True Bearing Asset Management Lp Lowers stake in Finisar Corporation (FNSR)

Finisar Corporation (FNSR) : True Bearing Asset Management Lp reduced its stake in Finisar Corporation by 15.29% during the most recent quarter end. The investment management company now holds a total of 55,410 shares of Finisar Corporation which is valued at $1,091,577 after selling 10,000 shares in Finisar Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Finisar Corporation makes up approximately 2.63% of True Bearing Asset Management Lp’s portfolio.

Other Hedge Funds, Including , Ellington Management Group sold out all of its stake in FNSR during the most recent quarter. The investment firm sold 12,700 shares of FNSR which is valued $250,190.Algert Global boosted its stake in FNSR in the latest quarter, The investment management firm added 26,596 additional shares and now holds a total of 45,726 shares of Finisar Corporation which is valued at $900,802. Finisar Corporation makes up approx 0.34% of Algert Global’s portfolio.Kennedy Capital Management reduced its stake in FNSR by selling 365,327 shares or 92.71% in the most recent quarter. The Hedge Fund company now holds 28,710 shares of FNSR which is valued at $565,587. Finisar Corporation makes up approx 0.01% of Kennedy Capital Management’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in FNSR in the latest quarter, The investment management firm added 73,530 additional shares and now holds a total of 2,707,191 shares of Finisar Corporation which is valued at $53,331,663. Finisar Corporation makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio. Nordea Investment Management Ab added FNSR to its portfolio by purchasing 125,500 company shares during the most recent quarter which is valued at $2,388,265. Finisar Corporation makes up approx 0.01% of Nordea Investment Management Ab’s portfolio.

Finisar Corporation opened for trading at $21.26 and hit $22.2 on the upside on Thursday, eventually ending the session at $22.01, with a gain of 3.92% or 0.83 points. The heightened volatility saw the trading volume jump to 23,46,758 shares. Company has a market cap of $2,371 M.

On the company’s financial health, Finisar Corporation reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jun 16, 2016. Analyst had a consensus of $0.25. The company had revenue of $318.80 million for the quarter, compared to analysts expectations of $317.88 million. The company’s revenue was down -.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.25 EPS.

Many Wall Street Analysts have commented on Finisar Corporation. Stifel Upgraded Finisar Corporation on Sep 6, 2016 to ” Buy”, Price Target of the shares are set at $28.Company shares were Reiterated by Needham on Sep 6, 2016 to “Buy”, Firm has raised the Price Target to $ 28 from a previous price target of $24 .Company shares were Reiterated by Needham on Jun 17, 2016 to “Buy”, Firm has raised the Price Target to $ 24 from a previous price target of $22 .

Finisar Corporation (Finisar) is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The Company’s optical subsystems consist of transmitters receivers transceivers transponders optical engines and active optical cables that provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in communication networks including the switches routers and servers used in wireline networks as well as the antennas and base stations used in wireless networks. These products rely on the use of semiconductor lasers and photodetectors in conjunction with integrated circuits and optoelectronic packaging to provide a means for transmitting and receiving digital signals over fiber optic cable at speeds ranging from less than one gigabit per second to more than 100 gigabits per second over distances of less than 10 meters to more than 2000 kilometers.

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