Nisa Investment Advisors LLC Sells 119 Shares of Fabrinet (NYSE:FN)

Nisa Investment Advisors LLC lowered its position in Fabrinet (NYSE:FN) by 9.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,152 shares of the technology company’s stock after selling 119 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Fabrinet were worth $228,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in FN. HighTower Advisors LLC lifted its stake in shares of Fabrinet by 94.4% in the 4th quarter. HighTower Advisors LLC now owns 7,431 shares of the technology company’s stock valued at $1,634,000 after purchasing an additional 3,608 shares during the period. Swiss National Bank raised its holdings in Fabrinet by 0.7% in the fourth quarter. Swiss National Bank now owns 71,040 shares of the technology company’s stock valued at $15,620,000 after acquiring an additional 500 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Fabrinet by 11.0% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,940 shares of the technology company’s stock worth $866,000 after purchasing an additional 391 shares in the last quarter. Cibc World Markets Corp purchased a new position in Fabrinet in the 4th quarter valued at $750,000. Finally, Xponance Inc. lifted its holdings in Fabrinet by 6.9% in the fourth quarter. Xponance Inc. now owns 5,390 shares of the technology company’s stock valued at $1,185,000 after acquiring an additional 346 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Insiders Place Their Bets

In other Fabrinet news, COO Harpal Gill sold 18,675 shares of Fabrinet stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the transaction, the chief operating officer directly owned 18,068 shares of the company’s stock, valued at $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rollance E. Olson sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total transaction of $559,950.00. Following the completion of the sale, the director directly owned 23,201 shares in the company, valued at $5,196,559.98. This represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Fabrinet Trading Up 4.0%

FN opened at $309.31 on Friday. The company has a market cap of $11.08 billion, a P/E ratio of 34.44 and a beta of 1.04. Fabrinet has a 12 month low of $148.55 and a 12 month high of $310.16. The business’s 50-day moving average price is $257.47 and its 200-day moving average price is $227.00.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.47 by $0.05. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The business had revenue of $871.80 million during the quarter, compared to analyst estimates of $857.12 million. During the same period in the previous year, the business earned $2.39 EPS. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. Equities research analysts forecast that Fabrinet will post 9.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FN has been the subject of a number of research analyst reports. Rosenblatt Securities increased their target price on shares of Fabrinet from $250.00 to $290.00 and gave the stock a “buy” rating in a research report on Thursday, June 12th. Barclays set a $234.00 target price on Fabrinet and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. B. Riley upgraded Fabrinet from a “sell” rating to a “neutral” rating and reduced their price target for the company from $178.00 to $176.00 in a report on Friday, April 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $280.00 price target on shares of Fabrinet in a research report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price target on Fabrinet from $235.00 to $318.00 and gave the company a “neutral” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $261.33.

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.