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

Nisa Investment Advisors LLC lessened its stake in shares of Fabrinet (NYSE:FN) by 6.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,164 shares of the technology company’s stock after selling 78 shares during the period. Nisa Investment Advisors LLC’s holdings in Fabrinet were worth $275,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in Fabrinet during the second quarter worth about $28,000. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet during the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC purchased a new stake in shares of Fabrinet during the 2nd quarter valued at approximately $49,000. NBC Securities Inc. raised its position in shares of Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after buying an additional 183 shares during the period. Finally, UMB Bank n.a. lifted its holdings in Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock valued at $57,000 after acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insiders Place Their Bets

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the transaction, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at $1,835,426.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the transaction, the chief financial officer now owns 19,347 shares of the company’s stock, valued at $5,223,690. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,728 shares of company stock worth $11,645,062 in the last ninety days. 0.38% of the stock is owned by corporate insiders.

Fabrinet Trading Up 7.2 %

FN stock opened at $246.72 on Thursday. The business’s fifty day moving average price is $238.55 and its 200 day moving average price is $231.81. Fabrinet has a 12-month low of $157.55 and a 12-month high of $278.38. The company has a market capitalization of $8.95 billion, a PE ratio of 30.46 and a beta of 0.95.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The company had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same period in the prior year, the firm earned $1.78 earnings per share. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. Research analysts predict that Fabrinet will post 9.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FN shares. Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday. They set a “buy” rating and a $280.00 target price for the company. Rosenblatt Securities increased their price target on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. B. Riley reduced their price objective on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their target price on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Fabrinet has an average rating of “Moderate Buy” and an average price target of $248.17.

Fabrinet Company 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.