Icon Advisers Inc. Co. reduced its holdings in Finisar Corporation (NASDAQ:FNSR) by 63.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 23,000 shares of the technology company’s stock after selling 39,800 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Finisar Corporation were worth $598,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FNSR. Vanguard Group Inc. increased its holdings in shares of Finisar Corporation by 4.7% during the first quarter. Vanguard Group Inc. now owns 8,699,545 shares of the technology company’s stock valued at $237,845,000 after acquiring an additional 387,949 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Finisar Corporation by 3.0% during the first quarter. Renaissance Technologies LLC now owns 4,287,000 shares of the technology company’s stock valued at $117,207,000 after acquiring an additional 126,400 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Finisar Corporation by 302.4% during the first quarter. Wellington Management Group LLP now owns 2,828,356 shares of the technology company’s stock valued at $77,327,000 after acquiring an additional 2,125,445 shares in the last quarter. State Street Corp increased its holdings in shares of Finisar Corporation by 3.6% during the first quarter. State Street Corp now owns 2,077,716 shares of the technology company’s stock valued at $56,802,000 after acquiring an additional 71,736 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of Finisar Corporation by 21.0% during the first quarter. Teachers Advisors LLC now owns 1,659,925 shares of the technology company’s stock valued at $45,382,000 after acquiring an additional 287,755 shares in the last quarter. Institutional investors and hedge funds own 86.32% of the company’s stock.

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In related news, Chairman Jerry S. Rawls sold 25,000 shares of Finisar Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $27.58, for a total transaction of $689,500.00. Following the transaction, the chairman now directly owns 815,188 shares in the company, valued at $22,482,885.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger C. Ferguson sold 3,000 shares of Finisar Corporation stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $27.14, for a total value of $81,420.00. Following the transaction, the director now owns 31,328 shares in the company, valued at $850,241.92. The disclosure for this sale can be found here. Insiders have sold 92,014 shares of company stock worth $2,467,091 over the last quarter. 1.02% of the stock is owned by company insiders.

Finisar Corporation (FNSR) opened at 22.40 on Tuesday. Finisar Corporation has a 12 month low of $20.16 and a 12 month high of $36.85. The stock has a market cap of $2.55 billion, a PE ratio of 10.54 and a beta of 1.33. The stock’s 50 day moving average price is $23.79 and its 200-day moving average price is $25.57.

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

Several research firms have recently commented on FNSR. B. Riley restated a “buy” rating and set a $38.00 price objective on shares of Finisar Corporation in a report on Sunday, June 18th. Northland Securities restated a “buy” rating and set a $40.00 price objective on shares of Finisar Corporation in a report on Friday, July 28th. Stifel Nicolaus restated a “buy” rating and set a $33.00 price objective on shares of Finisar Corporation in a report on Saturday, July 22nd. Zacks Investment Research cut Finisar Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Finally, DA Davidson initiated coverage on Finisar Corporation in a research report on Thursday, June 29th. They set a “buy” rating and a $40.00 target price on the stock. Two 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’s stock. The stock currently has an average rating of “Buy” and an average price target of $32.60.

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.

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Institutional Ownership by Quarter for Finisar Corporation (NASDAQ:FNSR)

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