Finisar Co. (FNSR) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank
Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Finisar Co. (NASDAQ:FNSR) by 1,038.3% during the fourth quarter, Holdings Channel reports. The fund owned 40,728 shares of the technology company’s stock after buying an additional 37,150 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Finisar were worth $829,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FNSR. Pinnacle Associates Ltd. purchased a new position in Finisar in the third quarter valued at about $28,033,000. Dimensional Fund Advisors LP boosted its stake in Finisar by 10.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,832,951 shares of the technology company’s stock valued at $107,146,000 after acquiring an additional 471,882 shares during the last quarter. Formula Growth Ltd. boosted its stake in Finisar by 130.6% in the third quarter. Formula Growth Ltd. now owns 830,000 shares of the technology company’s stock valued at $18,401,000 after acquiring an additional 470,000 shares during the last quarter. SG Capital Management LLC purchased a new position in Finisar in the third quarter valued at about $9,713,000. Finally, DnB Asset Management AS boosted its stake in Finisar by 22.9% in the fourth quarter. DnB Asset Management AS now owns 2,248,526 shares of the technology company’s stock valued at $45,758,000 after acquiring an additional 419,120 shares during the last quarter. Hedge funds and other institutional investors own 88.49% of the company’s stock.
In other Finisar news, EVP John H. Clark sold 6,186 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total value of $154,031.40. Following the sale, the executive vice president now directly owns 146,053 shares in the company, valued at approximately $3,636,719.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry S. Rawls sold 30,209 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $17.94, for a total transaction of $541,949.46. The disclosure for this sale can be found here. Insiders sold a total of 62,578 shares of company stock worth $1,273,865 over the last quarter. Corporate insiders own 1.02% of the company’s stock.
Finisar (NASDAQ:FNSR) last posted its earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.03. Finisar had a net margin of 14.33% and a return on equity of 9.51%. The business had revenue of $332.21 million for the quarter, compared to analysts’ expectations of $331.69 million. equities analysts anticipate that Finisar Co. will post 0.66 earnings per share for the current fiscal year.
A number of research firms have weighed in on FNSR. Zacks Investment Research upgraded shares of Finisar from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. ValuEngine cut shares of Finisar from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Piper Jaffray Companies cut shares of Finisar from an “overweight” rating to a “neutral” rating in a research note on Monday, January 29th. Stifel Nicolaus dropped their price target on shares of Finisar from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Finally, Jefferies Group began coverage on shares of Finisar in a research note on Wednesday, November 1st. They set a “buy” rating and a $28.50 price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $27.27.
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Finisar 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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