Stevens Capital Management LP increased its position in Finisar Co. (NASDAQ:FNSR) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 394,345 shares of the technology company’s stock after purchasing an additional 22,199 shares during the quarter. Stevens Capital Management LP owned approximately 0.33% of Finisar worth $9,137,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the stock. State of Alaska Department of Revenue boosted its position in Finisar by 1.3% during the 1st quarter. State of Alaska Department of Revenue now owns 39,738 shares of the technology company’s stock valued at $920,000 after acquiring an additional 500 shares in the last quarter. Verity Asset Management Inc. raised its stake in Finisar by 2.0% in the 4th quarter. Verity Asset Management Inc. now owns 35,324 shares of the technology company’s stock worth $763,000 after acquiring an additional 707 shares during the last quarter. Comerica Bank raised its stake in Finisar by 0.7% in the 4th quarter. Comerica Bank now owns 114,307 shares of the technology company’s stock worth $2,464,000 after acquiring an additional 765 shares during the last quarter. CIBC Asset Management Inc raised its stake in Finisar by 6.1% in the 4th quarter. CIBC Asset Management Inc now owns 15,037 shares of the technology company’s stock worth $325,000 after acquiring an additional 862 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. raised its stake in Finisar by 3.4% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 27,936 shares of the technology company’s stock worth $603,000 after acquiring an additional 930 shares during the last quarter. 92.93% of the stock is currently owned by institutional investors.
FNSR stock traded down $0.25 during trading on Thursday, hitting $23.24. The stock had a trading volume of 84,138 shares, compared to its average volume of 1,404,729. The company has a current ratio of 6.79, a quick ratio of 5.43 and a debt-to-equity ratio of 0.31. Finisar Co. has a twelve month low of $15.81 and a twelve month high of $24.77. The stock has a market cap of $2.77 billion, a price-to-earnings ratio of 72.66, a PEG ratio of 2.23 and a beta of 1.41.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings data on Thursday, February 28th. The technology company reported $0.16 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Finisar had a positive return on equity of 2.56% and a negative net margin of 4.48%. The company had revenue of $327.64 million for the quarter, compared to analysts’ expectations of $343.27 million. As a group, equities analysts forecast that Finisar Co. will post 0.55 EPS for the current fiscal year.
A number of equities analysts recently issued reports on FNSR shares. BidaskClub lowered Finisar from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 24th. Zacks Investment Research lowered Finisar from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 2nd. One research 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. Finisar has an average rating of “Hold” and an average target price of $25.29.
ILLEGAL ACTIVITY NOTICE: “Finisar Co. (FNSR) Shares Bought by Stevens Capital Management LP” was first posted by Finance Daily and is the sole property of of Finance Daily. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.fidaily.com/2019/05/09/finisar-co-fnsr-shares-bought-by-stevens-capital-management-lp.html.
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.
Read More: Exchange-Traded Funds (ETFs)
Receive News & Ratings for Finisar Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Finisar and related companies with MarketBeat.com’s FREE daily email newsletter.