Fabrinet (NYSE:FN) Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC lifted its position in shares of Fabrinet (NYSE:FN) by 9.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,271 shares of the technology company’s stock after purchasing an additional 107 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Fabrinet were worth $279,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FN. Huntington National Bank grew its stake in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after buying an additional 57 shares during the period. NBC Securities Inc. boosted its position in Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Fabrinet in the 3rd quarter valued at $52,000. UMB Bank n.a. increased its holdings in Fabrinet by 252.9% in the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock valued at $57,000 after purchasing an additional 172 shares in the last quarter. Finally, Eastern Bank purchased a new position in Fabrinet in the third quarter valued at about $59,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FN shares. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC assumed coverage on Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target for the company. Finally, Barclays assumed coverage on shares of Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $252.14.

Fabrinet Stock Up 0.8 %

Shares of NYSE FN opened at $208.37 on Thursday. The business has a 50 day moving average price of $232.02 and a two-hundred day moving average price of $235.41. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The firm has a market cap of $7.56 billion, a PE ratio of 24.66 and a beta of 0.93.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The business had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. During the same quarter last year, the company earned $1.78 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, analysts anticipate that Fabrinet will post 9.1 earnings per share for the current year.

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.