Delta Investment Management LLC purchased a new position in Finisar Co. (NASDAQ:FNSR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 95,942 shares of the technology company’s stock, valued at approximately $2,222,000. Finisar comprises about 1.9% of Delta Investment Management LLC’s holdings, making the stock its 28th largest holding.

Several other large investors also recently modified their holdings of FNSR. Alpine Associates Management Inc. bought a new position in shares of Finisar in the 4th quarter worth $85,550,000. IndexIQ Advisors LLC bought a new position in shares of Finisar in the 4th quarter worth $29,594,000. Norges Bank bought a new position in shares of Finisar in the 4th quarter worth $25,944,000. Oregon Public Employees Retirement Fund bought a new position in shares of Finisar during the 4th quarter valued at $45,000. Finally, Stevens Capital Management LP bought a new position in shares of Finisar during the 4th quarter valued at $8,038,000. 93.41% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Finisar from a “hold” rating to a “strong sell” rating in a report on Thursday, May 2nd. BidaskClub lowered shares of Finisar from a “buy” rating to a “hold” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $25.29.

FNSR traded up $0.06 during trading on Wednesday, hitting $23.02. 184,960 shares of the stock traded hands, compared to its average volume of 1,434,314. The stock has a market capitalization of $2.67 billion, a P/E ratio of 71.41, a PEG ratio of 2.08 and a beta of 1.41. The company has a quick ratio of 5.43, a current ratio of 6.79 and a debt-to-equity ratio of 0.31. Finisar Co. has a 12-month low of $15.81 and a 12-month high of $24.77.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, February 28th. The technology company reported $0.16 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The business had revenue of $327.64 million during the quarter, compared to analysts’ expectations of $343.27 million. Finisar had a negative net margin of 4.48% and a positive return on equity of 2.56%. Sell-side analysts expect that Finisar Co. will post 0.55 EPS for the current fiscal year.

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About Finisar

Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.

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Institutional Ownership by Quarter for Finisar (NASDAQ:FNSR)

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