DnB Asset Management AS boosted its position in shares of Finisar Co. (NASDAQ:FNSR) by 22.9% in the fourth quarter, HoldingsChannel reports. The firm owned 2,248,526 shares of the technology company’s stock after acquiring an additional 419,120 shares during the period. DnB Asset Management AS’s holdings in Finisar were worth $45,758,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in Finisar by 103.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,728 shares of the technology company’s stock valued at $127,000 after acquiring an additional 2,912 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake 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 valued at $153,000 after acquiring an additional 1,805 shares during the last quarter. Cubist Systematic Strategies LLC boosted its stake in Finisar by 598.3% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 7,004 shares of the technology company’s stock valued at $155,000 after acquiring an additional 6,001 shares during the last quarter. Westside Investment Management Inc. boosted its stake in Finisar by 33.3% during the 2nd quarter. Westside Investment Management Inc. now owns 8,000 shares of the technology company’s stock valued at $218,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in Finisar by 20.6% during the 2nd quarter. Advisory Services Network LLC now owns 8,500 shares of the technology company’s stock valued at $221,000 after acquiring an additional 1,450 shares during the last quarter. 91.21% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have commented on FNSR shares. William Blair reiterated an “outperform” rating on shares of Finisar in a research note on Thursday, September 14th. DA Davidson reiterated a “buy” rating and set a $30.00 price objective on shares of Finisar in a research note on Wednesday, November 29th. Piper Jaffray Companies increased their price objective on shares of Finisar from $22.00 to $28.00 in a research note on Wednesday, December 13th. Raymond James Financial set a $26.00 price objective on shares of Finisar and gave the company a “buy” rating in a research note on Tuesday, December 19th. Finally, Stifel Nicolaus reduced their price objective on shares of Finisar from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $28.35.

Finisar Co. (NASDAQ:FNSR) opened at $21.38 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.81 and a quick ratio of 6.31. Finisar Co. has a 52-week low of $17.20 and a 52-week high of $36.41. The stock has a market cap of $2,440.00, a PE ratio of 12.22, a PEG ratio of 2.12 and a beta of 1.15.

Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The company had revenue of $332.21 million for the quarter, compared to the consensus estimate of $331.69 million. research analysts anticipate that Finisar Co. will post 0.73 earnings per share for the current year.

In related news, EVP Julie Sheridan Eng sold 1,466 shares of Finisar stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $21.70, for a total value of $31,812.20. Following the sale, the executive vice president now directly owns 69,150 shares in the company, valued at approximately $1,500,555. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kurt Adzema sold 20,025 shares of Finisar stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $22.15, for a total transaction of $443,553.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,369 shares of company stock worth $1,189,715. 1.02% of the stock is currently owned by insiders.

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

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