report on Saturday, July 22nd. Jefferies Group LLC reiterated a “buy” rating and set a $34.00 price target on shares of Finisar Corporation in a report on Friday, May 5th. B. Riley reiterated a “buy” rating and set a $38.00 price target on shares of Finisar Corporation in a report on Tuesday, June 13th. Finally, BidaskClub downgraded shares of Finisar Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Finisar Corporation presently has a consensus rating of “Buy” and a consensus target price of $36.84.

In other Finisar Corporation news, EVP Todd Swanson sold 6,183 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were 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 available at this hyperlink. Also, Chairman Jerry S. Rawls sold 25,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $25.93, for a total transaction of $648,250.00. Following the completion of the transaction, the chairman now owns 815,188 shares in the company, valued at approximately $21,137,824.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,789 shares of company stock worth $2,754,189. 1.02% of the stock is owned by corporate 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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