Capital Investment Counsel Inc Trims Stake in Finisar Co. (FNSR)

Capital Investment Counsel Inc trimmed its holdings in Finisar Co. (NASDAQ:FNSR) by 38.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 38,900 shares of the technology company’s stock after selling 24,475 shares during the quarter. Capital Investment Counsel Inc’s holdings in Finisar were worth $840,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in FNSR. Bank of Montreal Can increased its stake in shares of Finisar by 57.3% during the fourth 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 period. Capital Investment Advisory Services LLC acquired a new position in shares of Finisar during the fourth quarter worth about $119,000. Cornerstone Wealth Management LLC acquired a new position in shares of Finisar during the third quarter worth about $210,000. First Mercantile Trust Co. increased its stake in shares of Finisar by 42.7% during the third quarter. First Mercantile Trust Co. now owns 12,070 shares of the technology company’s stock worth $230,000 after acquiring an additional 3,610 shares during the period. Finally, Cerebellum GP LLC increased its stake in shares of Finisar by 1,662.6% during the fourth quarter. Cerebellum GP LLC now owns 12,338 shares of the technology company’s stock worth $267,000 after acquiring an additional 11,638 shares during the period. 95.72% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently issued reports on FNSR shares. Needham & Company LLC dropped their price target on shares of Finisar to $48.00 and set a “buy” rating on the stock in a research note on Monday, November 12th. Zacks Investment Research upgraded shares of Finisar from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, October 16th. ValuEngine upgraded shares of Finisar from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. BidaskClub upgraded shares of Finisar from a “hold” rating to a “buy” rating in a research note on Tuesday, November 13th. Finally, Morgan Stanley upped their target price on shares of Finisar from $20.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 4th. Twelve research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.29.

In other news, Director Jerry S. Rawls sold 40,000 shares of the stock in a transaction that occurred on Tuesday, December 4th. The shares were sold at an average price of $23.03, for a total value of $921,200.00. Following the sale, the director now directly owns 416,171 shares in the company, valued at $9,584,418.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Julie Sheridan Eng sold 1,489 shares of the stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $21.74, for a total transaction of $32,370.86. The disclosure for this sale can be found here. Corporate insiders own 1.11% of the company’s stock.

Shares of FNSR opened at $22.70 on Monday. The company has a current ratio of 3.69, a quick ratio of 3.05 and a debt-to-equity ratio of 0.31. Finisar Co. has a twelve month low of $14.25 and a twelve month high of $23.68. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 70.94, a P/E/G ratio of 3.55 and a beta of 1.38.

Finisar (NASDAQ:FNSR) last issued its earnings results on Monday, December 3rd. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.16. Finisar had a negative net margin of 7.61% and a positive return on equity of 1.52%. The company had revenue of $325.42 million for the quarter, compared to analyst estimates of $327.84 million. Equities analysts anticipate that Finisar Co. will post 0.53 EPS for the current year.

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Finisar 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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