Bray Capital Advisors Buys Shares of 9,105 Finisar Corporation (FNSR)
Bray Capital Advisors purchased a new position in shares of Finisar Corporation (NASDAQ:FNSR) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,105 shares of the technology company’s stock, valued at approximately $202,000.
Several other institutional investors have also recently added to or reduced their stakes in FNSR. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Finisar Corporation during the 2nd quarter worth about $15,474,000. Hood River Capital Management LLC boosted its stake in shares of Finisar Corporation by 177.0% during the 2nd quarter. Hood River Capital Management LLC now owns 841,331 shares of the technology company’s stock worth $21,858,000 after purchasing an additional 537,600 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Finisar Corporation during the 2nd quarter worth about $12,973,000. Harbour Capital Advisors LLC boosted its stake in shares of Finisar Corporation by 3,505.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 499,725 shares of the technology company’s stock worth $19,235,000 after purchasing an additional 485,865 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Finisar Corporation by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 8,699,545 shares of the technology company’s stock worth $237,845,000 after purchasing an additional 387,949 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.
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Shares of Finisar Corporation (NASDAQ:FNSR) traded down $0.46 during trading hours on Monday, hitting $18.94. 1,461,010 shares of the company were exchanged, compared to its average volume of 3,190,000. The company has a current ratio of 7.66, a quick ratio of 6.24 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2,230.00, a price-to-earnings ratio of 11.62, a PEG ratio of 1.32 and a beta of 1.19. Finisar Corporation has a fifty-two week low of $18.88 and a fifty-two week high of $36.85.
Finisar Corporation (NASDAQ:FNSR) last issued its quarterly earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $341.80 million during the quarter, compared to analyst estimates of $341.22 million. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. analysts forecast that Finisar Corporation will post 1.07 earnings per share for the current fiscal year.
In other Finisar Corporation news, Chairman Jerry S. Rawls sold 20,000 shares of Finisar Corporation stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total value of $457,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Todd Swanson sold 6,202 shares of Finisar Corporation stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $24.34, for a total transaction of $150,956.68. Following the completion of the transaction, the executive vice president now directly owns 217,005 shares of the company’s stock, valued at approximately $5,281,901.70. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,928 shares of company stock valued at $667,257. Insiders own 1.02% of the company’s stock.
FNSR has been the topic of several analyst reports. Zacks Investment Research cut shares of Finisar Corporation from a “hold” rating to a “sell” rating in a research note on Monday, September 4th. Northland Securities set a $40.00 price target on shares of Finisar Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies reissued a “buy” rating and issued a $30.00 target price (down from $32.00) on shares of Finisar Corporation in a research report on Tuesday, September 5th. BidaskClub cut shares of Finisar Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC assumed coverage on shares of Finisar Corporation in a research report on Wednesday, November 1st. They issued a “buy” rating and a $28.50 target price on the stock. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and three have given a strong buy rating to the stock. Finisar Corporation presently has a consensus rating of “Buy” and a consensus price target of $32.60.
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.
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