Diversified Trust Co Sells 3,653 Shares of Fabrinet (NYSE:FN)

Diversified Trust Co reduced its stake in shares of Fabrinet (NYSE:FN - Free Report) by 44.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,598 shares of the technology company's stock after selling 3,653 shares during the quarter. Diversified Trust Co's holdings in Fabrinet were worth $908,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

FN has been the subject of a number of research reports. Rosenblatt Securities raised their target price on Fabrinet from $250.00 to $290.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. JPMorgan Chase & Co. raised 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. Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and decreased their price target for the company from $178.00 to $176.00 in a research note on Friday, April 4th. 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $247.50.

Fabrinet Stock Performance

NYSE:FN traded down $2.92 on Wednesday, hitting $286.19. 662,633 shares of the stock were exchanged, compared to its average volume of 752,283. Fabrinet has a 52 week low of $148.55 and a 52 week high of $300.29. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 31.87 and a beta of 1.04. The company's 50-day moving average price is $236.68 and its 200 day moving average price is $221.29.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share 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 business had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. During the same period in the previous year, the firm posted $2.39 earnings per share. Fabrinet's revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

Insiders Place Their Bets

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the transaction, the director owned 23,201 shares of the company's stock, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total value of $4,482,000.00. Following the transaction, the chief operating officer owned 18,068 shares in the company, valued at approximately $4,336,320. This trade represents a 50.83% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

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.