Strategic Financial Services Inc Acquires Shares of 10,000 Finisar Corporation (FNSR)
Strategic Financial Services Inc acquired a new position in shares of Finisar Corporation (NASDAQ:FNSR) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,000 shares of the technology company’s stock, valued at approximately $222,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Paradigm Capital Management Inc. NY boosted its stake in Finisar Corporation by 2.2% during the third quarter. Paradigm Capital Management Inc. NY now owns 1,095,250 shares of the technology company’s stock worth $24,282,000 after buying an additional 23,600 shares during the period. Sei Investments Co. boosted its stake in Finisar Corporation by 3.4% during the third quarter. Sei Investments Co. now owns 238,071 shares of the technology company’s stock worth $5,278,000 after buying an additional 7,860 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in Finisar Corporation by 26.3% during the third quarter. Candriam Luxembourg S.C.A. now owns 192,099 shares of the technology company’s stock worth $4,259,000 after buying an additional 40,008 shares during the period. Pitcairn Co. boosted its stake in Finisar Corporation by 26.9% during the third quarter. Pitcairn Co. now owns 18,376 shares of the technology company’s stock worth $408,000 after buying an additional 3,897 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Finisar Corporation by 37.3% during the third quarter. Principal Financial Group Inc. now owns 20,102 shares of the technology company’s stock worth $446,000 after buying an additional 5,456 shares during the period. 88.43% of the stock is owned by institutional investors.
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In other Finisar Corporation news, Director Roger C. Ferguson sold 2,726 shares of the business’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $21.46, for a total value of $58,499.96. Following the completion of the transaction, the director now directly owns 44,034 shares in the company, valued at $944,969.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Todd Swanson sold 6,202 shares of the business’s stock in a transaction dated 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 owns 217,005 shares of the company’s stock, valued at $5,281,901.70. The disclosure for this sale can be found here. Insiders sold 28,928 shares of company stock valued at $667,257 over the last quarter. 1.02% of the stock is currently owned by corporate insiders.
Finisar Corporation (FNSR) traded up $0.68 during mid-day trading on Friday, hitting $18.96. The company had a trading volume of 4,097,200 shares, compared to its average volume of 3,946,810. The company has a debt-to-equity ratio of 0.44, a current ratio of 7.66 and a quick ratio of 6.24. The company has a market capitalization of $2,159.32, a P/E ratio of 11.35, a P/E/G ratio of 1.31 and a beta of 1.19. Finisar Corporation has a 12-month low of $18.10 and a 12-month high of $36.85.
Finisar Corporation (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. The firm had revenue of $341.80 million during the quarter, compared to the consensus estimate of $341.22 million. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. analysts predict that Finisar Corporation will post 1.05 EPS for the current year.
Several research analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and set a $30.75 price objective on shares of Finisar Corporation in a research note on Tuesday, September 12th. TheStreet downgraded Finisar Corporation from a “b” rating to a “c+” rating in a research report on Thursday, November 2nd. Goldman Sachs Group, Inc. (The) downgraded Finisar Corporation from a “buy” rating to a “neutral” rating in a research report on Monday, November 6th. Jefferies Group LLC began coverage on Finisar Corporation in a research report on Wednesday, November 1st. They set a “buy” rating and a $28.50 target price for the company. Finally, Zacks Investment Research upgraded Finisar Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average 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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