One68 Global Capital LLC acquired a new stake in Finisar Co. (NASDAQ:FNSR) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 79,835 shares of the technology company’s stock, valued at approximately $1,826,000. Finisar comprises 2.3% of One68 Global Capital LLC’s portfolio, making the stock its 8th biggest position. One68 Global Capital LLC owned about 0.07% of Finisar at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alpine Associates Management Inc. grew its stake in Finisar by 40.2% during the 1st quarter. Alpine Associates Management Inc. now owns 5,554,400 shares of the technology company’s stock worth $128,694,000 after buying an additional 1,593,766 shares during the last quarter. ARP Americas LP grew its stake in Finisar by 274.8% during the 1st quarter. ARP Americas LP now owns 996,498 shares of the technology company’s stock worth $23,089,000 after buying an additional 730,646 shares during the last quarter. IndexIQ Advisors LLC grew its stake in Finisar by 28.5% during the 1st quarter. IndexIQ Advisors LLC now owns 1,760,414 shares of the technology company’s stock worth $40,789,000 after buying an additional 390,313 shares during the last quarter. State of Wisconsin Investment Board grew its stake in Finisar by 127.0% during the 1st quarter. State of Wisconsin Investment Board now owns 603,200 shares of the technology company’s stock worth $13,976,000 after buying an additional 337,500 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in Finisar during the 1st quarter worth approximately $3,985,000. Institutional investors and hedge funds own 95.37% of the company’s stock.
Finisar stock traded down $0.61 during mid-day trading on Friday, reaching $22.33. 1,452,315 shares of the company were exchanged, compared to its average volume of 1,275,980. The company has a debt-to-equity ratio of 0.32, a quick ratio of 5.72 and a current ratio of 7.12. The firm’s 50-day simple moving average is $23.10 and its two-hundred day simple moving average is $23.13. The firm has a market cap of $2.75 billion, a PE ratio of 37.85, a price-to-earnings-growth ratio of 2.63 and a beta of 1.50. Finisar Co. has a twelve month low of $15.81 and a twelve month high of $24.77.
Finisar (NASDAQ:FNSR) last posted its quarterly earnings results on Thursday, June 13th. The technology company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.15 by $0.04. The business had revenue of $310.09 million during the quarter, compared to analysts’ expectations of $323.42 million. Finisar had a positive return on equity of 4.22% and a negative net margin of 4.16%. As a group, equities research analysts anticipate that Finisar Co. will post 0.73 EPS for the current year.
A number of research firms recently issued reports on FNSR. Stifel Nicolaus set a $23.00 price target on Finisar and gave the stock a “hold” rating in a research note on Friday, June 14th. MKM Partners decreased their price objective on Finisar to $23.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. B. Riley reaffirmed a “neutral” rating on shares of Finisar in a research report on Friday, June 14th. Zacks Investment Research cut Finisar from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 2nd. Finally, BidaskClub raised Finisar from a “hold” rating to a “buy” rating in a research report on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Finisar currently has an average rating of “Hold” and an average price target of $25.34.
Finisar Company Profile
Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies in the United States, China, Malaysia, and internationally. The company's optical subsystems primarily include transmitters, receivers, transceivers, transponders, and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.
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