Exane Derivatives acquired a new position in Finisar Corporation (NASDAQ:FNSR) during the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 23,468 shares of the technology company’s stock, valued at approximately $520,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Fondren Management LP purchased a new stake in shares of Finisar Corporation in the 2nd quarter worth about $325,000. Advisory Services Network LLC boosted its position in shares of Finisar Corporation by 20.6% in the 2nd quarter. Advisory Services Network LLC now owns 8,500 shares of the technology company’s stock worth $221,000 after buying an additional 1,450 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Finisar Corporation by 307.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 93,860 shares of the technology company’s stock worth $2,438,000 after buying an additional 70,808 shares in the last quarter. Wealthsource Partners LLC purchased a new stake in shares of Finisar Corporation in the 2nd quarter worth about $470,000. Finally, Koch Industries Inc. purchased a new stake in shares of Finisar Corporation in the 2nd quarter worth about $201,000. Institutional investors and hedge funds own 86.32% of the company’s stock.

In related news, Chairman Jerry S. Rawls sold 25,000 shares of the stock in a transaction on 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 owns 815,188 shares in the company, valued at approximately $22,482,885.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roger C. Ferguson sold 2,726 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $21.46, for a total value of $58,499.96. Following the completion of the transaction, the director now owns 44,034 shares of the company’s stock, valued at approximately $944,969.64. The disclosure for this sale can be found here. Insiders sold a total of 33,928 shares of company stock valued at $898,957 in the last quarter. 1.02% of the stock is currently owned by corporate insiders.

Several equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “strong-buy” rating and issued a $34.00 price objective (down from $44.00) on shares of Finisar Corporation in a research report on Friday, September 8th. William Blair reiterated an “ourperform” rating on shares of Finisar Corporation in a research report on Thursday, September 7th. Northland Securities set a $40.00 price objective on shares of Finisar Corporation and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price objective (down from $33.00) on shares of Finisar Corporation in a research report on Tuesday, September 5th. Finally, B. Riley reiterated a “buy” rating and issued a $38.00 price objective on shares of Finisar Corporation in a research report on Wednesday, September 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $32.60.

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Finisar Corporation (FNSR) traded down 0.73% on Friday, reaching $23.03. 3,718,980 shares of the company’s stock were exchanged. Finisar Corporation has a 1-year low of $20.16 and a 1-year high of $36.85. The stock has a market capitalization of $2.62 billion, a P/E ratio of 10.83 and a beta of 1.31. The firm’s 50 day moving average is $22.01 and its 200 day moving average is $24.42.

Finisar Corporation (NASDAQ:FNSR) last released its quarterly earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The business had revenue of $341.80 million during the quarter, compared to analyst estimates of $341.22 million. During the same quarter last year, the company posted $0.38 EPS. Finisar Corporation’s revenue for the quarter was up .1% on a year-over-year basis. Analysts expect that Finisar Corporation will post $1.47 EPS for the current year.

About Finisar Corporation

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.

Institutional Ownership by Quarter for Finisar Corporation (NASDAQ:FNSR)

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