Dimensional Fund Advisors LP raised its stake in Finisar Corp. (NASDAQ:FNSR) by 22.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 5,181,610 shares of the company’s stock after buying an additional 962,855 shares during the period. Dimensional Fund Advisors LP owned approximately 4.81% of Finisar Corp. worth $90,729,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fisher Asset Management LLC boosted its position in Finisar Corp. by 1.7% in the second quarter. Fisher Asset Management LLC now owns 4,122,559 shares of the company’s stock valued at $75,278,000 after buying an additional 69,249 shares in the last quarter. DNB Asset Management AS boosted its position in Finisar Corp. by 4.9% in the second quarter. DNB Asset Management AS now owns 2,050,340 shares of the company’s stock valued at $35,901,000 after buying an additional 95,585 shares in the last quarter. State Street Corp boosted its position in Finisar Corp. by 4.2% in the first quarter. State Street Corp now owns 1,796,616 shares of the company’s stock valued at $32,770,000 after buying an additional 71,987 shares in the last quarter. Renaissance Technologies LLC boosted its position in Finisar Corp. by 7.7% in the first quarter. Renaissance Technologies LLC now owns 1,685,910 shares of the company’s stock valued at $30,751,000 after buying an additional 120,300 shares in the last quarter. Finally, AO Asset Management LLC boosted its position in Finisar Corp. by 12.7% in the second quarter. AO Asset Management LLC now owns 1,126,000 shares of the company’s stock valued at $19,716,000 after buying an additional 127,000 shares in the last quarter. Institutional investors own 91.62% of the company’s stock.

Shares of Finisar Corp. (NASDAQ:FNSR) traded down 1.09% on Friday, hitting $29.01. The stock had a trading volume of 302,754 shares. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 56.77 and a beta of 1.39. Finisar Corp. has a 52 week low of $10.66 and a 52 week high of $29.40. The company has a 50-day moving average of $22.84 and a 200 day moving average of $18.73.

Finisar Corp. (NASDAQ:FNSR) last announced its earnings results on Thursday, September 8th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.30 by $0.08. Finisar Corp. had a return on equity of 7.61% and a net margin of 4.32%. The company had revenue of $341.30 million for the quarter, compared to analyst estimates of $331.34 million. During the same quarter in the prior year, the company earned $0.23 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts predict that Finisar Corp. will post $1.73 EPS for the current year.

Several equities analysts recently issued reports on FNSR shares. Zacks Investment Research upgraded Finisar Corp. from a “hold” rating to a “strong-buy” rating and set a $32.00 price target on the stock in a report on Wednesday, September 14th. Stifel Nicolaus raised their target price on Finisar Corp. from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, September 12th. Needham & Company LLC raised their target price on Finisar Corp. from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, September 6th. Barclays PLC raised their target price on Finisar Corp. from $20.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, September 9th. Finally, MKM Partners upgraded Finisar Corp. from a “neutral” rating to a “buy” rating and raised their target price for the stock from $21.00 to $35.00 in a report on Friday, September 9th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Finisar Corp. has a consensus rating of “Buy” and a consensus price target of $27.57.

In related news, EVP Christopher Brown sold 18,576 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $18.08, for a total transaction of $335,854.08. Following the transaction, the executive vice president now directly owns 154,570 shares of the company’s stock, valued at approximately $2,794,625.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Joseph A. Young sold 6,473 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $19.90, for a total value of $128,812.70. Following the transaction, the executive vice president now directly owns 246,543 shares in the company, valued at $4,906,205.70. The disclosure for this sale can be found here. Corporate insiders own 1.34% of the company’s stock.

About Finisar Corp.

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.

5 Day Chart for NASDAQ:FNSR

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