Pacad Investment Ltd. Sells 28,389 Shares of Finisar Corporation (FNSR)
Pacad Investment Ltd. decreased its holdings in Finisar Corporation (NASDAQ:FNSR) by 83.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,500 shares of the technology company’s stock after selling 28,389 shares during the quarter. Pacad Investment Ltd.’s holdings in Finisar Corporation were worth $143,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Fortaleza Asset Management Inc. bought a new position in Finisar Corporation in the 2nd quarter valued at about $138,000. Westside Investment Management Inc. bought a new position in Finisar Corporation in the 1st quarter valued at about $150,000. Quantitative Systematic Strategies LLC bought a new position in Finisar Corporation in the 2nd quarter valued at about $202,000. Oppenheimer & Co. Inc. bought a new position in Finisar Corporation in the 1st quarter valued at about $231,000. Finally, Ballentine Partners LLC bought a new position in Finisar Corporation in the 2nd quarter valued at about $241,000. 86.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of Finisar Corporation (NASDAQ FNSR) opened at 21.87 on Friday. The company has a 50 day moving average of $23.93 and a 200-day moving average of $25.77. The company has a market cap of $2.49 billion, a PE ratio of 10.29 and a beta of 1.33. Finisar Corporation has a 12-month low of $20.16 and a 12-month high of $36.85.
Finisar Corporation (NASDAQ:FNSR) last issued its quarterly earnings data on Thursday, September 7th. The technology company reported $0.40 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.40. The company had revenue of $341.80 million for the quarter, compared to the consensus estimate of $341.22 million. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Equities research analysts anticipate that Finisar Corporation will post $1.49 earnings per share for the current year.
Several equities analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and issued a $38.00 price target on shares of Finisar Corporation in a research report on Sunday, June 18th. Northland Securities reaffirmed a “buy” rating and issued a $40.00 price target on shares of Finisar Corporation in a research report on Friday, July 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 price target on shares of Finisar Corporation in a research report on Saturday, July 22nd. Zacks Investment Research cut shares of Finisar Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Finally, DA Davidson assumed coverage on shares of Finisar Corporation in a research report on Thursday, June 29th. They issued a “buy” rating and a $40.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, ten have issued a buy rating and three have given a strong buy rating to the company. Finisar Corporation has an average rating of “Buy” and an average price target of $32.87.
In related news, SVP Mark Colyar sold 2,244 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $27.31, for a total transaction of $61,283.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Jerry S. Rawls sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the chairman now owns 815,188 shares in the company, valued at approximately $21,137,824.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,763 shares of company stock worth $2,488,011. 1.02% of the stock is owned by insiders.
Finisar Corporation 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.
Want to see what other hedge funds are holding FNSR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Finisar Corporation (NASDAQ:FNSR).
Receive News & Stock Ratings for Finisar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar Corporation and related stocks with our FREE daily email newsletter.