LRT Capital Management LLC Takes Position in Fabrinet (NYSE:FN)

LRT Capital Management LLC bought a new position in shares of Fabrinet (NYSE:FN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 8,397 shares of the technology company's stock, valued at approximately $1,598,000. Fabrinet makes up approximately 1.5% of LRT Capital Management LLC's portfolio, making the stock its 26th largest position.

Several other hedge funds have also recently bought and sold shares of FN. Vanguard Group Inc. grew its stake in Fabrinet by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company's stock worth $722,017,000 after purchasing an additional 16,228 shares in the last quarter. Advisors Asset Management Inc. lifted its stake in Fabrinet by 3.0% in the third quarter. Advisors Asset Management Inc. now owns 7,265 shares of the technology company's stock worth $1,210,000 after acquiring an additional 211 shares during the last quarter. Redwood Investments LLC purchased a new position in Fabrinet in the fourth quarter worth approximately $3,478,000. Wellington Management Group LLP lifted its stake in Fabrinet by 21.3% in the third quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company's stock worth $150,709,000 after acquiring an additional 159,037 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Fabrinet by 16.8% in the third quarter. Sei Investments Co. now owns 90,345 shares of the technology company's stock worth $15,053,000 after acquiring an additional 13,022 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Trading Down 1.7 %

Shares of Fabrinet stock traded down $2.88 on Friday, hitting $162.32. The stock had a trading volume of 634,386 shares, compared to its average volume of 425,445. Fabrinet has a 52-week low of $90.19 and a 52-week high of $229.02. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 23.46 and a beta of 1.04. The company's 50 day moving average price is $194.70 and its 200 day moving average price is $185.46.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, beating analysts' consensus estimates of $1.84 by $0.05. The business had revenue of $712.69 million for the quarter, compared to analysts' expectations of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. Analysts predict that Fabrinet will post 7.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Rollance E. Olson sold 10,000 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the transaction, the director now owns 25,981 shares of the company's stock, valued at $5,339,615.12. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.51% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Needham & Company LLC decreased their price target on Fabrinet from $230.00 to $220.00 and set a "buy" rating for the company in a report on Friday, March 22nd. Northland Securities raised Fabrinet from a "market perform" rating to an "outperform" rating and upped their price target for the company from $200.00 to $220.00 in a report on Thursday, March 21st. JPMorgan Chase & Co. increased their price target on shares of Fabrinet from $210.00 to $212.00 and gave the company a "neutral" rating in a research note on Thursday, April 11th. Finally, Rosenblatt Securities restated a "buy" rating and set a $230.00 price objective on shares of Fabrinet in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.57.

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.