Bank of New York Mellon Corp decreased its stake in Finisar Corp. (NASDAQ:FNSR) by 6.1% during the second quarter, Holdings Channel reports. The firm owned 429,850 shares of the company’s stock after selling 28,020 shares during the period. Bank of New York Mellon Corp owned approximately 0.40% of Finisar Corp. worth $7,526,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Quentec Asset Management LLC boosted its stake in Finisar Corp. by 358.3% in the first quarter. Quentec Asset Management LLC now owns 759,263 shares of the company’s stock valued at $13,849,000 after buying an additional 593,589 shares during the period. Teachers Advisors Inc. boosted its stake in Finisar Corp. by 303.4% in the first quarter. Teachers Advisors Inc. now owns 780,656 shares of the company’s stock valued at $14,239,000 after buying an additional 587,150 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Finisar Corp. by 95.5% in the first quarter. TIAA CREF Investment Management LLC now owns 863,404 shares of the company’s stock valued at $15,748,000 after buying an additional 421,759 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in Finisar Corp. during the first quarter valued at $7,201,000. Finally, AO Asset Management LLC boosted its stake in Finisar Corp. by 33.7% in the first quarter. AO Asset Management LLC now owns 999,000 shares of the company’s stock valued at $18,222,000 after buying an additional 252,000 shares during the period. Institutional investors own 91.69% of the company’s stock.

Finisar Corp. (NASDAQ:FNSR) traded up 1.91% on Monday, hitting $28.74. 2,517,664 shares of the company were exchanged. The stock has a market capitalization of $3.17 billion, a P/E ratio of 56.24 and a beta of 1.39. The company has a 50 day moving average price of $21.95 and a 200-day moving average price of $18.48. Finisar Corp. has a 52 week low of $10.66 and a 52 week high of $29.25.

Finisar Corp. (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, September 8th. The company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.08. Finisar Corp. had a net margin of 4.32% and a return on equity of 7.61%. The company earned $341.30 million during the quarter, compared to analyst estimates of $331.34 million. During the same period in the prior year, the business posted $0.23 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. On average, equities analysts expect that Finisar Corp. will post $1.73 earnings per share for the current fiscal year.

FNSR has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Finisar Corp. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 17th. Needham & Company LLC increased their price objective on shares of Finisar Corp. from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Monday. William Blair upgraded shares of Finisar Corp. from a “market perform” rating to an “outperform” rating in a research report on Friday, September 9th. Stifel Nicolaus increased their price objective on shares of Finisar Corp. from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $24.00 price target on shares of Finisar Corp. in a report on Tuesday, September 6th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.57.

In related news, EVP Christopher Brown sold 8,400 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $28.50, for a total transaction of $239,400.00. Following the completion of the sale, the executive vice president now directly owns 124,437 shares in the company, valued at approximately $3,546,454.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Mark Colyar sold 39,225 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $20.75, for a total transaction of $813,918.75. Following the sale, the senior vice president now owns 95,633 shares of the company’s stock, valued at $1,984,384.75. The disclosure for this sale can be found here. Corporate insiders own 1.34% of the company’s stock.

Finisar Corp. 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, optical engines and active optical cables that provide the fundamental optical-electrical, or optoelectronic, interface for interconnecting the electronic equipment used in communication networks, including the switches, routers and servers used in wireline networks, as well as the antennas and base stations used in wireless networks.

5 Day Chart for NASDAQ:FNSR

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