First Trust Advisors LP Has $649,000 Stake in Finisar Corporation (FNSR)
First Trust Advisors LP decreased its position in Finisar Corporation (NASDAQ:FNSR) by 44.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,992 shares of the technology company’s stock after selling 20,035 shares during the period. First Trust Advisors LP’s holdings in Finisar Corporation were worth $649,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in shares of Finisar Corporation in the 2nd quarter valued at approximately $787,000. Schwab Charles Investment Management Inc. grew its stake in shares of Finisar Corporation by 5.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 781,800 shares of the technology company’s stock valued at $20,312,000 after buying an additional 40,889 shares during the period. Hussman Strategic Advisors Inc. grew its stake in shares of Finisar Corporation by 28.6% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 225,000 shares of the technology company’s stock valued at $5,846,000 after buying an additional 50,000 shares during the period. Goelzer Investment Management Inc. purchased a new stake in shares of Finisar Corporation in the 2nd quarter valued at approximately $1,523,000. Finally, Endurance Wealth Management Inc. acquired a new position in shares of Finisar Corporation in the 2nd quarter worth approximately $1,196,000. 86.32% of the stock is owned by institutional investors and hedge funds.
Finisar Corporation (NASDAQ FNSR) opened at 21.75 on Friday. Finisar Corporation has a 12 month low of $20.16 and a 12 month high of $36.85. The stock has a market capitalization of $2.48 billion, a P/E ratio of 10.23 and a beta of 1.33. The firm’s 50-day moving average is $23.65 and its 200 day moving average is $25.48.
Finisar Corporation (NASDAQ:FNSR) last released its earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The firm had revenue of $341.80 million during the quarter, compared to analyst estimates of $341.22 million. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Finisar Corporation will post $1.49 earnings per share for the current year.
In other Finisar Corporation news, EVP Todd Swanson sold 6,202 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $24.34, for a total transaction of $150,956.68. Following the completion of the sale, the executive vice president now owns 217,005 shares in the company, valued at $5,281,901.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Jerry S. Rawls sold 25,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $25.93, for a total transaction of $648,250.00. Following the sale, the chairman now owns 815,188 shares of the company’s stock, valued at approximately $21,137,824.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,028 shares of company stock valued at $2,113,437. 1.02% of the stock is owned by insiders.
Several brokerages have recently commented on FNSR. Piper Jaffray Companies restated a “buy” rating and issued a $26.00 price objective on shares of Finisar Corporation in a report on Sunday, September 17th. William Blair restated an “outperform” rating on shares of Finisar Corporation in a report on Thursday, September 14th. B. Riley restated a “buy” rating and issued a $30.75 price objective on shares of Finisar Corporation in a report on Tuesday, September 12th. MKM Partners restated a “buy” rating and issued a $31.00 price objective (down from $33.00) on shares of Finisar Corporation in a report on Monday, September 11th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $28.50 price objective (down from $34.00) on shares of Finisar Corporation in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, ten have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $32.60.
Finisar Corporation Company 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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