Virtu KCG Holdings LLC acquired a new position in shares of Finisar Corporation (NASDAQ:FNSR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 22,706 shares of the technology company’s stock, valued at approximately $590,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Finisar Corporation by 2.4% during the second quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock valued at $231,435,000 after acquiring an additional 208,692 shares during the last quarter. Renaissance Technologies LLC boosted its stake 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 purchasing an additional 126,400 shares during the period. Northern Trust Corp boosted its stake in shares of Finisar Corporation by 3.8% in the second quarter. Northern Trust Corp now owns 2,907,058 shares of the technology company’s stock valued at $75,525,000 after purchasing an additional 107,680 shares during the period. Wellington Management Group LLP boosted its stake 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 purchasing an additional 2,125,445 shares during the period. Finally, State Street Corp lifted its stake in Finisar Corporation by 3.6% in the first quarter. State Street Corp now owns 2,077,716 shares of the technology company’s stock worth $56,802,000 after acquiring an additional 71,736 shares during the last quarter. Institutional investors and hedge funds own 86.32% of the company’s stock.
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In other Finisar Corporation news, EVP Todd Swanson sold 6,202 shares of Finisar Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $24.34, for a total transaction of $150,956.68. Following the transaction, the executive vice president now directly owns 217,005 shares of the company’s stock, valued at approximately $5,281,901.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jerry S. Rawls sold 25,000 shares of Finisar Corporation stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $27.58, for a total value of $689,500.00. Following the completion of the transaction, the chairman now directly owns 815,188 shares of the company’s stock, valued at $22,482,885.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,928 shares of company stock worth $898,957. Company insiders own 1.02% of the company’s stock.
FNSR has been the subject of a number of recent research reports. William Blair reiterated an “outperform” rating on shares of Finisar Corporation in a research note on Thursday, September 14th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $32.00 price objective (down previously from $37.00) on shares of Finisar Corporation in a research report on Friday, September 8th. MKM Partners reaffirmed a “buy” rating and issued a $31.00 target price (down from $33.00) on shares of Finisar Corporation in a report on Monday, September 11th. Piper Jaffray Companies reissued a “buy” rating and issued a $26.00 price objective on shares of Finisar Corporation in a research note on Sunday, September 17th. Finally, Northland Securities restated a “buy” rating and set a $40.00 target price on shares of Finisar Corporation in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.60.
Shares of Finisar Corporation (FNSR) opened at 21.64 on Wednesday. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 10.18 and a beta of 1.31. Finisar Corporation has a one year low of $20.16 and a one year high of $36.85. The stock’s 50 day moving average price is $22.27 and its 200 day moving average price is $24.56.
Finisar Corporation (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.40. The firm had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The company’s revenue was up .1% on a year-over-year basis. During the same quarter last year, the company earned $0.38 EPS. On average, equities analysts anticipate that Finisar Corporation will post $1.47 earnings per share for the current fiscal year.
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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