Prudential Financial Inc. decreased its position in Finisar Corporation (NASDAQ:FNSR) by 22.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,065 shares of the technology company’s stock after selling 3,470 shares during the quarter. Prudential Financial Inc.’s holdings in Finisar Corporation were worth $313,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Royce & Associates LP raised its holdings in Finisar Corporation by 2,395.8% in the second quarter. Royce & Associates LP now owns 59,900 shares of the technology company’s stock worth $1,556,000 after purchasing an additional 57,500 shares in the last quarter. Zweig DiMenna Associates LLC raised its holdings in Finisar Corporation by 101.2% in the second quarter. Zweig DiMenna Associates LLC now owns 412,397 shares of the technology company’s stock worth $10,714,000 after purchasing an additional 207,397 shares in the last quarter. American Century Companies Inc. raised its holdings in Finisar Corporation by 2.3% in the second quarter. American Century Companies Inc. now owns 271,611 shares of the technology company’s stock worth $7,056,000 after purchasing an additional 6,150 shares in the last quarter. Virginia Retirement Systems ET AL raised its holdings in Finisar Corporation by 0.3% in the second quarter. Virginia Retirement Systems ET AL now owns 91,600 shares of the technology company’s stock worth $2,380,000 after purchasing an additional 300 shares in the last quarter. Finally, Federated Investors Inc. PA raised its holdings in Finisar Corporation by 12,199.4% in the second quarter. Federated Investors Inc. PA now owns 223,480 shares of the technology company’s stock worth $5,806,000 after purchasing an additional 221,663 shares in the last quarter. Institutional investors and hedge funds own 86.32% of the company’s stock.

Finisar Corporation (NASDAQ FNSR) opened at 22.28 on Friday. The stock’s 50 day moving average price is $22.40 and its 200 day moving average price is $24.66. Finisar Corporation has a one year low of $20.16 and a one year high of $36.85. The company has a market capitalization of $2.54 billion, a P/E ratio of 10.48 and a beta of 1.31.

Finisar Corporation (NASDAQ:FNSR) last released its quarterly earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The firm had revenue of $341.80 million during the quarter, compared to analyst estimates of $341.22 million. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The business’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts anticipate that Finisar Corporation will post $1.48 EPS for the current fiscal year.

A number of research firms have issued reports on FNSR. B. Riley reiterated a “buy” rating and issued a $38.00 price objective on shares of Finisar Corporation in a report on Sunday, June 18th. Northland Securities reiterated a “buy” rating and issued a $40.00 price objective on shares of Finisar Corporation in a report on Friday, July 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $33.00 price objective on shares of Finisar Corporation in a report on Saturday, July 22nd. DA Davidson began coverage on Finisar Corporation in a report on Thursday, June 29th. They issued a “buy” rating and a $40.00 price objective for the company. Finally, BidaskClub downgraded Finisar Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $32.60.

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In related news, Director Robert Stephens sold 3,016 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $27.36, for a total transaction of $82,517.76. Following the transaction, the director now directly owns 28,893 shares of the company’s stock, valued at approximately $790,512.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Roger C. Ferguson sold 2,726 shares of the company’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 transaction, the director now directly owns 44,034 shares in the company, valued at $944,969.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,127 shares of company stock valued at $1,150,641. Corporate insiders own 1.02% of the company’s stock.

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.

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

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