Is Finisar Corporation’s Latest Move For Real? The Stock Was Sold By Option Traders Today

 Is Finisar Corporation's Latest Move For Real? The Stock Was Sold By Option Traders Today

In today’s session Finisar Corporation (FNSR) recorded an unusually high (382) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious FNSR decrease. With 382 contracts traded and 1884 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: FNSR161021P00030000 closed last at: $0.5 or 9.1% down. About 376,356 shares traded hands. Finisar Corporation (NASDAQ:FNSR) has risen 104.13% since March 7, 2016 and is uptrending. It has outperformed by 96.54% the S&P500.

Finisar Corporation (NASDAQ:FNSR) Ratings Coverage

Out of 12 analysts covering Finisar Corporation (NASDAQ:FNSR), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. $36 is the highest target while $13.25 is the lowest. The $23.27 average target is -24.91% below today’s ($30.99) stock price. Finisar Corporation has been the topic of 29 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The stock of Finisar Corporation (NASDAQ:FNSR) earned “Buy” rating by B. Riley & Co on Friday, March 11. Northland Capital initiated the shares of FNSR in a report on Tuesday, August 18 with “Market Perform” rating. Barclays Capital maintained the stock with “Equalweight” rating in Friday, June 17 report. Barclays Capital maintained it with “Equal Weight” rating and $27 target price in Friday, September 9 report. RBC Capital Markets downgraded the shares of FNSR in a report on Wednesday, September 9 to “Sector Perform” rating. On Monday, September 19 the stock rating was maintained by Needham with “Buy”. The rating was maintained by M Partners on Friday, June 17 with “Neutral”. The firm has “Buy” rating by Needham given on Friday, September 11. The company was upgraded on Friday, March 11 by Craig Hallum. The firm earned “Buy” rating on Tuesday, September 6 by Stifel Nicolaus.

According to Zacks Investment Research, “FINISAR CORP. is a provider of fiber optic subsystems and network test and monitoring systems which enable high-speed data communications over local area networks, or LANs, storage area networks, or SANs, and metropolitan access networks, or MANs. They are focused on the application of digital fiber optics to provide aline of high-performance, reliable, value-added optical subsystems for data networking and storage equipment manufacturers.”

Insitutional Activity: The institutional sentiment increased to 1.54 in Q2 2016. Its up 0.15, from 1.39 in 2016Q1. The ratio improved, as 22 funds sold all Finisar Corporation shares owned while 46 reduced positions. 32 funds bought stakes while 73 increased positions. They now own 99.67 million shares or 1.76% more from 97.95 million shares in 2016Q1.
Fmr Ltd holds 0% or 168,500 shares in its portfolio. The Virginia-based Virginia Retirement Sys Et Al has invested 0.01% in Finisar Corporation (NASDAQ:FNSR). Voloridge Investment Mgmt Limited Liability Company holds 0.03% or 57,903 shares in its portfolio. Barrow Hanley Mewhinney And Strauss Limited Company holds 0.01% or 235,331 shares in its portfolio. Spot Trading Ltd Liability accumulated 21,527 shares or 0.01% of the stock. The Ohio-based Victory Capital has invested 0% in Finisar Corporation (NASDAQ:FNSR). Checchi Advisers Ltd Com has invested 0% of its portfolio in Finisar Corporation (NASDAQ:FNSR). Citadel Advsr owns 2.42 million shares or 0.05% of their US portfolio. Sentinel Asset, a Vermont-based fund reported 925,216 shares. Paradigm Inc Ny has 501,450 shares for 1.07% of their US portfolio. Paloma Prtn owns 28,864 shares or 0.01% of their US portfolio. Raymond James & has 18,796 shares for 0% of their US portfolio. Peak6 Invs Ltd Partnership holds 0.01% or 83,997 shares in its portfolio. Los Angeles Mngmt And Equity Rech Inc has invested 0% of its portfolio in Finisar Corporation (NASDAQ:FNSR). Rech Glob accumulated 12.82 million shares or 0.08% of the stock.

Insider Transactions: Since July 21, 2016, the stock had 0 insider purchases, and 21 insider sales for $8.12 million net activity. 6,183 shares were sold by Swanson Todd, worth $175,388 on Thursday, September 15. Young Joseph A also sold $138,434 worth of Finisar Corporation (NASDAQ:FNSR) on Monday, August 15. 2,853 Finisar Corporation (NASDAQ:FNSR) shares with value of $82,880 were sold by FERGUSON ROGER C. $412,020 worth of Finisar Corporation (NASDAQ:FNSR) shares were sold by Brown Christopher. $857,532 worth of Finisar Corporation (NASDAQ:FNSR) was sold by RAWLS JERRY S on Tuesday, September 20. Colyar Mark sold $813,919 worth of Finisar Corporation (NASDAQ:FNSR) on Friday, August 19. 17,325 shares were sold by CLARK JOHN H, worth $467,254.

Finisar Corporation is a provider of optical subsystems and components that are used in data communication and telecommunication applications. The company has a market cap of $3.39 billion. The Company’s optical subsystems consist of transmitters, receivers, transceivers, transponders and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these networks, including the switches, routers, and servers used in wireline networks. It has a 60.94 P/E ratio.

FNSR Company Profile

Finisar Corporation (Finisar), incorporated on October 1, 1999, is a well-known 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 and active optical cables, which provide the fundamental optical-electrical or optoelectronic interface for interconnecting the electronic equipment used in these 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 (Gbps), to more than 100 Gbps, over distances of less than 10 meters to more than 2,000 kilometers, using a range of network protocols and physical configurations.

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