361 Capital adds Finisar Corporation (FNSR) to its portfolio

Finisar Corporation (FNSR) : 361 Capital added new position in Finisar Corporation during the most recent quarter end. The investment management firm now holds 3,764 shares of Finisar Corporation which is valued at $74,151 , the company said in a statement filed on Aug 15, 2016 with the SEC.Finisar Corporation makes up approximately 1.08% of 361 Capital’s portfolio.

Other Hedge Funds, Including , Arrowgrass Capital Partners (us) Lp sold out all of its stake in FNSR during the most recent quarter. The investment firm sold 98,638 shares of FNSR which is valued $1,943,169.Hsbc Holdings Plc reduced its stake in FNSR by selling 73 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 14,814 shares of FNSR which is valued at $291,836.Blackrock Advisors reduced its stake in FNSR by selling 160,584 shares or 76.1% in the most recent quarter. The Hedge Fund company now holds 50,434 shares of FNSR which is valued at $993,550. 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.

Finisar Corporation opened for trading at $23.27 and hit $23.65 on the upside on Wednesday, eventually ending the session at $23.65, with a gain of 4.46% or 1.01 points. The heightened volatility saw the trading volume jump to 2,559,832 shares. Company has a market cap of $2,547 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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