Polar Capital Holdings Plc Decreases Position in Fabrinet (NYSE:FN)

Polar Capital Holdings Plc lowered its position in Fabrinet (NYSE:FN - Free Report) by 40.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 209,294 shares of the technology company's stock after selling 139,331 shares during the period. Polar Capital Holdings Plc owned 0.58% of Fabrinet worth $46,020,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Fabrinet by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock worth $909,771,000 after purchasing an additional 113,186 shares in the last quarter. FMR LLC lifted its position in shares of Fabrinet by 13.1% in the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock valued at $486,789,000 after acquiring an additional 257,164 shares in the last quarter. Wasatch Advisors LP lifted its position in shares of Fabrinet by 47.0% in the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock valued at $249,044,000 after acquiring an additional 362,064 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Fabrinet by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock valued at $221,430,000 after acquiring an additional 20,045 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Fabrinet by 1.4% in the fourth quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock valued at $147,201,000 after acquiring an additional 9,058 shares in the last quarter. Institutional investors own 97.38% of the company's stock.

Fabrinet Trading Up 0.1%

Shares of NYSE FN traded up $0.19 during trading on Tuesday, reaching $227.96. 179,785 shares of the company traded hands, compared to its average volume of 624,096. The firm's fifty day simple moving average is $203.54 and its 200 day simple moving average is $218.84. The stock has a market cap of $8.17 billion, a P/E ratio of 25.50 and a beta of 0.95. Fabrinet has a 12-month low of $148.55 and a 12-month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.47 by $0.05. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The company had revenue of $871.80 million during the quarter, compared to analyst estimates of $857.12 million. During the same period in the previous year, the business earned $2.39 EPS. Fabrinet's quarterly revenue was up 19.2% on a year-over-year basis. As a group, research analysts expect that Fabrinet will post 9.4 EPS for the current year.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 2,500 shares of Fabrinet stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total transaction of $559,950.00. Following the sale, the director now owns 23,201 shares in the company, valued at approximately $5,196,559.98. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

FN has been the topic of several research analyst reports. Barclays set a $234.00 price objective on Fabrinet and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and decreased their target price for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Rosenblatt Securities boosted their target price on Fabrinet from $230.00 to $250.00 and gave the stock a "buy" 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 target price on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research 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 company. Based on data from MarketBeat, Fabrinet currently has an average rating of "Hold" and a consensus price target of $239.29.

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.