Finisar Corp (NASDAQ:FNSR) Move as Institutional Investors’ Sentiment Worsens

Finisar Corporation (NASDAQ:FNSR) Logo

Sentiment for Finisar Corp (NASDAQ:FNSR)

Finisar Corp (NASDAQ:FNSR) institutional sentiment decreased to 1 in 2018 Q4. Its down -0.06, from 1.06 in 2018Q3. The ratio dropped, as 95 hedge funds increased and opened new equity positions, while 95 decreased and sold holdings in Finisar Corp. The hedge funds in our partner’s database now have: 105.10 million shares, down from 110.77 million shares in 2018Q3. Also, the number of hedge funds holding Finisar Corp in their top 10 equity positions increased from 1 to 2 for an increase of 1. Sold All: 35 Reduced: 60 Increased: 54 New Position: 41.

Finisar Corporation provides optical subsystems and components for data communication and telecommunication applications in the United States, China, Malaysia, and internationally. The company has market cap of $2.54 billion. The companyÂ’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 networks comprising switches, routers, and servers used in wireline networks, as well as antennas and base stations used in wireless networks. It currently has negative earnings. It also offers wavelength selective switches that are used to switch network traffic from one optical fiber to various other fibers without converting to an electronic signal.

The stock decreased 2.13% or $0.47 during the last trading session, reaching $21.56. About 2.66 million shares traded or 86.48% up from the average. Finisar Corporation (NASDAQ:FNSR) has risen 37.56% since May 17, 2018 and is uptrending. It has outperformed by 33.19% the S&P500.

Analysts await Finisar Corporation (NASDAQ:FNSR) to report earnings on June, 13. They expect $0.15 earnings per share, up 850.00 % or $0.17 from last year’s $-0.02 per share. FNSR’s profit will be $17.69M for 35.93 P/E if the $0.15 EPS becomes a reality. After $0.16 actual earnings per share reported by Finisar Corporation for the previous quarter, Wall Street now forecasts -6.25 % negative EPS growth.

Alpine Associates Management Inc. holds 3.57% of its portfolio in Finisar Corporation for 3.96 million shares. Magnetar Financial Llc owns 5.82 million shares or 3.09% of their US portfolio. Moreover, Kopp Investment Advisors Llc has 2.92% invested in the company for 138,372 shares. The Illinois-based Gallagher Fiduciary Advisors Llc has invested 2.84% in the stock. 1492 Capital Management Llc, a Wisconsin-based fund reported 71,435 shares.

Since January 1, 0001, it had 0 insider buys, and 1 sale for $32,367 activity.

Finisar Corporation (NASDAQ:FNSR) Ratings Coverage

Ratings analysis reveals 20% of Finisar’s analysts are positive. Out of 5 Wall Street analysts rating Finisar, 1 give it “Buy”, 0 “Sell” rating, while 4 recommend “Hold”. The lowest target is $24 while the high is $25. The stock’s average target of $24.88 is 15.40% above today’s ($21.56) share price. FNSR was included in 7 notes of analysts from December 4, 2018. M Partners maintained the stock with “Hold” rating in Friday, March 1 report. The stock of Finisar Corporation (NASDAQ:FNSR) earned “Neutral” rating by M Partners on Thursday, December 6. On Friday, March 1 the stock rating was maintained by Piper Jaffray with “Buy”. Jefferies downgraded the shares of FNSR in report on Thursday, December 6 to “Hold” rating. The firm has “Hold” rating by FBR Capital given on Friday, March 1. Morgan Stanley maintained Finisar Corporation (NASDAQ:FNSR) on Tuesday, December 4 with “Equal-Weight” rating.

More notable recent Finisar Corporation (NASDAQ:FNSR) news were published by: Fool.com which released: “II-VI Looks Forward to Finishing Finisar Deal – The Motley Fool” on February 01, 2019, also Globenewswire.com with their article: “Finisar Unveils Leading-Edge Products and Technology Solutions for Next-Generation Optical Networks at OFC 2019 – GlobeNewswire” published on March 05, 2019, Globenewswire.com published: “Finisar Experts to Speak at 2019 OFC Conference and OIDA Executive Forum – GlobeNewswire” on February 25, 2019. More interesting news about Finisar Corporation (NASDAQ:FNSR) were released by: Seekingalpha.com and their article: “Merger Arbitrage Mondays – New Higher Offer For Anadarko – Seeking Alpha” published on May 06, 2019 as well as Seekingalpha.com‘s news article titled: “Shareholders Approve The Merger Of II-VI Inc. And Finisar – Seeking Alpha” with publication date: May 16, 2019.

Finisar Corporation (NASDAQ:FNSR) Institutional Positions Chart

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