Capital Management Associates NY Invests $372,000 in Finisar Corporation (FNSR)
Capital Management Associates NY purchased a new stake in shares of Finisar Corporation (NASDAQ:FNSR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 16,800 shares of the technology company’s stock, valued at approximately $372,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in FNSR. Prudential Financial Inc. increased its position in shares of Finisar Corporation by 0.8% during the first quarter. Prudential Financial Inc. now owns 15,535 shares of the technology company’s stock valued at $425,000 after buying an additional 120 shares during the period. Principal Financial Group Inc. increased its position in shares of Finisar Corporation by 9.7% during the first quarter. Principal Financial Group Inc. now owns 68,439 shares of the technology company’s stock valued at $1,871,000 after buying an additional 6,076 shares during the period. Legal & General Group Plc grew its holdings in Finisar Corporation by 3.1% in the first quarter. Legal & General Group Plc now owns 35,791 shares of the technology company’s stock worth $983,000 after purchasing an additional 1,063 shares during the period. State Street Corp grew its holdings in Finisar Corporation by 3.6% in the first quarter. State Street Corp now owns 2,077,716 shares of the technology company’s stock worth $56,802,000 after purchasing an additional 71,736 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Finisar Corporation in the first quarter worth about $314,000. Institutional investors own 88.14% of the company’s stock.
Shares of Finisar Corporation (NASDAQ:FNSR) traded up $0.06 during mid-day trading on Tuesday, reaching $19.02. 2,084,300 shares of the company’s stock were exchanged, compared to its average volume of 3,408,995. Finisar Corporation has a twelve month low of $18.10 and a twelve month high of $36.85. The stock has a market capitalization of $2,150.00, a PE ratio of 11.35, a P/E/G ratio of 1.31 and a beta of 1.19. The company has a current ratio of 7.66, a quick ratio of 6.24 and a debt-to-equity ratio of 0.44.
Finisar Corporation (NASDAQ:FNSR) last announced its earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The business had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $341.22 million. During the same period in the prior year, the company earned $0.38 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. sell-side analysts predict that Finisar Corporation will post 1.05 earnings per share for the current year.
In other Finisar Corporation news, Chairman Jerry S. Rawls sold 20,000 shares of the company’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 transaction of $457,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roger C. Ferguson sold 2,726 shares of the company’s stock in a transaction that occurred on 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 directly owns 44,034 shares of the company’s stock, valued at $944,969.64. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.
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A number of brokerages have weighed in on FNSR. Needham & Company LLC restated a “strong-buy” rating and issued a $34.00 price objective (down previously from $44.00) on shares of Finisar Corporation in a report on Friday, September 8th. William Blair restated an “ourperform” rating on shares of Finisar Corporation in a 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 report on Tuesday, August 29th. Stifel Nicolaus restated a “buy” rating and issued a $30.00 price objective (down previously from $33.00) on shares of Finisar Corporation in a report on Tuesday, September 5th. Finally, B. Riley restated a “buy” rating and issued a $38.00 price objective on shares of Finisar Corporation in a report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $32.60.
Finisar Corporation 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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