Teachers Retirement System of The State of Kentucky reduced its position in shares of Fabrinet (NYSE:FN - Free Report) by 37.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,394 shares of the technology company's stock after selling 6,825 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Fabrinet were worth $2,250,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in FN. Vanguard Group Inc. raised its position in shares of Fabrinet by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock valued at $909,771,000 after purchasing an additional 113,186 shares during the period. FMR LLC lifted its holdings in 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 in the last quarter. Wasatch Advisors LP grew its holdings in Fabrinet by 47.0% during the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock valued at $249,044,000 after buying an additional 362,064 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Fabrinet by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock valued at $221,430,000 after buying an additional 20,045 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in shares of Fabrinet by 1.4% in the fourth quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock valued at $147,201,000 after acquiring an additional 9,058 shares during the period. Institutional investors own 97.38% of the company's stock.
Insider Transactions at Fabrinet
In other news, COO Harpal Gill sold 18,675 shares of Fabrinet 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 directly owned 18,068 shares of the company's stock, valued at $4,336,320. The trade was a 50.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $559,950.00. Following the transaction, the director owned 23,201 shares in the company, valued at $5,196,559.98. This represents a 9.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.
Wall Street Analysts Forecast Growth
FN has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Fabrinet from $235.00 to $318.00 and gave the stock a "neutral" rating in a research note on Thursday, July 17th. 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. Rosenblatt Securities upped their target price on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and lowered their price target for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Barclays set a $234.00 price objective on Fabrinet and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Fabrinet currently has an average rating of "Hold" and a consensus price target of $261.33.
Get Our Latest Report on FN
Fabrinet Stock Performance
Shares of Fabrinet stock traded down $0.75 on Thursday, hitting $304.45. 276,778 shares of the company's stock were exchanged, compared to its average volume of 499,952. Fabrinet has a 1 year low of $148.55 and a 1 year high of $314.47. The company has a 50-day simple moving average of $266.18 and a 200-day simple moving average of $229.81. The stock has a market capitalization of $10.91 billion, a PE ratio of 33.90 and a beta of 1.04.
Fabrinet (NYSE:FN - Get Free Report) last announced 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. The business had revenue of $871.80 million during the quarter, compared to analyst estimates of $857.12 million. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. During the same period last year, the firm posted $2.39 EPS. The company's revenue was up 19.2% on a year-over-year basis. On average, analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.
Fabrinet Profile
(
Free Report)
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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