Hsbc Holdings PLC lowered its stake in shares of Finisar Co. (NASDAQ:FNSR) by 9.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 16,478 shares of the technology company’s stock after selling 1,769 shares during the period. Hsbc Holdings PLC’s holdings in Finisar were worth $356,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bessemer Group Inc. acquired a new position in Finisar in the fourth quarter valued at approximately $43,000. Bank of Montreal Can lifted its holdings in Finisar by 57.3% in the fourth quarter. Bank of Montreal Can now owns 3,535 shares of the technology company’s stock valued at $76,000 after acquiring an additional 1,288 shares during the last quarter. Capital Investment Advisory Services LLC acquired a new position in Finisar in the fourth quarter valued at approximately $119,000. NumerixS Investment Technologies Inc acquired a new position in Finisar in the fourth quarter valued at approximately $127,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Finisar during the fourth quarter worth $221,000. Institutional investors and hedge funds own 96.17% of the company’s stock.
A number of research firms have commented on FNSR. BidaskClub cut Finisar from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Zacks Investment Research upgraded Finisar from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Thursday, January 3rd. Finally, ValuEngine lowered Finisar from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. Twelve analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $25.29.
Finisar (NASDAQ:FNSR) last released its quarterly earnings data 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 negative net margin of 4.48% and a positive return on equity of 2.56%. The company had revenue of $327.64 million during the quarter, compared to the consensus estimate of $343.27 million. As a group, sell-side analysts anticipate that Finisar Co. will post 0.55 earnings per share for the current 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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