Lisanti Capital Growth LLC Buys Shares of 48,395 Fabrinet (FN)

Lisanti Capital Growth LLC bought a new stake in shares of Fabrinet (NYSE:FN) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 48,395 shares of the technology company’s stock, valued at approximately $2,239,000. Lisanti Capital Growth LLC owned approximately 0.13% of Fabrinet at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in Fabrinet by 342.5% during the first quarter. Russell Investments Group Ltd. now owns 21,333 shares of the technology company’s stock valued at $669,000 after buying an additional 16,512 shares during the period. Millennium Management LLC boosted its stake in Fabrinet by 20.1% during the first quarter. Millennium Management LLC now owns 9,353 shares of the technology company’s stock valued at $293,000 after buying an additional 1,565 shares during the period. Xact Kapitalforvaltning AB purchased a new stake in Fabrinet during the second quarter valued at about $226,000. James Investment Research Inc. purchased a new stake in Fabrinet during the second quarter valued at about $2,189,000. Finally, Northpointe Capital LLC purchased a new stake in Fabrinet during the second quarter valued at about $2,548,000. Hedge funds and other institutional investors own 99.66% of the company’s stock.

In related news, Director Rollance E. Olson sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $48.03, for a total transaction of $240,150.00. Following the transaction, the director now owns 48,303 shares in the company, valued at approximately $2,319,993.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David T. Mitchell sold 40,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $45.40, for a total value of $1,816,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 165,000 shares of company stock worth $7,727,350. 1.90% of the stock is owned by company insiders.

A number of research firms have weighed in on FN. Piper Jaffray Companies upgraded Fabrinet to an “overweight” rating and set a $56.00 price target on the stock in a research report on Tuesday. Stifel Nicolaus began coverage on Fabrinet in a research report on Monday, October 22nd. They set a “buy” rating and a $53.00 price target on the stock. Needham & Company LLC raised their price target on Fabrinet from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, September 5th. B. Riley downgraded Fabrinet from a “buy” rating to a “neutral” rating and set a $52.00 price target on the stock. in a research report on Tuesday, September 4th. Finally, Zacks Investment Research downgraded Fabrinet from a “buy” rating to a “hold” rating in a research report on Friday, August 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $50.17.

FN opened at $52.01 on Friday. The stock has a market capitalization of $1.84 billion, a PE ratio of 17.45, a P/E/G ratio of 1.37 and a beta of 0.68. The company has a current ratio of 3.00, a quick ratio of 2.21 and a debt-to-equity ratio of 0.08. Fabrinet has a 12 month low of $24.02 and a 12 month high of $54.70.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 5th. The technology company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.24. Fabrinet had a return on equity of 13.53% and a net margin of 6.54%. The firm had revenue of $377.00 million for the quarter, compared to the consensus estimate of $352.28 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, analysts predict that Fabrinet will post 2.8 earnings per share for the current year.

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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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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