Nisa Investment Advisors LLC Sells 151 Shares of Fabrinet (NYSE:FN)

Nisa Investment Advisors LLC cut its holdings in Fabrinet (NYSE:FN) by 12.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FN. Park Place Capital Corp bought a new position in Fabrinet in the 4th quarter valued at approximately $26,000. Salem Investment Counselors Inc. bought a new position in shares of Fabrinet during the 4th quarter valued at $29,000. Federated Hermes Inc. lifted its holdings in shares of Fabrinet by 652.6% during the 3rd quarter. Federated Hermes Inc. now owns 429 shares of the technology company’s stock valued at $41,000 after buying an additional 372 shares during the period. Orion Capital Management LLC bought a new position in shares of Fabrinet during the 3rd quarter valued at $47,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Fabrinet by 39.9% during the 1st quarter. NewEdge Advisors LLC now owns 417 shares of the technology company’s stock valued at $50,000 after buying an additional 119 shares during the period. 97.38% of the stock is owned by institutional investors.

Fabrinet Price Performance

NYSE:FN opened at $162.32 on Friday. The firm 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 one year low of $90.19 and a one year high of $229.02. The business has a fifty day moving average price of $194.70 and a 200-day moving average price of $185.23.

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

Insiders Place Their Bets

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction 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 can be accessed through the SEC website. 0.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.