Advisory Services Network LLC lessened its stake in shares of Finisar Co. (NASDAQ:FNSR) by 34.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,280 shares of the technology company’s stock after selling 1,720 shares during the period. Advisory Services Network LLC’s holdings in Finisar were worth $75,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Investors Research Corp bought a new stake in Finisar during the first quarter worth about $37,000. Supplemental Annuity Collective Trust of NJ raised its holdings in Finisar by 10.0% during the second quarter. Supplemental Annuity Collective Trust of NJ now owns 11,000 shares of the technology company’s stock worth $252,000 after acquiring an additional 1,000 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in Finisar during the first quarter worth about $313,000. Cerebellum GP LLC raised its holdings in Finisar by 14.7% during the first quarter. Cerebellum GP LLC now owns 14,156 shares of the technology company’s stock worth $328,000 after acquiring an additional 1,818 shares in the last quarter. Finally, KBC Group NV bought a new stake in Finisar during the second quarter worth about $385,000. Institutional investors and hedge funds own 95.37% of the company’s stock.
Several analysts recently issued reports on FNSR shares. MKM Partners dropped their target price on Finisar to $23.00 and set a “neutral” rating on the stock in a report on Friday, June 14th. Stifel Nicolaus set a $23.00 target price on Finisar and gave the stock a “hold” rating in a report on Friday, June 14th. Zacks Investment Research lowered Finisar from a “hold” rating to a “strong sell” rating in a report on Thursday, May 2nd. BidaskClub upgraded Finisar from a “hold” rating to a “buy” rating in a report on Monday, August 19th. Finally, B. Riley reissued a “neutral” rating on shares of Finisar in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $25.34.Shares of NASDAQ FNSR opened at $22.33 on Monday. The business’s 50 day moving average price is $23.10 and its two-hundred day moving average price is $23.13. The company has a market cap of $2.75 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 2.63 and a beta of 1.50. The company has a quick ratio of 5.72, a current ratio of 7.12 and a debt-to-equity ratio of 0.32. Finisar Co. has a twelve month low of $15.81 and a twelve month high of $24.77.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, June 13th. The technology company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $310.09 million for the quarter, compared to the consensus estimate of $323.42 million. Finisar had a positive return on equity of 4.22% and a negative net margin of 4.16%. As a group, research analysts anticipate that Finisar Co. will post 0.73 EPS for the current fiscal year.
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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