Commonwealth Equity Services Inc bought a new position in Finisar Corporation (NASDAQ:FNSR) during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 21,214 shares of the technology company’s stock, valued at approximately $470,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors boosted its stake in shares of Finisar by 2.7% in the 2nd quarter. Capital Research Global Investors now owns 13,651,050 shares of the technology company’s stock worth $354,654,000 after buying an additional 359,709 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Finisar by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,908,237 shares of the technology company’s stock worth $231,435,000 after buying an additional 208,692 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Finisar 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 buying an additional 107,680 shares during the last quarter. State Street Corp boosted its stake in shares of Finisar by 5.9% in the 2nd quarter. State Street Corp now owns 2,199,440 shares of the technology company’s stock worth $57,141,000 after buying an additional 121,724 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Finisar by 33.8% in the 3rd quarter. Victory Capital Management Inc. now owns 1,500,821 shares of the technology company’s stock worth $33,274,000 after buying an additional 379,473 shares during the last quarter. Hedge funds and other institutional investors own 91.44% of the company’s stock.

Shares of Finisar Corporation (NASDAQ:FNSR) opened at $19.26 on Friday. The company has a quick ratio of 6.24, a current ratio of 7.66 and a debt-to-equity ratio of 0.44. The company has a market cap of $2,278.89, a P/E ratio of 11.98, a P/E/G ratio of 1.41 and a beta of 1.15. Finisar Corporation has a 1-year low of $17.80 and a 1-year high of $36.85.

Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, September 7th. The technology company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. Finisar had a net margin of 16.92% and a return on equity of 13.11%. The company had revenue of $341.80 million for the quarter, compared to analysts’ expectations of $341.22 million. During the same quarter in the previous year, the firm posted $0.38 EPS. Finisar’s revenue was up .1% on a year-over-year basis. analysts expect that Finisar Corporation will post 1.04 earnings per share for the current fiscal year.

In other Finisar news, Chairman Jerry S. Rawls sold 20,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $22.89, for a total transaction of $457,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Roger C. Ferguson sold 2,726 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $21.46, for a total transaction of $58,499.96. Following the sale, the director now directly owns 44,034 shares in the company, valued at approximately $944,969.64. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

A number of equities analysts have recently weighed in on FNSR shares. DA Davidson restated a “buy” rating and issued a $40.00 target price on shares of Finisar in a research note on Thursday, September 7th. ValuEngine downgraded Finisar from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Piper Jaffray Companies restated a “buy” rating and issued a $30.00 target price (down previously from $32.00) on shares of Finisar in a research note on Tuesday, September 5th. Northland Securities set a $40.00 target price on Finisar and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $28.50 price target (down previously from $34.00) on shares of Finisar in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company. Finisar currently has an average rating of “Buy” and an average price target of $31.35.

ILLEGAL ACTIVITY WARNING: This piece was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another publication, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/12/02/commonwealth-equity-services-inc-buys-new-position-in-finisar-corporation-fnsr.html.

About Finisar

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 (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.