Finisar Co. (FNSR) Director Sells $921,200.00 in Stock

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Finisar Co. (NASDAQ:FNSR) Director Jerry S. Rawls sold 40,000 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $23.03, for a total value of $921,200.00. Following the transaction, the director now directly owns 416,171 shares of the company’s stock, valued at approximately $9,584,418.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

FNSR stock opened at $22.49 on Friday. The company has a quick ratio of 2.98, a current ratio of 3.69 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2.70 billion, a PE ratio of 100.04, a P/E/G ratio of 4.11 and a beta of 1.56. Finisar Co. has a 1 year low of $14.25 and a 1 year high of $25.41.

Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Monday, December 3rd. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.16. The business had revenue of $325.42 million during the quarter, compared to analyst estimates of $327.84 million. Finisar had a positive return on equity of 1.52% and a negative net margin of 7.61%. Equities research analysts predict that Finisar Co. will post 0.45 EPS for the current fiscal year.

A number of brokerages have commented on FNSR. BidaskClub raised Finisar from a “buy” rating to a “strong-buy” rating in a report on Saturday. Piper Jaffray Companies raised Finisar from a “neutral” rating to an “overweight” rating and increased their target price for the company from $18.00 to $26.00 in a report on Thursday, August 23rd. Loop Capital reduced their target price on Finisar to $20.00 and set a “hold” rating for the company in a report on Friday, September 7th. ValuEngine cut Finisar from a “hold” rating to a “sell” rating in a report on Thursday, October 11th. Finally, Raymond James cut Finisar from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 22nd. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $25.25.

Several hedge funds have recently bought and sold shares of FNSR. Alliancebernstein L.P. grew its position in shares of Finisar by 111.2% in the third quarter. Alliancebernstein L.P. now owns 8,278,822 shares of the technology company’s stock valued at $157,712,000 after purchasing an additional 4,359,557 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Finisar by 102.3% in the second quarter. Bank of New York Mellon Corp now owns 4,936,130 shares of the technology company’s stock valued at $88,850,000 after purchasing an additional 2,496,574 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Finisar by 17.5% in the second quarter. Dimensional Fund Advisors LP now owns 8,915,553 shares of the technology company’s stock valued at $160,479,000 after purchasing an additional 1,328,867 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Finisar by 670.5% in the third quarter. Victory Capital Management Inc. now owns 1,113,828 shares of the technology company’s stock valued at $21,218,000 after purchasing an additional 969,261 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Finisar by 35.5% in the third quarter. Franklin Resources Inc. now owns 3,525,548 shares of the technology company’s stock valued at $67,162,000 after purchasing an additional 922,800 shares in the last quarter. Institutional investors and hedge funds own 99.40% of the company’s stock.

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About Finisar

Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.

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