Rothschild Asset Management Inc. Buys 24,005 Shares of Finisar Corporation (FNSR)
Rothschild Asset Management Inc. increased its stake in shares of Finisar Corporation (NASDAQ:FNSR) by 2.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 945,563 shares of the technology company’s stock after buying an additional 24,005 shares during the period. Rothschild Asset Management Inc.’s holdings in Finisar Corporation were worth $24,566,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Acrospire Investment Management LLC raised its position in Finisar Corporation by 4.4% in the first quarter. Acrospire Investment Management LLC now owns 3,991 shares of the technology company’s stock valued at $109,000 after buying an additional 168 shares during the period. Westside Investment Management Inc. bought a new position in Finisar Corporation during the first quarter valued at approximately $150,000. Advisory Services Network LLC bought a new position in Finisar Corporation during the first quarter valued at approximately $193,000. Quantitative Systematic Strategies LLC bought a new position in Finisar Corporation during the second quarter valued at approximately $202,000. Finally, Oppenheimer & Co. Inc. bought a new position in Finisar Corporation during the first quarter valued at approximately $231,000.
Finisar Corporation (FNSR) opened at 23.94 on Friday. The stock’s 50 day moving average price is $26.98 and its 200 day moving average price is $27.56. The firm has a market capitalization of $2.67 billion, a P/E ratio of 10.93 and a beta of 1.32. Finisar Corporation has a 12 month low of $18.05 and a 12 month high of $36.85.
Finisar Corporation (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, June 15th. The technology company reported $0.50 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $357.50 million during the quarter, compared to analyst estimates of $359.65 million. Finisar Corporation had a net margin of 17.20% and a return on equity of 13.91%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.29 earnings per share. On average, analysts forecast that Finisar Corporation will post $2.10 earnings per share for the current year.
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Several equities analysts have recently commented on the company. B. Riley reaffirmed a “buy” rating and set a $38.00 target price on shares of Finisar Corporation in a report on Sunday, June 18th. Northland Securities reaffirmed a “buy” rating and set a $40.00 target price on shares of Finisar Corporation in a report on Friday, July 28th. William Blair reaffirmed an “outperform” rating on shares of Finisar Corporation in a report on Friday, June 9th. BidaskClub lowered Finisar Corporation from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Zacks Investment Research lowered Finisar Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company’s stock. Finisar Corporation presently has an average rating of “Buy” and an average target price of $36.84.
In related news, Chairman Jerry S. Rawls sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $25.93, for a total value of $648,250.00. Following the completion of the sale, the chairman now owns 815,188 shares of the company’s stock, valued at $21,137,824.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Mark Colyar sold 2,166 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $27.19, for a total transaction of $58,893.54. Following the completion of the sale, the senior vice president now directly owns 44,822 shares of the company’s stock, valued at approximately $1,218,710.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 101,789 shares of company stock valued at $2,754,189. Company insiders own 1.02% of the company’s stock.
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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