Lisanti Capital Growth LLC Sells 21,815 Shares of Fabrinet (NYSE:FN)

Lisanti Capital Growth LLC decreased its stake in shares of Fabrinet (NYSE:FN) by 51.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 20,695 shares of the technology company’s stock after selling 21,815 shares during the quarter. Lisanti Capital Growth LLC owned 0.06% of Fabrinet worth $3,939,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Campbell Newman Asset Management Inc. increased its stake in Fabrinet by 0.4% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock valued at $3,406,000 after acquiring an additional 64 shares during the period. Signaturefd LLC increased its stake in Fabrinet by 15.9% in the third quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock valued at $84,000 after acquiring an additional 69 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Fabrinet by 3.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock valued at $368,000 after acquiring an additional 75 shares during the period. Sequoia Financial Advisors LLC increased its stake in Fabrinet by 3.2% in the third quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company’s stock valued at $399,000 after acquiring an additional 75 shares during the period. Finally, Mariner LLC increased its stake in Fabrinet by 2.1% in the third quarter. Mariner LLC now owns 4,103 shares of the technology company’s stock valued at $684,000 after acquiring an additional 85 shares during the period. Institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of the sale, the director now owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The sale 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 insiders.

Fabrinet Price Performance

Shares of FN stock traded up $9.61 during trading hours on Monday, reaching $188.83. 894,074 shares of the company were exchanged, compared to its average volume of 454,132. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 27.29 and a beta of 1.04. The stock’s fifty day moving average is $189.62 and its two-hundred day moving average is $185.43. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. The business had revenue of $712.69 million during the quarter, compared to the consensus estimate of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. On average, research analysts anticipate that Fabrinet will post 7.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on FN shares. Rosenblatt Securities reissued a “buy” rating and issued a $230.00 target price on shares of Fabrinet in a research note on Tuesday, February 6th. Needham & Company LLC reduced their price target on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $159.57.

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.