California State Teachers Retirement System Grows Stake in Finisar Co. (NASDAQ:FNSR)

California State Teachers Retirement System lifted its position in Finisar Co. (NASDAQ:FNSR) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,341 shares of the technology company’s stock after purchasing an additional 3,779 shares during the period. California State Teachers Retirement System owned about 0.16% of Finisar worth $3,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in FNSR. Bessemer Group Inc. bought a new stake in shares of Finisar in the 4th quarter worth about $43,000. Oregon Public Employees Retirement Fund bought a new stake in shares of Finisar in the 4th quarter worth about $45,000. Bank of Montreal Can lifted its holdings in shares of Finisar by 57.3% in the 4th quarter. Bank of Montreal Can now owns 3,535 shares of the technology company’s stock worth $76,000 after acquiring an additional 1,288 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Finisar in the 4th quarter worth about $119,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Finisar in the 4th quarter worth about $127,000. 96.17% of the stock is owned by hedge funds and other institutional investors.

FNSR has been the subject of several analyst reports. BidaskClub lowered shares of Finisar from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 24th. Zacks Investment Research upgraded shares of Finisar from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, January 3rd. Finally, ValuEngine lowered shares of Finisar from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $25.29.

Shares of Finisar stock remained flat at $$24.31 on Friday. 1,444,591 shares of the stock were exchanged, compared to its average volume of 1,261,230. The stock has a market cap of $2.87 billion, a P/E ratio of 75.97, a P/E/G ratio of 3.67 and a beta of 1.41. Finisar Co. has a 52-week low of $14.90 and a 52-week high of $24.77. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.43 and a current ratio of 6.79.

Finisar (NASDAQ:FNSR) last released its earnings results on Thursday, February 28th. The technology company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Finisar had a negative net margin of 4.48% and a positive return on equity of 2.56%. The company had revenue of $327.64 million for the quarter, compared to the consensus estimate of $343.27 million. As a group, equities research analysts expect that Finisar Co. will post 0.55 earnings per share for the current fiscal year.

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About Finisar

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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