Ao Asset Management buys $21,011,160 stake in Finisar Corporation (FNSR)

Finisar Corporation (FNSR) : Ao Asset Management scooped up 127,000 additional shares in Finisar Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 1,126,000 shares of Finisar Corporation which is valued at $21,011,160.Finisar Corporation makes up approximately 5.18% of Ao Asset Management’s portfolio.

Other Hedge Funds, Including , Rothschild Asset Management Inc added FNSR to its portfolio by purchasing 1,072,965 company shares during the most recent quarter which is valued at $20,021,527. Finisar Corporation makes up approx 0.35% of Rothschild Asset Management Inc’s portfolio.Spot Trading L.l.c reduced its stake in FNSR by selling 3,562 shares or 14.2% in the most recent quarter. The Hedge Fund company now holds 21,527 shares of FNSR which is valued at $401,694. Finisar Corporation makes up approx 0.05% of Spot Trading L.l.c’s portfolio. Quantitative Systematic Strategies added FNSR to its portfolio by purchasing 12,814 company shares during the most recent quarter which is valued at $240,391. Finisar Corporation makes up approx 0.10% of Quantitative Systematic Strategies’s portfolio. Simplex Trading sold out all of its stake in FNSR during the most recent quarter. The investment firm sold 3,813 shares of FNSR which is valued $72,561.Dnb Asset Management As boosted its stake in FNSR in the latest quarter, The investment management firm added 95,585 additional shares and now holds a total of 2,050,340 shares of Finisar Corporation which is valued at $37,029,140. Finisar Corporation makes up approx 0.77% of Dnb Asset Management As’s portfolio.

Finisar Corporation opened for trading at $19.56 and hit $19.62 on the upside on Monday, eventually ending the session at $19.6, with a gain of 0.36% or 0.07 points. The heightened volatility saw the trading volume jump to 8,27,348 shares. Company has a market cap of $2,111 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. 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 .Company shares were Reiterated by MKM Partners on Jun 17, 2016 to “Neutral”, Firm has raised the Price Target to $ 21 from a previous price target of $19 .

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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