Value Aligned Research Advisors LLC Sells 34,197 Shares of Fabrinet (NYSE:FN)

Value Aligned Research Advisors LLC cut its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 50.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,570 shares of the technology company's stock after selling 34,197 shares during the quarter. Fabrinet makes up 1.9% of Value Aligned Research Advisors LLC's investment portfolio, making the stock its 16th largest holding. Value Aligned Research Advisors LLC owned 0.09% of Fabrinet worth $7,381,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FN. Assetmark Inc. grew its stake in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after acquiring an additional 52 shares during the period. CIBC Asset Management Inc grew its stake in shares of 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 acquiring an additional 60 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in shares of 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 acquiring an additional 68 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of 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 acquiring an additional 82 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its stake in shares of 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 acquiring an additional 83 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

FN traded down $1.06 on Wednesday, reaching $233.66. The company had a trading volume of 109,613 shares, compared to its average volume of 625,831. The business has a 50 day simple moving average of $204.40 and a 200 day simple moving average of $218.20. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 26.13 and a beta of 0.95. Fabrinet has a 52-week low of $148.55 and a 52-week high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly 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. 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 was up 19.2% compared to the same quarter last year. During the same period last year, the firm posted $2.39 earnings per share. As a group, equities research analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Rollance E. Olson sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total value of $559,950.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FN shares. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research note on Tuesday, May 6th. Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target on the stock. Barclays set a $234.00 price target on shares of Fabrinet and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Finally, Rosenblatt Securities increased their price target on shares of Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.