Natixis Advisors LLC Sells 46,721 Shares of Fabrinet (NYSE:FN)

Natixis Advisors LLC trimmed its position in Fabrinet (NYSE:FN - Free Report) by 80.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,530 shares of the technology company's stock after selling 46,721 shares during the period. Natixis Advisors LLC's holdings in Fabrinet were worth $2,278,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Fabrinet by 13.1% during the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after purchasing an additional 257,164 shares during the period. Wasatch Advisors LP increased its holdings in Fabrinet by 47.0% during the fourth quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after buying an additional 362,064 shares during the last quarter. Baillie Gifford & Co. raised its position in Fabrinet by 16.5% in the first quarter. Baillie Gifford & Co. now owns 644,557 shares of the technology company's stock worth $127,306,000 after acquiring an additional 91,519 shares during the period. Northern Trust Corp boosted its stake in Fabrinet by 14.6% in the fourth quarter. Northern Trust Corp now owns 499,356 shares of the technology company's stock valued at $109,798,000 after acquiring an additional 63,686 shares during the last quarter. Finally, TD Asset Management Inc boosted its stake in Fabrinet by 17.8% in the first quarter. TD Asset Management Inc now owns 478,104 shares of the technology company's stock valued at $94,430,000 after acquiring an additional 72,385 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FN shares. Barclays set a $234.00 price target on shares of Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Rosenblatt Securities boosted 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. Wolfe Research started coverage on Fabrinet in a research note on Tuesday, July 8th. They set a "peer perform" rating for the company. Needham & Company LLC reissued a "buy" rating and issued a $280.00 price objective on shares of Fabrinet in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. boosted 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Fabrinet presently has an average rating of "Hold" and an average target price of $261.33.

Insider Transactions at Fabrinet

In related news, COO Harpal Gill sold 18,675 shares of the business'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 transaction of $4,482,000.00. Following the completion of the transaction, the chief operating officer owned 18,068 shares of the company's stock, valued at approximately $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 sale, the director directly owned 23,201 shares in the company, valued at $5,196,559.98. This trade represents a 9.73% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by insiders.

Fabrinet Price Performance

NYSE:FN opened at $334.67 on Friday. The company has a market cap of $11.99 billion, a P/E ratio of 37.27 and a beta of 1.02. The stock's fifty day moving average price is $284.72 and its two-hundred day moving average price is $236.04. Fabrinet has a 1 year low of $148.55 and a 1 year high of $336.84.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $857.12 million. During the same period in the previous year, the company posted $2.39 EPS. The firm's revenue for the quarter was up 19.2% compared to the same quarter last year. On average, analysts expect that Fabrinet will post 9.4 earnings per share for the current fiscal 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.

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