Squarepoint Ops LLC Acquires 76,803 Shares of Fabrinet (NYSE:FN)

Squarepoint Ops LLC boosted its holdings in Fabrinet (NYSE:FN - Free Report) by 242.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,486 shares of the technology company's stock after buying an additional 76,803 shares during the quarter. Squarepoint Ops LLC owned approximately 0.30% of Fabrinet worth $23,854,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after purchasing an additional 52 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Fabrinet by 5.7% during the 4th quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock worth $245,000 after purchasing an additional 60 shares during the last quarter. Nations Financial Group Inc. IA ADV raised its holdings in Fabrinet by 2.4% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock worth $647,000 after purchasing an additional 68 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Fabrinet by 2.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock worth $721,000 after purchasing an additional 82 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. raised its holdings in Fabrinet by 17.2% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock worth $125,000 after purchasing an additional 83 shares during the last quarter. Institutional investors own 97.38% of the company's stock.

Analyst Upgrades and Downgrades

FN has been the subject of several recent analyst reports. Fox Advisors initiated coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective for the company. Rosenblatt Securities raised their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, May 6th. 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 research report on Friday, April 4th. JPMorgan Chase & Co. raised their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Barclays set a $234.00 price objective on shares of Fabrinet and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $239.29.

Insiders Place Their Bets

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of Fabrinet stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total transaction of $559,950.00. Following the transaction, the director now directly owns 23,201 shares of the company's stock, valued at $5,196,559.98. The trade was a 9.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.38% of the company's stock.

Fabrinet Price Performance

FN opened at $227.72 on Wednesday. The company has a market capitalization of $8.16 billion, a price-to-earnings ratio of 25.47 and a beta of 0.95. The firm's fifty day moving average price is $203.62 and its two-hundred day moving average price is $218.90. Fabrinet has a 1 year low of $148.55 and a 1 year high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The business's revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.39 EPS. As a group, equities analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

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.

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