Quentec Asset Management buys $20,830,051 stake in Finisar Corporation (FNSR)

Finisar Corporation (FNSR) : Quentec Asset Management scooped up 298,100 additional shares in Finisar Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,057,363 shares of Finisar Corporation which is valued at $20,830,051.Finisar Corporation makes up approximately 4.62% of Quentec Asset Management’s portfolio.

Other Hedge Funds, Including , Rainier Investment Management reduced its stake in FNSR by selling 20,890 shares or 5.84% in the most recent quarter. The Hedge Fund company now holds 336,990 shares of FNSR which is valued at $6,638,703. Finisar Corporation makes up approx 0.31% of Rainier Investment Management’s portfolio.Alliancebernstein boosted its stake in FNSR in the latest quarter, The investment management firm added 314,093 additional shares and now holds a total of 7,984,902 shares of Finisar Corporation which is valued at $157,302,569. Finisar Corporation makes up approx 0.13% of Alliancebernstein’s portfolio.Tiaa Cref Investment Management reduced its stake in FNSR by selling 320,987 shares or 37.18% in the most recent quarter. The Hedge Fund company now holds 542,417 shares of FNSR which is valued at $10,685,615. Finisar Corporation makes up approx 0.01% of Tiaa Cref Investment Management’s portfolio.Diam Ltd. reduced its stake in FNSR by selling 3,900 shares or 58.21% in the most recent quarter. The Hedge Fund company now holds 2,800 shares of FNSR which is valued at $52,248.Essex Investment Management Co reduced its stake in FNSR by selling 413 shares or 2.38% in the most recent quarter. The Hedge Fund company now holds 16,951 shares of FNSR which is valued at $320,204. Finisar Corporation makes up approx 0.05% of Essex Investment Management Co’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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