American International Group Inc. Has $1.66 Million Holdings in Finisar Corporation (FNSR)
American International Group Inc. boosted its holdings in shares of Finisar Corporation (NASDAQ:FNSR) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,816 shares of the technology company’s stock after purchasing an additional 5,594 shares during the quarter. American International Group Inc. owned approximately 0.07% of Finisar worth $1,659,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of FNSR. Fortaleza Asset Management Inc. purchased a new stake in Finisar during the 2nd quarter worth approximately $138,000. PNC Financial Services Group Inc. increased its holdings in Finisar 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 purchasing an additional 1,805 shares during the last quarter. Cheyne Capital Management UK LLP purchased a new stake in Finisar during the 3rd quarter worth approximately $155,000. Koch Industries Inc. purchased a new stake in Finisar during the 2nd quarter worth approximately $201,000. Finally, Bray Capital Advisors purchased a new stake in Finisar during the 3rd quarter worth approximately $202,000. Institutional investors own 91.45% of the company’s stock.
In related news, Director Roger C. Ferguson sold 2,726 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $21.46, for a total transaction of $58,499.96. Following the completion of the transaction, the director now owns 44,034 shares in the company, valued at approximately $944,969.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jerry S. Rawls sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total value of $457,800.00. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.
Several equities research analysts have issued reports on the company. B. Riley restated a “buy” rating and set a $38.00 price objective on shares of Finisar in a report on Wednesday, September 6th. Raymond James Financial set a $22.00 price objective on Finisar and gave the stock a “buy” rating in a report on Thursday, December 7th. BidaskClub upgraded Finisar from a “strong sell” rating to a “sell” rating in a report on Tuesday. Barclays restated a “hold” rating and set a $18.00 price objective on shares of Finisar in a report on Wednesday. Finally, Jefferies Group reiterated a “buy” rating and issued a $28.50 price target (down from $34.00) on shares of Finisar in a report on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $27.42.
Shares of Finisar Corporation (NASDAQ FNSR) opened at $19.30 on Wednesday. Finisar Corporation has a twelve month low of $17.20 and a twelve month high of $36.41. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. The firm has a market capitalization of $2,083.22, a P/E ratio of 14.27, a PEG ratio of 1.31 and a beta of 1.14.
Finisar (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.03. Finisar had a return on equity of 9.51% and a net margin of 14.33%. The business had revenue of $332.21 million during the quarter, compared to the consensus estimate of $331.69 million. sell-side analysts predict that Finisar Corporation will post 1.02 earnings per share for the current fiscal year.
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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