Lisanti Capital Growth LLC lifted its stake in shares of Fabrinet (NYSE:FN – Free Report) by 162.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 42,510 shares of the technology company’s stock after purchasing an additional 26,305 shares during the quarter. Lisanti Capital Growth LLC owned about 0.12% of Fabrinet worth $7,083,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in FN. Raymond James Financial Services Advisors Inc. boosted its position in shares of Fabrinet by 3.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock worth $368,000 after buying an additional 75 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Fabrinet by 39.9% in the 1st quarter. NewEdge Advisors LLC now owns 417 shares of the technology company’s stock worth $50,000 after buying an additional 119 shares in the last quarter. Evergreen Capital Management LLC boosted its position in shares of Fabrinet by 6.2% in the 1st quarter. Evergreen Capital Management LLC now owns 2,142 shares of the technology company’s stock worth $225,000 after buying an additional 125 shares in the last quarter. Ellsworth Advisors LLC boosted its position in shares of Fabrinet by 4.0% in the 2nd quarter. Ellsworth Advisors LLC now owns 3,308 shares of the technology company’s stock worth $430,000 after buying an additional 126 shares in the last quarter. Finally, Royal Bank of Canada boosted its position in shares of Fabrinet by 2.0% in the 3rd quarter. Royal Bank of Canada now owns 6,466 shares of the technology company’s stock worth $617,000 after buying an additional 126 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.
Fabrinet Stock Up 5.5 %
Shares of FN stock traded up $10.59 during trading hours on Friday, hitting $201.96. 516,892 shares of the company were exchanged, compared to its average volume of 195,132. The firm has a market cap of $7.34 billion, a PE ratio of 29.96 and a beta of 1.06. Fabrinet has a 1 year low of $90.19 and a 1 year high of $202.71. The firm has a fifty day moving average of $179.64 and a 200 day moving average of $159.09.
Fabrinet (NYSE:FN – Get Free Report) last posted its earnings results on Monday, November 6th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.64 by $0.14. The firm had revenue of $685.48 million during the quarter, compared to the consensus estimate of $659.33 million. Fabrinet had a net margin of 9.28% and a return on equity of 17.54%. Analysts expect that Fabrinet will post 7.52 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Thomas F. Kelly sold 3,235 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $166.75, for a total transaction of $539,436.25. Following the completion of the sale, the director now owns 29,797 shares of the company’s stock, valued at approximately $4,968,649.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fabrinet news, Director Thomas F. Kelly sold 3,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $171.31, for a total value of $513,930.00. Following the completion of the sale, the director now owns 36,532 shares of the company’s stock, valued at $6,258,296.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas F. Kelly sold 3,235 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $166.75, for a total transaction of $539,436.25. Following the completion of the sale, the director now directly owns 29,797 shares of the company’s stock, valued at approximately $4,968,649.75. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on FN shares. StockNews.com started coverage on shares of Fabrinet in a report on Thursday, October 5th. They issued a “hold” rating on the stock. JPMorgan Chase & Co. lowered shares of Fabrinet from an “overweight” rating to a “neutral” rating and upped their target price for the company from $185.00 to $210.00 in a report on Monday, January 8th. Royal Bank of Canada upped their target price on shares of Fabrinet from $40.00 to $42.00 and gave the company a “sector perform” rating in a report on Wednesday, November 1st. Finally, Rosenblatt Securities started coverage on shares of Fabrinet in a report on Thursday, October 5th. They issued a “buy” rating and a $230.00 target price on the stock. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.89.
About Fabrinet
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.