Legal & General Group Plc raised its position in Finisar Corporation (NASDAQ:FNSR) by 18.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 42,332 shares of the technology company’s stock after acquiring an additional 6,541 shares during the period. Legal & General Group Plc’s holdings in Finisar Corporation were worth $1,104,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Prudential Financial Inc. grew its stake in Finisar Corporation by 0.8% in the first quarter. Prudential Financial Inc. now owns 15,535 shares of the technology company’s stock valued at $425,000 after acquiring an additional 120 shares during the period. Teacher Retirement System of Texas grew its stake in Finisar Corporation by 1.6% in the second quarter. Teacher Retirement System of Texas now owns 8,890 shares of the technology company’s stock valued at $231,000 after acquiring an additional 136 shares during the period. Gradient Investments LLC grew its stake in Finisar Corporation by 9.6% in the second quarter. Gradient Investments LLC now owns 11,696 shares of the technology company’s stock valued at $304,000 after acquiring an additional 1,029 shares during the period. US Bancorp DE grew its stake in Finisar Corporation by 31.0% in the first quarter. US Bancorp DE now owns 9,559 shares of the technology company’s stock valued at $262,000 after acquiring an additional 2,261 shares during the period. Finally, American International Group Inc. grew its stake in Finisar Corporation by 5.2% in the first quarter. American International Group Inc. now owns 65,099 shares of the technology company’s stock valued at $1,780,000 after acquiring an additional 3,247 shares during the period. 86.32% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on FNSR. Piper Jaffray Companies reissued a “buy” rating and issued a $26.00 price objective 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 report on Thursday, September 14th. B. Riley reissued a “buy” rating and issued a $30.75 price objective on shares of Finisar Corporation in a research report on Tuesday, September 12th. MKM Partners reissued a “buy” rating and issued a $31.00 price objective (down previously from $33.00) on shares of Finisar Corporation in a research report on Monday, September 11th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $28.50 price objective (down previously from $34.00) on shares of Finisar Corporation in a research report on Friday, September 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, ten have given a buy rating and three have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $32.60.

Shares of Finisar Corporation (NASDAQ FNSR) opened at 22.17 on Friday. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 10.43 and a beta of 1.33. Finisar Corporation has a 1-year low of $20.16 and a 1-year high of $36.85. The company’s 50 day moving average price is $23.65 and its 200-day moving average price is $25.48.

Finisar Corporation (NASDAQ:FNSR) last announced 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. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The company had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $341.22 million. During the same period last year, the firm earned $0.38 EPS. Finisar Corporation’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts forecast that Finisar Corporation will post $1.49 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This piece was first published by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://www.watchlistnews.com/legal-general-group-plc-increases-holdings-in-finisar-corporation-fnsr/1600092.html.

In related news, Director Roger C. Ferguson sold 2,726 shares of the firm’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $21.46, for a total value of $58,499.96. Following the transaction, the director now directly owns 44,034 shares of the company’s stock, valued at approximately $944,969.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Jerry S. Rawls sold 25,000 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $27.58, for a total value of $689,500.00. Following the completion of the transaction, the chairman now directly owns 815,188 shares in the company, valued at $22,482,885.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,127 shares of company stock worth $1,798,891. 1.02% of the stock is owned by insiders.

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.

Want to see what other hedge funds are holding FNSR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Finisar Corporation (NASDAQ:FNSR).

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

Receive News & Ratings for Finisar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.