Harvest Fund Management Co. Ltd trimmed its holdings in shares of Finisar Corporation (NASDAQ:FNSR) by 95.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,000 shares of the technology company’s stock after selling 190,000 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Finisar Corporation were worth $260,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Fortaleza Asset Management Inc. purchased a new stake in Finisar Corporation during the 2nd quarter worth $138,000. Westside Investment Management Inc. purchased a new stake in Finisar Corporation during the 1st quarter worth $150,000. PNC Financial Services Group Inc. boosted its position in Finisar Corporation by 43.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock worth $153,000 after purchasing an additional 1,805 shares during the period. Quantitative Systematic Strategies LLC purchased a new stake in Finisar Corporation during the 2nd quarter worth $202,000. Finally, Thompson Davis & CO. Inc. purchased a new stake in Finisar Corporation during the 2nd quarter worth $217,000. 86.38% of the stock is owned by hedge funds and other institutional investors.

In other Finisar Corporation news, EVP Todd Swanson sold 6,183 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $27.36, for a total value of $169,166.88. Following the sale, the executive vice president now directly owns 221,924 shares in the company, valued at approximately $6,071,840.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark Colyar sold 2,244 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $27.31, for a total transaction of $61,283.64. The disclosure for this sale can be found here. Insiders sold a total of 92,763 shares of company stock worth $2,488,011 over the last 90 days. Company insiders own 1.02% of the company’s stock.

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Shares of Finisar Corporation (NASDAQ:FNSR) traded up 2.10% during midday trading on Friday, hitting $21.87. 3,594,452 shares of the stock were exchanged. The firm has a market cap of $2.49 billion, a P/E 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. The stock’s 50 day moving average is $23.93 and its 200 day moving average is $25.77.

Finisar Corporation (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.40. The company had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. On average, equities research analysts forecast that Finisar Corporation will post $1.49 earnings per share for the current fiscal year.

A number of analysts recently weighed in on FNSR shares. William Blair reaffirmed an “outperform” rating on shares of Finisar Corporation in a research report on Thursday. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $32.00 price target (down from $37.00) on shares of Finisar Corporation in a research report on Friday, September 8th. MKM Partners reaffirmed a “buy” rating and set a $31.00 price target (down from $33.00) on shares of Finisar Corporation in a research report on Monday, September 11th. Northland Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Finisar Corporation in a research report on Friday, July 28th. Finally, DA Davidson reaffirmed a “buy” rating and set a $40.00 price target on shares of Finisar Corporation in a research report on Thursday, September 7th. 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 stock presently has an average rating of “Buy” and an average price target of $32.87.

About Finisar Corporation

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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