Tudor Investment Corp ET AL Has $1.44 Million Position in Finisar Corporation (FNSR)
Tudor Investment Corp ET AL increased its holdings in Finisar Corporation (NASDAQ:FNSR) by 10.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 55,479 shares of the technology company’s stock after acquiring an additional 5,140 shares during the period. Tudor Investment Corp ET AL’s holdings in Finisar Corporation were worth $1,441,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Fortaleza Asset Management Inc. purchased a new stake in Finisar Corporation in the second quarter valued at $138,000. PNC Financial Services Group Inc. lifted its stake in shares of Finisar Corporation by 43.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,912 shares of the technology company’s stock valued at $153,000 after purchasing an additional 1,805 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of Finisar Corporation in the 2nd quarter valued at $202,000. Thompson Davis & CO. Inc. acquired a new position in shares of Finisar Corporation in the 2nd quarter valued at $217,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Finisar Corporation in the 1st quarter valued at $231,000. 86.32% of the stock is owned by institutional investors.
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Shares of Finisar Corporation (FNSR) traded down 0.691% during midday trading on Tuesday, reaching $22.275. The company’s stock had a trading volume of 221,387 shares. Finisar Corporation has a 52 week low of $20.16 and a 52 week high of $36.85. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 10.477 and a beta of 1.31. The firm’s 50 day moving average is $22.80 and its 200 day moving average is $24.93.
Finisar Corporation (NASDAQ:FNSR) last posted its earnings results on Thursday, September 7th. The technology company reported $0.40 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. Finisar Corporation had a net margin of 16.92% and a return on equity of 13.11%. The business had revenue of $341.80 million for the quarter, compared to analyst estimates of $341.22 million. During the same quarter in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up .1% on a year-over-year basis. Equities analysts forecast that Finisar Corporation will post $1.49 EPS for the current fiscal year.
In other Finisar Corporation news, Chairman Jerry S. Rawls sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $27.58, for a total value of $689,500.00. Following the completion of the transaction, the chairman now owns 815,188 shares in the company, valued at approximately $22,482,885.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Todd Swanson sold 6,183 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 43,127 shares of company stock valued at $1,150,641. 1.02% of the stock is owned by insiders.
Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Finisar Corporation from a “hold” rating to a “sell” rating in a report on Monday, September 4th. Northland Securities set a $40.00 target price on shares of Finisar Corporation and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Piper Jaffray Companies reiterated a “buy” rating and set a $30.00 price target (down from $32.00) on shares of Finisar Corporation in a research report on Tuesday, September 5th. BidaskClub cut shares of Finisar Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $33.00 price target on shares of Finisar Corporation in a research note on Saturday, July 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Finisar Corporation has an average rating of “Buy” and an average price target of $32.60.
Finisar Corporation Company 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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