WCM Investment Management LLC lessened its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 289,305 shares of the technology company's stock after selling 31,473 shares during the quarter. WCM Investment Management LLC owned about 0.80% of Fabrinet worth $56,967,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of FN. Park Place Capital Corp bought a new stake in Fabrinet in the 4th quarter worth approximately $26,000. Salem Investment Counselors Inc. bought a new stake in Fabrinet in the 4th quarter worth approximately $29,000. McGlone Suttner Wealth Management Inc. bought a new stake in Fabrinet in the 4th quarter worth approximately $52,000. Orion Capital Management LLC bought a new stake in Fabrinet in the 3rd quarter worth approximately $47,000. Finally, 1832 Asset Management L.P. bought a new stake in Fabrinet in the 4th quarter worth approximately $51,000. Institutional investors own 97.38% of the company's stock.
Fabrinet Stock Down 2.9 %
Shares of FN traded down $5.15 during mid-day trading on Friday, hitting $173.33. 486,282 shares of the company's stock traded hands, compared to its average volume of 487,294. Fabrinet has a 1 year low of $90.19 and a 1 year high of $229.02. The firm has a market capitalization of $6.29 billion, a P/E ratio of 25.05 and a beta of 1.04. The business's 50-day moving average price is $197.90 and its 200-day moving average price is $185.28.
Fabrinet (NYSE:FN - Get Free Report) last posted its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The firm had revenue of $712.69 million for the quarter, compared to analysts' expectations of $699.76 million. Sell-side analysts anticipate that Fabrinet will post 7.64 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Rollance E. Olson sold 10,000 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $205.52, for a total value of $2,055,200.00. Following the sale, the director now directly owns 25,981 shares of the company's stock, valued at $5,339,615.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.51% of the company's stock.
Analyst Ratings Changes
FN has been the subject of several recent research reports. Rosenblatt Securities reiterated a "buy" rating and issued a $230.00 price objective on shares of Fabrinet in a research report on Tuesday, February 6th. Needham & Company LLC lowered their price objective on Fabrinet from $230.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, March 22nd. Northland Securities upgraded Fabrinet from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. boosted their price objective on Fabrinet from $210.00 to $212.00 and gave the company a "neutral" rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $159.57.
Check Out Our Latest Stock Analysis on FN
About Fabrinet
(
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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