Fabrinet (NYSE:FN) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its position in Fabrinet (NYSE:FN - Free Report) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,207 shares of the technology company's stock after selling 2,325 shares during the quarter. Los Angeles Capital Management LLC owned 0.08% of Fabrinet worth $5,374,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FN. HighTower Advisors LLC grew its stake in shares of Fabrinet by 94.4% in the fourth quarter. HighTower Advisors LLC now owns 7,431 shares of the technology company's stock valued at $1,634,000 after buying an additional 3,608 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Fabrinet by 11.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 3,940 shares of the technology company's stock valued at $866,000 after buying an additional 391 shares in the last quarter. Xponance Inc. grew its stake in shares of Fabrinet by 6.9% in the fourth quarter. Xponance Inc. now owns 5,390 shares of the technology company's stock valued at $1,185,000 after buying an additional 346 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Fabrinet by 29.2% in the fourth quarter. Teacher Retirement System of Texas now owns 25,999 shares of the technology company's stock valued at $5,717,000 after buying an additional 5,869 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Fabrinet by 26.0% in the fourth quarter. Sei Investments Co. now owns 99,245 shares of the technology company's stock valued at $21,822,000 after buying an additional 20,462 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the 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 transaction, the director owned 23,201 shares of the company's stock, valued at $5,196,559.98. This trade represents a 9.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Harpal Gill sold 18,675 shares of the stock in a transaction that occurred on 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 directly owned 18,068 shares in the company, valued at approximately $4,336,320. This represents a 50.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FN shares. Rosenblatt Securities increased 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 Fabrinet from $235.00 to $318.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Wolfe Research began coverage on Fabrinet in a research note on Tuesday, July 8th. They set a "peer perform" rating for the company. Barclays set a $234.00 price objective on Fabrinet and gave the company an "equal weight" rating in a research note on Tuesday, May 6th. Finally, B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Fabrinet has a consensus rating of "Hold" and a consensus price target of $261.33.

Fabrinet Stock Up 1.4%

NYSE:FN traded up $4.26 during trading hours on Friday, reaching $309.11. 36,181 shares of the stock were exchanged, compared to its average volume of 716,017. The firm has a 50 day simple moving average of $266.18 and a 200-day simple moving average of $229.81. Fabrinet has a 52 week low of $148.55 and a 52 week high of $314.47. The stock has a market capitalization of $11.08 billion, a P/E ratio of 34.37 and a beta of 1.04.

Fabrinet (NYSE:FN - Get Free Report) last released its earnings results on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, topping analysts' consensus estimates of $2.47 by $0.05. Fabrinet had a return on equity of 17.99% and a net margin of 10.00%. The company had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. During the same quarter last year, the business posted $2.39 EPS. Fabrinet's quarterly revenue was up 19.2% compared to the same quarter last year. As a group, analysts expect that Fabrinet will post 9.4 earnings per share for the current year.

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.