Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Ken Griffin And Citadel Add to Their Position in Finisar Corporation (FNSR)

Ken Griffin and Citadel Investment Group are betting big on Finisar Corporation (NASDAQ:FNSR). Griffin started building the position in the third quarter of 2013. According to their latest 13F filing, the fund held 2.7 million shares at the end of September. In a recent filing with the Securities and Exchange Commission, Citadel revealed an 87% increase in their stake to a little over 5 million shares. The current position accounts for 5.2% of the company’s common stock.

Finisar Corporation (NASDAQ:FNSR)

Ken Fisher shares Ken Griffin’s optimism about Finisar Corporation (NASDAQ:FNSR). His fund, Fisher Asset Management, has slightly increased its stake in the company and reported, at the end of September, ownership of 4.5 million shares worth approximately $102.5 million. Christopher Zepf and Brian Thonn have also increased their fund’s holding of this stock. Kingdom Ridge Capital reported in its latest 13F filing the ownership of 1.55 million Finisar shares valued at $35 million. This position accounts for 12.72% of the fund’s equity portfolio. Daniel Benton has also joined the Finisar fan club. His fund, Andor Capital Management, currently owns 1 million shares reportedly worth $22.6 million.

Finisar Corporation (NASDAQ:FNSR) engages in the production of data and telecommunication devices in the United States. So far this year, the stock has advanced 26% and is currently trading at $20.97 per share. The company has a market cap of $2 billion and does not pay a dividend. The stock is trading at a trailing Price to Earnings (P/E) ratio of 73.53 and a beta of 1.97.

Finisar Corporation is set to release financial report for the latest quarter today, December 5th, after market close. Analysts expect revenues of $288 million and earnings of $0.39 per share. For the three months ended July 28, 2013, the company reported revenues of $266 million and Earnings Per diluted Share (EPS) of $0.26.

Disclosure: none

Recommended reading:

Cannell Capital Reveals Moves In ValueVision Media Inc (VVTV), and Hooper Holmes, Inc. (HH)

Mario Gabelli, GAMCO Are Bullish on Nathan’s Famous, Inc. (NATH)

American International Group Inc (AIG), Citigroup Inc (C) Among 5 Financial Stocks That Hedge Funds Love

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!