Phocas Financial Corp. bought a new stake 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. The firm bought 284,260 shares of the technology company’s stock, valued at approximately $5,785,000. Phocas Financial Corp. owned 0.25% of Finisar at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Finisar by 10.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock valued at $107,146,000 after acquiring an additional 471,882 shares during the period. Alliancebernstein L.P. grew its holdings in Finisar by 1,459.2% during the 4th quarter. Alliancebernstein L.P. now owns 3,152,517 shares of the technology company’s stock valued at $64,154,000 after purchasing an additional 2,950,327 shares in the last quarter. DnB Asset Management AS grew its holdings in Finisar by 22.9% during the 4th quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock valued at $45,758,000 after purchasing an additional 419,120 shares in the last quarter. Snow Capital Management LP grew its holdings in Finisar by 20.5% during the 4th quarter. Snow Capital Management LP now owns 2,163,902 shares of the technology company’s stock valued at $44,035,000 after purchasing an additional 368,382 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new stake in Finisar during the 4th quarter valued at $30,515,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.
Finisar stock opened at $17.53 on Thursday. The firm has a market cap of $1,955.55, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 2.58 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 Co. has a fifty-two week low of $16.64 and a fifty-two week high of $29.07.
In other news, Director Jerry S. Rawls sold 30,209 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $17.94, for a total value of $541,949.46. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Roger C. Ferguson sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $21.68, for a total transaction of $65,040.00. Following the completion of the transaction, the director now owns 41,034 shares in the company, valued at $889,617.12. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.
A number of equities research analysts recently weighed in on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and set a $22.00 price target on shares of Finisar in a report on Friday, December 8th. Zacks Investment Research lowered shares of Finisar from a “hold” rating to a “sell” rating in a report on Wednesday, December 13th. William Blair reaffirmed a “buy” rating on shares of Finisar in a report on Monday, March 5th. Needham & Company LLC lowered shares of Finisar from a “strong-buy” rating to a “buy” rating and lowered their price target for the company from $34.00 to $25.00 in a report on Monday, December 4th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Finisar in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $24.56.
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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