The Manufacturers Life Insurance Company Buys 42,685 Shares of Finisar Co. (FNSR)
The Manufacturers Life Insurance Company raised its stake in shares of Finisar Co. (NASDAQ:FNSR) by 21.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 240,082 shares of the technology company’s stock after acquiring an additional 42,685 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Finisar were worth $4,886,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Finisar by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 577,972 shares of the technology company’s stock worth $12,814,000 after purchasing an additional 11,110 shares during the period. Capital Management Associates NY bought a new position in shares of Finisar in the third quarter worth about $372,000. Nicholas Investment Partners LP increased its stake in shares of Finisar by 50.0% in the third quarter. Nicholas Investment Partners LP now owns 283,097 shares of the technology company’s stock worth $6,276,000 after purchasing an additional 94,422 shares during the period. Teachers Retirement System of The State of Kentucky increased its stake in shares of Finisar by 27.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 104,079 shares of the technology company’s stock worth $2,307,000 after purchasing an additional 22,725 shares during the period. Finally, American International Group Inc. increased its stake in shares of Finisar by 8.1% in the third quarter. American International Group Inc. now owns 74,816 shares of the technology company’s stock worth $1,659,000 after purchasing an additional 5,594 shares during the period. Institutional investors and hedge funds own 92.46% of the company’s stock.
Shares of Finisar Co. (NASDAQ FNSR) opened at $19.31 on Friday. Finisar Co. has a 1 year low of $16.64 and a 1 year high of $29.41. The firm has a market capitalization of $2,214.19, a PE ratio of 23.26, a P/E/G ratio of 2.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.44, a quick ratio of 6.31 and a current ratio of 7.81.
A number of equities analysts have recently commented on FNSR shares. Raymond James Financial reiterated an “outperform” rating on shares of Finisar in a research note on Monday, March 5th. Zacks Investment Research lowered Finisar from a “hold” rating to a “sell” rating in a research note on Wednesday, December 13th. ValuEngine upgraded Finisar from a “hold” rating to a “buy” rating in a research note on Thursday, January 25th. Piper Jaffray Companies lifted their price objective on Finisar from $22.00 to $28.00 in a research note on Wednesday, December 13th. Finally, Barclays set a $25.00 price objective on Finisar and gave the stock a “hold” rating in a research note on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $26.25.
In other Finisar news, SVP Mark Colyar sold 1,692 shares of Finisar stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $22.15, for a total transaction of $37,477.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Jerry S. Rawls sold 30,209 shares of Finisar stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $17.94, for a total value of $541,949.46. The disclosure for this sale can be found here. Insiders have sold 62,578 shares of company stock worth $1,273,865 over the last ninety days. Company insiders own 1.02% of the company’s stock.
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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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