Dimensional Fund Advisors LP Has $113.30 Million Position in Finisar Corporation (FNSR)
Dimensional Fund Advisors LP lessened its position in Finisar Corporation (NASDAQ:FNSR) by 3.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,361,069 shares of the technology company’s stock after selling 135,078 shares during the period. Dimensional Fund Advisors LP owned approximately 3.91% of Finisar Corporation worth $113,302,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Finisar Corporation by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock valued at $231,435,000 after purchasing an additional 208,692 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Finisar Corporation by 3.0% during the 1st quarter. Renaissance Technologies LLC now owns 4,287,000 shares of the technology company’s stock valued at $117,207,000 after purchasing an additional 126,400 shares during the period. Northern Trust Corp grew its position in Finisar Corporation by 3.8% in the 2nd quarter. Northern Trust Corp now owns 2,907,058 shares of the technology company’s stock worth $75,525,000 after purchasing an additional 107,680 shares during the last quarter. Wellington Management Group LLP grew its position in Finisar Corporation by 302.4% in the 1st quarter. Wellington Management Group LLP now owns 2,828,356 shares of the technology company’s stock worth $77,327,000 after purchasing an additional 2,125,445 shares during the last quarter. Finally, State Street Corp grew its position in Finisar Corporation by 3.6% in the 1st quarter. State Street Corp now owns 2,077,716 shares of the technology company’s stock worth $56,802,000 after purchasing an additional 71,736 shares during the last quarter. Hedge funds and other institutional investors own 86.32% of the company’s stock.
Several equities research analysts have commented on the stock. B. Riley restated a “buy” rating and issued a $38.00 price target on shares of Finisar Corporation in a research note on Thursday, June 8th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $34.00 price target (down previously from $44.00) on shares of Finisar Corporation in a report on Friday, September 8th. Zacks Investment Research upgraded Finisar Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Jefferies Group LLC reiterated a “buy” rating and set a $34.00 price objective on shares of Finisar Corporation in a research report on Monday, June 12th. Finally, William Blair reissued an “ourperform” rating on shares of Finisar Corporation in a report on Thursday, September 7th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. Finisar Corporation has an average rating of “Buy” and an average price target of $32.60.
Shares of Finisar Corporation (FNSR) opened at 22.17 on Monday. The firm has a market capitalization of $2.52 billion, a P/E ratio of 10.43 and a beta of 1.31. The firm has a 50-day moving average of $23.65 and a 200-day moving average of $25.48. Finisar Corporation has a one year low of $20.16 and a one year high of $36.85.
Finisar Corporation (NASDAQ:FNSR) last released its earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. The company had revenue of $341.80 million during the quarter, compared to analysts’ expectations of $341.22 million. Finisar Corporation had a return on equity of 13.11% and a net margin of 16.92%. The business’s revenue for the quarter was up .1% on a year-over-year basis. During the same period last year, the firm earned $0.38 EPS. On average, equities analysts predict that Finisar Corporation will post $1.49 earnings per share for the current fiscal year.
In other Finisar Corporation news, EVP Todd Swanson sold 6,183 shares of the business’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $27.36, for a total transaction of $169,166.88. Following the completion of the sale, the executive vice president now directly owns 221,924 shares of the company’s stock, valued at approximately $6,071,840.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jerry S. Rawls sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $27.58, for a total value of $689,500.00. Following the sale, the chairman now directly owns 815,188 shares of the company’s stock, valued at $22,482,885.04. The disclosure for this sale can be found here. Insiders have sold 43,127 shares of company stock worth $1,150,641 in the last ninety days. 1.02% of the stock is currently 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.
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