Gotham Asset Management LLC Has $386,000 Position in Fabrinet (NYSE:FN)

Gotham Asset Management LLC lowered its holdings in Fabrinet (NYSE:FN - Free Report) by 84.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,754 shares of the technology company's stock after selling 9,708 shares during the quarter. Gotham Asset Management LLC's holdings in Fabrinet were worth $386,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of Fabrinet by 304.6% during the 3rd quarter. Barclays PLC now owns 69,128 shares of the technology company's stock worth $16,345,000 after purchasing an additional 52,042 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Fabrinet by 9.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,271 shares of the technology company's stock worth $279,000 after purchasing an additional 107 shares during the period. Janney Montgomery Scott LLC boosted its stake in Fabrinet by 2.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock worth $721,000 after buying an additional 82 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Fabrinet by 24,520.0% during the fourth quarter. Avior Wealth Management LLC now owns 1,231 shares of the technology company's stock worth $271,000 after buying an additional 1,226 shares in the last quarter. Finally, Archford Capital Strategies LLC increased its holdings in Fabrinet by 4.7% in the 4th quarter. Archford Capital Strategies LLC now owns 1,886 shares of the technology company's stock valued at $415,000 after buying an additional 84 shares during the period. 97.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the sale, the director now owns 23,201 shares in the company, valued at approximately $5,196,559.98. This trade 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 Stock Performance

Shares of NYSE FN traded up $2.16 during mid-day trading on Monday, hitting $230.41. 542,948 shares of the stock were exchanged, compared to its average volume of 628,458. The company has a market cap of $8.26 billion, a P/E ratio of 25.77 and a beta of 0.95. The stock's fifty day simple moving average is $204.15 and its two-hundred day simple moving average is $218.09. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results 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 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 previous year, the business earned $2.39 EPS. Fabrinet's revenue 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 fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FN. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and reduced their price objective for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Fox Advisors began coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Rosenblatt Securities upped their price objective on Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, May 6th. Finally, Needham & Company LLC restated a "buy" rating and set a $280.00 target price on shares of Fabrinet 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's stock. Based on data from MarketBeat, Fabrinet presently has an average rating of "Hold" and a consensus price target of $239.29.

Fabrinet Company 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.