Penserra Capital Management LLC bought a new position in shares of Finisar Co. (NASDAQ:FNSR) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,864 shares of the technology company’s stock, valued at approximately $946,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of FNSR. Oregon Public Employees Retirement Fund grew its stake in shares of Finisar by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 45,469 shares of the technology company’s stock valued at $1,054,000 after buying an additional 821 shares in the last quarter. Mason Street Advisors LLC grew its stake in shares of Finisar by 3.9% in the first quarter. Mason Street Advisors LLC now owns 37,865 shares of the technology company’s stock valued at $877,000 after buying an additional 1,405 shares in the last quarter. New York State Teachers Retirement System grew its stake in shares of Finisar by 1.0% in the first quarter. New York State Teachers Retirement System now owns 47,958 shares of the technology company’s stock valued at $1,111,000 after buying an additional 467 shares in the last quarter. Delta Investment Management LLC bought a new position in shares of Finisar in the first quarter valued at $2,222,000. Finally, Everence Capital Management Inc. grew its stake in shares of Finisar by 29.9% in the first quarter. Everence Capital Management Inc. now owns 20,410 shares of the technology company’s stock valued at $473,000 after buying an additional 4,700 shares in the last quarter. 96.61% of the stock is owned by institutional investors and hedge funds.
FNSR has been the subject of several analyst reports. BidaskClub cut shares of Finisar from a “buy” rating to a “hold” rating in a research note on Thursday, April 25th. Zacks Investment Research cut shares of Finisar from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $25.29.
Shares of Finisar stock opened at $21.50 on Friday. Finisar Co. has a 1 year low of $15.81 and a 1 year high of $24.77. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 67.19, a price-to-earnings-growth ratio of 2.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.79 and a quick ratio of 5.43.
Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, February 28th. The technology company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. Finisar had a positive return on equity of 2.56% and a negative net margin of 4.48%. The business had revenue of $327.64 million during the quarter, compared to the consensus estimate of $343.27 million. On average, sell-side analysts forecast that Finisar Co. will post 0.55 EPS for the current fiscal year.
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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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