11,965 Shares in Finisar Corporation (FNSR) Acquired by Petrus Trust Company LTA
Petrus Trust Company LTA acquired a new position in shares of Finisar Corporation (NASDAQ:FNSR) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,965 shares of the technology company’s stock, valued at approximately $311,000.
Other large investors also recently modified their holdings of the company. Fortaleza Asset Management Inc. purchased a new stake in shares of Finisar Corporation during the 2nd quarter worth approximately $138,000. PNC Financial Services Group Inc. lifted its position in shares of Finisar Corporation by 43.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock worth $153,000 after buying an additional 1,805 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of Finisar Corporation during the 2nd quarter worth approximately $202,000. Thompson Davis & CO. Inc. purchased a new stake in shares of Finisar Corporation during the 2nd quarter worth approximately $217,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Finisar Corporation during the 1st quarter worth approximately $231,000. Institutional investors and hedge funds own 86.32% of the company’s stock.
Several research firms recently commented on FNSR. Piper Jaffray Companies reiterated a “buy” rating and issued a $26.00 price target on shares of Finisar Corporation in a research report on Sunday, September 17th. William Blair reiterated an “outperform” rating on shares of Finisar Corporation in a research report on Thursday, September 14th. B. Riley reiterated a “buy” rating and issued a $30.75 price target on shares of Finisar Corporation in a research report on Tuesday, September 12th. MKM Partners reiterated a “buy” rating and issued a $31.00 price target (down previously from $33.00) on shares of Finisar Corporation in a research report on Monday, September 11th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $28.50 price target (down previously from $34.00) on shares of Finisar Corporation in a research report on Friday, September 8th. Two equities research 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 stock. The company presently has a consensus rating of “Buy” and an average price target of $32.60.
Shares of Finisar Corporation (FNSR) traded up 0.68% during trading on Friday, reaching $22.17. 2,445,923 shares of the company’s stock were exchanged. Finisar Corporation has a 52 week low of $20.16 and a 52 week high of $36.85. The company’s 50-day moving average is $23.65 and its 200 day moving average is $25.48. The stock has a market capitalization of $2.52 billion, a PE ratio of 10.43 and a beta of 1.33.
Finisar Corporation (NASDAQ:FNSR) last posted its earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.40. The company had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $341.22 million. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. On average, analysts forecast that Finisar Corporation will post $1.49 earnings per share for the current year.
In related news, EVP Todd Swanson sold 6,202 shares of Finisar Corporation stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $24.34, for a total transaction of $150,956.68. Following the sale, the executive vice president now directly owns 217,005 shares in the company, valued at $5,281,901.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Roger C. Ferguson sold 2,726 shares of Finisar Corporation stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $21.46, for a total transaction of $58,499.96. Following the sale, the director now owns 44,034 shares in the company, valued at $944,969.64. The disclosure for this sale can be found here. Insiders sold 68,127 shares of company stock worth $1,798,891 over the last quarter. 1.02% of the stock is currently owned by company insiders.
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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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