Texas Permanent School Fund Buys 39,585 Shares of Finisar Co. (FNSR)

Texas Permanent School Fund boosted its stake in shares of Finisar Co. (NASDAQ:FNSR) by 51.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,413 shares of the technology company’s stock after purchasing an additional 39,585 shares during the quarter. Texas Permanent School Fund’s holdings in Finisar were worth $2,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Investors Research Corp acquired a new stake in Finisar in the first quarter worth about $37,000. Bessemer Group Inc. purchased a new position in Finisar during the fourth quarter valued at approximately $43,000. Oregon Public Employees Retirement Fund purchased a new position in Finisar during the fourth quarter valued at approximately $45,000. Versant Capital Management Inc raised its position in Finisar by 117.2% during the first quarter. Versant Capital Management Inc now owns 2,604 shares of the technology company’s stock valued at $60,000 after acquiring an additional 1,405 shares in the last quarter. Finally, Bank of Montreal Can raised its position in Finisar by 57.3% during 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 in the last quarter. 93.41% of the stock is currently owned by institutional investors.

A number of research firms have recently commented on FNSR. BidaskClub upgraded Finisar from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Zacks Investment Research cut Finisar from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $25.29.

NASDAQ FNSR opened at $22.03 on Friday. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 68.84, a P/E/G ratio of 2.10 and a beta of 1.41. The company has a current ratio of 6.79, a quick ratio of 5.43 and a debt-to-equity ratio of 0.31. Finisar Co. has a fifty-two week low of $15.81 and a fifty-two week high of $24.77.

Finisar (NASDAQ:FNSR) last released its quarterly earnings data on Thursday, February 28th. The technology company reported $0.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.16. Finisar had a positive return on equity of 2.56% and a negative net margin of 4.48%. The company had revenue of $327.64 million for the quarter, compared to analyst estimates of $343.27 million. Equities analysts anticipate that Finisar Co. will post 0.55 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This story was originally reported by Modern Readers and is owned by of Modern Readers. If you are accessing this story on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark legislation. The original version of this story can be read at https://www.modernreaders.com/news/2019/05/17/texas-permanent-school-fund-buys-39585-shares-of-finisar-co-fnsr.html.

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.

Featured Article: What are popular range trading strategies?

Want to see what other hedge funds are holding FNSR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Finisar Co. (NASDAQ:FNSR).

Institutional Ownership by Quarter for Finisar (NASDAQ:FNSR)

Receive News & Ratings for Finisar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Finisar and related companies with MarketBeat.com's FREE daily email newsletter.