Value Aligned Research Advisors LLC Trims Stock Position in Fabrinet (NYSE:FN)

Value Aligned Research Advisors LLC cut its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 50.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,570 shares of the technology company's stock after selling 34,197 shares during the quarter. Fabrinet comprises approximately 1.9% of Value Aligned Research Advisors LLC's portfolio, making the stock its 16th biggest holding. Value Aligned Research Advisors LLC owned approximately 0.09% of Fabrinet worth $7,381,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Fabrinet by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock worth $909,771,000 after purchasing an additional 113,186 shares during the period. FMR LLC raised its holdings in shares of Fabrinet by 13.1% in 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 raised its holdings in shares of Fabrinet by 47.0% in the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after purchasing an additional 362,064 shares during the period. Geode Capital Management LLC raised its holdings in shares of Fabrinet by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock worth $221,430,000 after purchasing an additional 20,045 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of Fabrinet by 1.4% in the 4th quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock worth $147,201,000 after purchasing an additional 9,058 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FN. Rosenblatt Securities raised their target price on Fabrinet from $230.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, May 6th. Fox Advisors began coverage on Fabrinet in a report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price on the stock. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and dropped their target price for the company from $178.00 to $176.00 in a report on Friday, April 4th. Needham & Company LLC reiterated a "buy" rating and set a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. raised their target price on Fabrinet from $220.00 to $235.00 and gave the company a "neutral" 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 data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $239.29.

Fabrinet Stock Up 0.7%

Shares of NYSE FN opened at $228.46 on Friday. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79. The business has a 50 day moving average price of $203.89 and a two-hundred day moving average price of $218.88. The firm has a market cap of $8.19 billion, a PE ratio of 25.55 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates of $2.47 by $0.05. Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. The firm had revenue of $871.80 million during the quarter, compared to analyst estimates of $857.12 million. During the same quarter last year, the firm earned $2.39 EPS. Fabrinet's quarterly revenue was up 19.2% on a year-over-year basis. On average, analysts anticipate that Fabrinet will post 9.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Rollance E. Olson sold 2,500 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by company insiders.

Fabrinet 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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