Nisa Investment Advisors LLC Reduces Stock Holdings in Fabrinet (NYSE:FN)

Nisa Investment Advisors LLC lowered its position in shares of Fabrinet (NYSE:FN) by 12.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,086 shares of the technology company’s stock after selling 151 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Fabrinet were worth $207,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FN. Bank of Montreal Can lifted its position in Fabrinet by 9.7% during the 1st quarter. Bank of Montreal Can now owns 11,292 shares of the technology company’s stock worth $1,217,000 after acquiring an additional 998 shares during the period. Rhumbline Advisers lifted its position in Fabrinet by 6.6% during the 1st quarter. Rhumbline Advisers now owns 90,911 shares of the technology company’s stock worth $9,557,000 after acquiring an additional 5,603 shares during the period. BlackRock Inc. lifted its holdings in shares of Fabrinet by 0.4% in the 1st quarter. BlackRock Inc. now owns 5,594,458 shares of the technology company’s stock valued at $588,146,000 after buying an additional 24,058 shares during the period. Yousif Capital Management LLC lifted its holdings in shares of Fabrinet by 1.1% in the 1st quarter. Yousif Capital Management LLC now owns 34,565 shares of the technology company’s stock valued at $3,634,000 after buying an additional 365 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Fabrinet by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 4,173,594 shares of the technology company’s stock valued at $438,770,000 after buying an additional 30,481 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Rollance E. Olson sold 10,000 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of the transaction, the director now owns 25,981 shares of the company’s stock, valued at approximately $5,339,615.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.51% of the stock is currently owned by insiders.

Fabrinet Trading Down 1.7 %

NYSE FN opened at $162.32 on Friday. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 23.46 and a beta of 1.04. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02. The stock has a 50-day moving average of $194.70 and a 200 day moving average of $185.23.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. The company had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. Equities analysts predict that Fabrinet will post 7.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FN has been the subject of several analyst reports. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $200.00 to $220.00 in a report on Thursday, March 21st. Rosenblatt Securities reissued a “buy” rating and issued a $230.00 price objective on shares of Fabrinet in a report on Tuesday, February 6th. Needham & Company LLC decreased their price objective on Fabrinet from $230.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, JPMorgan Chase & Co. boosted their price objective on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.57.

Fabrinet Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical, and electronic manufacturing services in North America, the Asia-Pacific, and Europe. The company offers a range of advanced optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, advanced packaging, integration, final assembly, and testing.