Short Interest in Finisar Co. (FNSR) Declines By 13.8%

Finisar Co. (NASDAQ:FNSR) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 11,618,370 shares, a decline of 13.8% from the January 12th total of 13,475,012 shares. Based on an average daily trading volume, of 3,650,683 shares, the days-to-cover ratio is currently 3.2 days. Currently, 10.4% of the company’s shares are short sold.

Finisar (NASDAQ FNSR) opened at $17.68 on Friday. The company has a quick ratio of 6.31, a current ratio of 7.81 and a debt-to-equity ratio of 0.44. Finisar has a one year low of $16.64 and a one year high of $36.41. The firm has a market cap of $2,020.00, a P/E ratio of 10.10, a price-to-earnings-growth ratio of 1.93 and a beta of 1.07.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings results on Thursday, December 7th. The technology company reported $0.23 earnings per share for the quarter, beating the Zacks’ 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 firm had revenue of $332.21 million for the quarter, compared to analyst estimates of $331.69 million. equities research analysts expect that Finisar will post 0.66 EPS for the current year.

In related news, EVP John H. Clark sold 6,186 shares of Finisar stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $24.90, for a total transaction of $154,031.40. Following the transaction, the executive vice president now owns 146,053 shares of the company’s stock, valued at approximately $3,636,719.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 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. In the last quarter, insiders have sold 62,578 shares of company stock valued at $1,273,865. 1.02% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in shares of Finisar in the fourth quarter worth $459,000. Royce & Associates LP lifted its position in shares of Finisar by 664.0% in the fourth quarter. Royce & Associates LP now owns 610,400 shares of the technology company’s stock worth $12,422,000 after purchasing an additional 530,500 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Finisar by 21.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 240,082 shares of the technology company’s stock worth $4,886,000 after purchasing an additional 42,685 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of Finisar by 10.5% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 212,297 shares of the technology company’s stock worth $4,320,000 after purchasing an additional 20,198 shares in the last quarter. Finally, Verity Asset Management Inc. lifted its position in shares of Finisar by 89.6% in the fourth quarter. Verity Asset Management Inc. now owns 25,150 shares of the technology company’s stock worth $452,000 after purchasing an additional 11,883 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Finisar from a “sell” rating to a “hold” rating in a research note on Thursday. ValuEngine lowered shares of Finisar from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Piper Jaffray Companies lowered shares of Finisar from an “overweight” rating to a “neutral” rating in a research note on Monday, January 29th. Stifel Nicolaus reduced their price objective 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 assumed coverage on shares of Finisar in a research note on Wednesday, November 1st. They set a “buy” rating and a $28.50 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price 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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