Whale Rock Capital Management LLC Decreases Stock Holdings in Fabrinet (NYSE:FN)

Whale Rock Capital Management LLC lessened its holdings in Fabrinet (NYSE:FN - Free Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 839,777 shares of the technology company's stock after selling 15,990 shares during the period. Fabrinet makes up about 2.2% of Whale Rock Capital Management LLC's investment portfolio, making the stock its 19th largest position. Whale Rock Capital Management LLC owned about 2.32% of Fabrinet worth $184,650,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Assetmark Inc. increased its position in Fabrinet by 12.0% during the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company's stock valued at $106,000 after acquiring an additional 52 shares during the last quarter. CIBC Asset Management Inc increased its position in Fabrinet by 5.7% during the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company's stock valued at $245,000 after acquiring an additional 60 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its position in Fabrinet by 2.4% during the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company's stock valued at $647,000 after acquiring an additional 68 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Fabrinet by 2.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company's stock valued at $721,000 after acquiring an additional 82 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. increased its position in Fabrinet by 17.2% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock valued at $125,000 after acquiring an additional 83 shares during the last quarter. Institutional investors own 97.38% of the company's stock.

Insider Buying and Selling

In related news, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The shares were 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. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on FN. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a research report on Tuesday, May 6th. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their price objective for the company from $178.00 to $176.00 in a research report on Friday, April 4th. JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Fox Advisors started coverage on shares of Fabrinet in a research report on Tuesday, February 18th. They set an "overweight" rating and a $270.00 price objective on the stock. Finally, Rosenblatt Securities upped 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 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.com, the stock presently has an average rating of "Hold" and a consensus target price of $239.29.

Fabrinet Trading Up 0.9%

Shares of NYSE FN traded up $2.16 during mid-day trading on Friday, reaching $230.41. The company had a trading volume of 542,948 shares, compared to its average volume of 628,458. The business's 50-day moving average is $204.05 and its 200-day moving average is $218.68. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 25.77 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 analysts' consensus estimates of $2.47 by $0.05. The firm had revenue of $871.80 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the business posted $2.39 earnings per share. As a group, equities research analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

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.