Oregon Public Employees Retirement Fund Acquires 1,600 Shares of Finisar Co. (NASDAQ:FNSR)

Oregon Public Employees Retirement Fund raised its holdings in shares of Finisar Co. (NASDAQ:FNSR) by 3.5% in the second quarter, Holdings Channel.com reports. The firm owned 47,069 shares of the technology company’s stock after purchasing an additional 1,600 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Finisar were worth $1,076,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Finisar by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,923,975 shares of the technology company’s stock worth $214,358,000 after purchasing an additional 62,231 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Finisar in the fourth quarter valued at approximately $280,000. Norges Bank acquired a new position in shares of Finisar in the fourth quarter valued at approximately $25,944,000. State of Alaska Department of Revenue grew its holdings in shares of Finisar by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 39,738 shares of the technology company’s stock valued at $920,000 after purchasing an additional 500 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in Finisar in the first quarter worth approximately $330,000. 94.15% of the stock is owned by institutional investors and hedge funds.

FNSR traded down $0.26 during trading on Wednesday, hitting $22.54. The stock had a trading volume of 121,378 shares, compared to its average volume of 1,351,979. The company has a quick ratio of 5.72, a current ratio of 7.12 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 38.20, a P/E/G ratio of 2.51 and a beta of 1.50. The business has a 50-day moving average of $23.10. Finisar Co. has a twelve month low of $15.81 and a twelve month high of $24.77.

Finisar (NASDAQ:FNSR) last announced its quarterly earnings data on Thursday, June 13th. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04. The company had revenue of $310.09 million for the quarter, compared to analysts’ expectations of $323.42 million. Finisar had a negative net margin of 4.16% and a positive return on equity of 4.22%. As a group, analysts predict that Finisar Co. will post 0.73 earnings per share for the current year.

Several analysts have recently weighed in on FNSR shares. MKM Partners reduced their price objective on shares of Finisar to $23.00 and set a “neutral” rating for the company in a research report on Friday, June 14th. Stifel Nicolaus set a $23.00 price objective on shares of Finisar and gave the stock a “hold” rating in a research report on Friday, June 14th. B. Riley restated a “neutral” rating on shares of Finisar in a research report on Friday, June 14th. Zacks Investment Research downgraded shares of Finisar from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 2nd. Finally, BidaskClub upgraded shares of Finisar from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $25.40.

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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