BNP Paribas Financial Markets Sells 7,452 Shares of Fabrinet (NYSE:FN)

BNP Paribas Financial Markets decreased its stake in shares of Fabrinet (NYSE:FN - Free Report) by 36.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 13,062 shares of the technology company's stock after selling 7,452 shares during the quarter. BNP Paribas Financial Markets' holdings in Fabrinet were worth $2,872,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Algert Global LLC boosted its stake in shares of Fabrinet by 92.9% in the 4th quarter. Algert Global LLC now owns 55,296 shares of the technology company's stock valued at $12,158,000 after purchasing an additional 26,633 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in shares of Fabrinet by 66.7% during the fourth quarter. Alyeska Investment Group L.P. now owns 263,067 shares of the technology company's stock worth $57,843,000 after buying an additional 105,230 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Fabrinet by 177.9% in the fourth quarter. AQR Capital Management LLC now owns 93,089 shares of the technology company's stock valued at $20,014,000 after acquiring an additional 59,594 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its holdings in shares of Fabrinet by 10.2% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 76,647 shares of the technology company's stock worth $16,853,000 after acquiring an additional 7,091 shares in the last quarter. Finally, Lido Advisors LLC grew its position in Fabrinet by 25.2% during the 4th quarter. Lido Advisors LLC now owns 1,161 shares of the technology company's stock worth $255,000 after acquiring an additional 234 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Wall Street Analysts Forecast Growth

FN has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price objective on the stock. Barclays set a $234.00 target price on Fabrinet and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Rosenblatt Securities raised their price target on Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $239.29.

Fabrinet Trading Up 0.7%

FN stock traded up $1.58 during trading hours on Wednesday, hitting $229.87. 48,183 shares of the stock were exchanged, compared to its average volume of 624,388. Fabrinet has a 12 month low of $148.55 and a 12 month high of $281.79. The firm has a market capitalization of $8.24 billion, a P/E ratio of 25.71 and a beta of 0.95. The company has a 50-day simple moving average of $203.62 and a two-hundred day simple moving average of $218.90.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.47 by $0.05. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The business had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. During the same period in the prior year, the company posted $2.39 earnings per share. Fabrinet's revenue was up 19.2% compared to the same quarter last year. On average, equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total transaction of $559,950.00. Following the completion of the sale, the director now directly owns 23,201 shares in the company, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.38% of the company's stock.

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.