DekaBank Deutsche Girozentrale Sells 3,000 Shares of Fabrinet (NYSE:FN)

DekaBank Deutsche Girozentrale reduced its stake in Fabrinet (NYSE:FN - Free Report) by 3.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 79,088 shares of the technology company's stock after selling 3,000 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.22% of Fabrinet worth $15,348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wayfinding Financial LLC purchased a new stake in Fabrinet during the first quarter valued at about $30,000. Private Trust Co. NA lifted its holdings in Fabrinet by 44.3% during the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after purchasing an additional 51 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Fabrinet by 353.7% during the first quarter. Versant Capital Management Inc now owns 186 shares of the technology company's stock valued at $37,000 after purchasing an additional 145 shares during the last quarter. Huntington National Bank lifted its holdings in Fabrinet by 66.7% during the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after purchasing an additional 92 shares during the last quarter. Finally, Quarry LP lifted its holdings in Fabrinet by 315.8% during the fourth quarter. Quarry LP now owns 237 shares of the technology company's stock valued at $52,000 after purchasing an additional 180 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total value of $4,482,000.00. Following the transaction, the chief operating officer directly owned 18,068 shares in the company, valued at approximately $4,336,320. This represents a 50.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction that occurred 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 transaction, the director owned 23,201 shares in the company, valued at approximately $5,196,559.98. This trade represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by corporate insiders.

Fabrinet Trading Up 0.7%

Shares of Fabrinet stock traded up $2.02 on Friday, reaching $291.27. The stock had a trading volume of 444,977 shares, compared to its average volume of 649,327. Fabrinet has a 1 year low of $148.55 and a 1 year high of $300.29. The company has a market cap of $10.44 billion, a P/E ratio of 32.44 and a beta of 1.04. The business's 50 day moving average is $250.27 and its two-hundred day moving average is $224.76.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.47 by $0.05. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The firm 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 firm posted $2.39 earnings per share. The company's revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities analysts anticipate that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $178.00 to $176.00 in a report on Friday, April 4th. Barclays set a $234.00 price objective on shares of Fabrinet and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Wolfe Research assumed coverage on shares of Fabrinet in a report on Tuesday. They set a "peer perform" rating on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $247.50.

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.