Northern Trust Corp increased its stake in Finisar Co. (NASDAQ:FNSR) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,898,275 shares of the technology company’s stock after acquiring an additional 7,611 shares during the period. Northern Trust Corp owned about 2.47% of Finisar worth $62,603,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fisher Asset Management LLC lifted its stake in shares of Finisar by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 3,739,179 shares of the technology company’s stock valued at $80,766,000 after acquiring an additional 16,259 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in Finisar by 55.0% during the 3rd quarter. MetLife Investment Advisors LLC now owns 82,015 shares of the technology company’s stock valued at $1,562,000 after purchasing an additional 29,114 shares during the period. Hsbc Holdings PLC purchased a new position in Finisar during the 3rd quarter valued at about $348,000. Teachers Advisors LLC increased its holdings in Finisar by 2.6% during the 3rd quarter. Teachers Advisors LLC now owns 260,892 shares of the technology company’s stock valued at $4,970,000 after purchasing an additional 6,544 shares during the period. Finally, SG Americas Securities LLC increased its holdings in Finisar by 43.4% during the 4th quarter. SG Americas Securities LLC now owns 78,401 shares of the technology company’s stock valued at $1,693,000 after purchasing an additional 23,740 shares during the period. 95.04% of the stock is owned by institutional investors.
In other Finisar news, EVP Julie Sheridan Eng sold 1,489 shares of the company’s stock in a transaction that occurred on Tuesday, December 18th. The stock was sold at an average price of $21.74, for a total transaction of $32,370.86. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.11% of the stock is currently owned by corporate insiders.
A number of research analysts recently issued reports on FNSR shares. Morgan Stanley boosted their price target on Finisar from $20.00 to $25.00 and gave the company an “equal weight” rating in a report on Tuesday, December 4th. Jefferies Financial Group downgraded Finisar from a “buy” rating to a “hold” rating in a report on Thursday, December 6th. MKM Partners restated a “neutral” rating and set a $24.00 price target on shares of Finisar in a report on Thursday, December 6th. BidaskClub upgraded Finisar from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 8th. Finally, Loop Capital boosted their price target on Finisar to $23.00 and gave the company a “hold” rating in a report on Tuesday, December 18th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $25.29.
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Finisar Corporation provides components and subsystems to networking equipment manufacturers, data center operators, telecom service providers, consumer electronics, and automotive companies in the United States, China, Malaysia, and internationally. The company'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 wireline networks comprising switches, routers, and servers, as well as wireless networks, such as antennas and base stations.
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