Finisar Corporation (FNSR) Position Lifted by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans boosted its holdings in Finisar Corporation (NASDAQ:FNSR) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 452,320 shares of the technology company’s stock after buying an additional 1,670 shares during the quarter. Thrivent Financial For Lutherans owned approximately 0.41% of Finisar Corporation worth $11,751,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in FNSR. Wellington Management Group LLP boosted its stake in shares of Finisar Corporation by 302.4% during the first quarter. Wellington Management Group LLP now owns 2,828,356 shares of the technology company’s stock valued at $77,327,000 after purchasing an additional 2,125,445 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Finisar Corporation by 2,030.6% during the first quarter. Victory Capital Management Inc. now owns 1,310,526 shares of the technology company’s stock valued at $35,830,000 after purchasing an additional 1,249,017 shares in the last quarter. Taylor Asset Management Inc. acquired a new stake in shares of Finisar Corporation during the first quarter valued at about $25,221,000. GMT Capital Corp acquired a new stake in shares of Finisar Corporation during the first quarter valued at about $19,545,000. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in shares of Finisar Corporation during the second quarter valued at about $15,474,000. 86.32% of the stock is currently owned by institutional investors and hedge funds.
In related news, 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 transaction, the executive vice president now directly owns 217,005 shares in the company, valued at $5,281,901.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Stephens sold 3,016 shares of Finisar Corporation stock in a transaction on Monday, July 17th. The shares were sold at an average price of $27.36, for a total value of $82,517.76. Following the transaction, the director now owns 28,893 shares in the company, valued at $790,512.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,028 shares of company stock worth $2,113,437. Company insiders own 1.02% of the company’s stock.
Finisar Corporation (NASDAQ:FNSR) opened at 21.60 on Friday. The firm has a 50-day moving average price of $23.65 and a 200 day moving average price of $25.48. Finisar Corporation has a 52-week low of $20.16 and a 52-week high of $36.85. The stock has a market cap of $2.46 billion, a PE ratio of 10.16 and a beta of 1.33.
Finisar Corporation (NASDAQ:FNSR) last posted its earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting the Zacks’ consensus estimate 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 return on equity of 13.11% and a net margin of 16.92%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. On average, analysts forecast that Finisar Corporation will post $1.49 earnings per share for the current fiscal year.
A number of analysts have recently commented on the company. B. Riley reissued a “buy” rating and set a $30.75 price target on shares of Finisar Corporation in a research note on Tuesday, September 12th. Piper Jaffray Companies reissued a “buy” rating and set a $26.00 price target on shares of Finisar Corporation in a research note on Sunday, September 17th. William Blair reaffirmed an “outperform” rating on shares of Finisar Corporation in a research note on Thursday, September 14th. Craig Hallum reaffirmed a “buy” rating and issued a $28.00 price objective (down from $38.00) on shares of Finisar Corporation in a research note on Friday, September 8th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $34.00 price objective (down from $44.00) on shares of Finisar Corporation in a research note on Friday, September 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and three have assigned a strong buy rating to the company’s stock. The stock currently 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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