GMT Capital Corp bought a new position in Finisar Corporation (NASDAQ:FNSR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 714,900 shares of the technology company’s stock, valued at approximately $19,545,000. GMT Capital Corp owned about 0.64% of Finisar Corporation at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Cantab Capital Partners LLP boosted its position in Finisar Corporation by 3.2% in the fourth quarter. Cantab Capital Partners LLP now owns 49,767 shares of the technology company’s stock worth $1,506,000 after buying an additional 1,558 shares during the last quarter. Oribel Capital Management LP purchased a new position in Finisar Corporation during the fourth quarter worth about $560,000. Renaissance Technologies LLC boosted its position in Finisar Corporation by 25.4% in the fourth quarter. Renaissance Technologies LLC now owns 4,160,600 shares of the technology company’s stock worth $125,941,000 after buying an additional 843,090 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Finisar Corporation during the fourth quarter worth about $240,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Finisar Corporation during the fourth quarter valued at about $19,676,000.
Shares of Finisar Corporation (NASDAQ FNSR) traded down 0.76% on Monday, hitting $27.58. 6,002,126 shares of the stock traded hands. Finisar Corporation has a 52-week low of $16.73 and a 52-week high of $36.85. The stock has a market cap of $3.07 billion, a P/E ratio of 23.47 and a beta of 1.31. The stock’s 50 day moving average price is $24.76 and its 200 day moving average price is $28.48. Finisar Corporation also was the recipient of some unusual options trading activity on Friday. Traders acquired 7,020 call options on the stock. This is an increase of 1,200% compared to the average daily volume of 540 call options.
Finisar Corporation (NASDAQ:FNSR) last posted its earnings results on Thursday, June 15th. The technology company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $357.50 million during the quarter, compared to analyst estimates of $359.65 million. Finisar Corporation had a net margin of 17.20% and a return on equity of 14.65%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.29 EPS. On average, equities analysts expect that Finisar Corporation will post $2.10 EPS for the current fiscal year.
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Several brokerages recently issued reports on FNSR. B. Riley reiterated a “buy” rating and set a $38.00 price target on shares of Finisar Corporation in a research report on Thursday, June 8th. ValuEngine cut shares of Finisar Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Finisar Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Citigroup Inc. upgraded shares of Finisar Corporation to a “strong-buy” rating and set a $40.00 price target on the stock in a research report on Monday, March 13th. Finally, MKM Partners reiterated a “buy” rating and set a $32.00 price target (down previously from $41.00) on shares of Finisar Corporation in a research report on Friday, April 21st. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $37.06.
In other news, Director Roger C. Ferguson sold 5,500 shares of Finisar Corporation stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $27.03, for a total transaction of $148,665.00. Following the completion of the transaction, the director now directly owns 39,828 shares of the company’s stock, valued at approximately $1,076,550.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Jerry S. Rawls sold 30,000 shares of Finisar Corporation stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $27.45, for a total transaction of $823,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,713 shares of company stock valued at $1,284,171. Insiders own 1.34% of the company’s stock.
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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