Finisar Co. (FNSR) Position Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its position in shares of Finisar Co. (NASDAQ:FNSR) by 102.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,936,130 shares of the technology company’s stock after purchasing an additional 2,496,574 shares during the period. Bank of New York Mellon Corp owned 4.21% of Finisar worth $88,850,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA boosted its holdings in Finisar by 87.4% during the second quarter. Glenmede Trust Co. NA now owns 1,547,161 shares of the technology company’s stock valued at $27,848,000 after acquiring an additional 721,583 shares during the period. Granahan Investment Management Inc. MA boosted its holdings in Finisar by 14.6% during the second quarter. Granahan Investment Management Inc. MA now owns 106,954 shares of the technology company’s stock valued at $1,925,000 after acquiring an additional 13,656 shares during the period. Kopp Investment Advisors LLC boosted its holdings in Finisar by 17.9% during the second quarter. Kopp Investment Advisors LLC now owns 143,273 shares of the technology company’s stock valued at $2,579,000 after acquiring an additional 21,765 shares during the period. Voya Investment Management LLC boosted its holdings in Finisar by 49.1% during the second quarter. Voya Investment Management LLC now owns 1,722,536 shares of the technology company’s stock valued at $31,006,000 after acquiring an additional 567,318 shares during the period. Finally, Formula Growth Ltd. boosted its holdings in Finisar by 42.7% during the second quarter. Formula Growth Ltd. now owns 942,596 shares of the technology company’s stock valued at $16,967,000 after acquiring an additional 282,000 shares during the period.

In related news, Director Jerry S. Rawls sold 40,000 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $19.24, for a total value of $769,600.00. Following the completion of the transaction, the director now owns 483,258 shares of the company’s stock, valued at $9,297,883.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry S. Rawls sold 30,208 shares of the stock in a transaction dated Thursday, November 1st. The stock was sold at an average price of $16.77, for a total transaction of $506,588.16. Following the completion of the transaction, the director now directly owns 486,379 shares of the company’s stock, valued at approximately $8,156,575.83. The disclosure for this sale can be found here. Insiders sold 113,208 shares of company stock valued at $2,083,508 in the last three months. Company insiders own 1.11% of the company’s stock.

Shares of FNSR opened at $21.79 on Friday. The stock has a market cap of $2.00 billion, a PE ratio of 68.09, a P/E/G ratio of 2.95 and a beta of 1.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.65 and a quick ratio of 2.98. Finisar Co. has a 52 week low of $14.25 and a 52 week high of $25.41.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, September 6th. The technology company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.06. The business had revenue of $317.30 million during the quarter, compared to analyst estimates of $315.77 million. Finisar had a negative net margin of 6.71% and a positive return on equity of 1.24%. The firm’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. Equities analysts predict that Finisar Co. will post 0.47 EPS for the current year.

A number of equities research analysts have issued reports on the stock. Piper Jaffray Companies cut shares of Finisar from an “overweight” rating to a “neutral” rating in a report on Friday. Goldman Sachs Group upgraded shares of Finisar from a “sell” rating to a “neutral” rating in a report on Friday. DA Davidson cut shares of Finisar from a “buy” rating to a “hold” rating in a report on Friday. Barclays restated a “hold” rating and set a $24.00 price target on shares of Finisar in a report on Sunday, September 9th. Finally, Morgan Stanley lowered shares of Finisar from an “overweight” rating to an “equal weight” rating and set a $20.00 price objective for the company. in a research report on Thursday, September 13th. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $23.46.

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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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Institutional Ownership by Quarter for Finisar (NASDAQ:FNSR)

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