Vaughan Nelson Investment Management L.P. Has $9.43 Million Stake in Fabrinet (NYSE:FN)

Vaughan Nelson Investment Management L.P. lowered its holdings in Fabrinet (NYSE:FN - Free Report) by 84.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 47,725 shares of the technology company's stock after selling 258,845 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 0.13% of Fabrinet worth $9,426,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FN. Vanguard Group Inc. raised its position in Fabrinet by 2.8% in the 4th 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 last quarter. FMR LLC raised its holdings in shares of Fabrinet by 13.1% in the fourth quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock valued at $486,789,000 after buying an additional 257,164 shares during the last quarter. Wasatch Advisors LP lifted its position in Fabrinet by 47.0% during the 4th 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 in the last quarter. Geode Capital Management LLC lifted its position in Fabrinet by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock worth $221,430,000 after buying an additional 20,045 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Fabrinet by 1.4% in the 4th 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 in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Insider Activity

In related news, Director Rollance E. Olson sold 2,500 shares of the business'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 value of $559,950.00. Following the completion of the transaction, the director now directly owns 23,201 shares in the company, valued at approximately $5,196,559.98. The trade was a 9.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the sale, the chief operating officer now owns 18,068 shares in the company, valued at $4,336,320. This trade represents a 50.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Fabrinet Stock Up 5.3%

Shares of Fabrinet stock traded up $12.97 during trading on Monday, reaching $258.06. 677,087 shares of the company were exchanged, compared to its average volume of 636,964. The business has a 50-day moving average price of $214.78 and a 200-day moving average price of $217.96. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 28.87 and a beta of 0.98. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The technology company reported $2.52 EPS 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 company had revenue of $871.80 million during the quarter, compared to analysts' expectations of $857.12 million. During the same period in the prior year, the business posted $2.39 EPS. Fabrinet's revenue was up 19.2% on a year-over-year basis. On average, equities research analysts forecast that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FN shares. Needham & Company LLC reiterated a "buy" rating and set a $280.00 target price on shares of Fabrinet in a research report on Tuesday, May 6th. Rosenblatt Securities boosted their price objective on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday. Barclays set a $234.00 price objective on Fabrinet and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Fox Advisors began coverage on Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 target price for the company. Finally, JPMorgan Chase & Co. upped their price target on Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $245.00.

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.