Fabrinet (NYSE:FN) Holdings Reduced by abrdn plc

abrdn plc trimmed its stake in shares of Fabrinet (NYSE:FN - Free Report) by 21.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 259,712 shares of the technology company's stock after selling 69,691 shares during the period. abrdn plc owned about 0.71% of Fabrinet worth $49,431,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FN. Park Place Capital Corp acquired a new stake in shares of Fabrinet during the 4th quarter valued at approximately $26,000. Salem Investment Counselors Inc. acquired a new position in shares of Fabrinet during the 4th quarter worth approximately $29,000. Orion Capital Management LLC acquired a new position in shares of Fabrinet during the 3rd quarter worth approximately $47,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Fabrinet during the 4th quarter worth approximately $52,000. Finally, Signaturefd LLC raised its position in shares of Fabrinet by 15.9% during the 3rd quarter. Signaturefd LLC now owns 503 shares of the technology company's stock worth $84,000 after purchasing an additional 69 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Rollance E. Olson sold 10,000 shares of the business's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the sale, the director now directly owns 25,981 shares of the company's stock, valued at approximately $5,339,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.51% of the company's stock.

Wall Street Analysts Forecast Growth

FN has been the subject of several research reports. Northland Securities upgraded Fabrinet from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $200.00 to $220.00 in a research report on Thursday, March 21st. Needham & Company LLC cut 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. 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. Finally, JPMorgan Chase & Co. lifted their target price on shares of Fabrinet from $210.00 to $212.00 and gave the stock a "neutral" rating in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, Fabrinet presently has a consensus rating of "Moderate Buy" and an average target price of $159.57.

Fabrinet Price Performance

FN stock traded up $1.85 during midday trading on Monday, hitting $164.17. The stock had a trading volume of 329,116 shares, compared to its average volume of 452,902. The firm has a market cap of $5.96 billion, a PE ratio of 23.72 and a beta of 1.04. Fabrinet has a 12-month low of $90.19 and a 12-month high of $229.02. The company's 50-day moving average price is $193.89 and its 200 day moving average price is $185.39.

Fabrinet (NYSE:FN - Get Free Report) last released its earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The firm had revenue of $712.69 million during the quarter, compared to analysts' expectations of $699.76 million. As a group, sell-side analysts anticipate that Fabrinet will post 7.59 EPS for the current year.

Fabrinet Company 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.