Paradiem LLC Sells 9,163 Shares of Fabrinet (NYSE:FN)

Paradiem LLC decreased its position in Fabrinet (NYSE:FN - Free Report) by 32.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,367 shares of the technology company's stock after selling 9,163 shares during the quarter. Paradiem LLC owned approximately 0.05% of Fabrinet worth $3,686,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FN. Baillie Gifford & Co. increased its position in shares of Fabrinet by 190.0% in the fourth quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company's stock valued at $107,309,000 after acquiring an additional 369,389 shares during the period. FMR LLC increased its position in shares of Fabrinet by 9.7% in the third quarter. FMR LLC now owns 1,987,726 shares of the technology company's stock valued at $331,195,000 after acquiring an additional 174,945 shares during the period. Wellington Management Group LLP increased its position in shares of Fabrinet by 21.3% during the third quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company's stock valued at $150,709,000 after buying an additional 159,037 shares during the period. Invesco Ltd. increased its position in shares of Fabrinet by 55.5% during the third quarter. Invesco Ltd. now owns 306,840 shares of the technology company's stock valued at $51,126,000 after buying an additional 109,469 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Fabrinet by 159.3% during the third quarter. American Century Companies Inc. now owns 157,964 shares of the technology company's stock valued at $26,320,000 after buying an additional 97,052 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Insider Activity

In related news, Director Rollance E. Olson sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the sale, the director now owns 25,981 shares in the company, valued at $5,339,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.51% of the company's stock.

Fabrinet Trading Up 1.9 %

FN traded up $3.25 during midday trading on Friday, reaching $175.45. The company's stock had a trading volume of 218,112 shares, compared to its average volume of 417,698. The stock's 50-day moving average is $191.71 and its 200-day moving average is $185.21. Fabrinet has a 1 year low of $90.19 and a 1 year high of $229.02. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 25.35 and a beta of 1.04.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly 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. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The firm had revenue of $712.69 million for the quarter, compared to analysts' expectations of $699.76 million. As a group, equities research analysts forecast that Fabrinet will post 7.59 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FN shares. Northland Securities upgraded shares of Fabrinet from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Needham & Company LLC reduced their price target on shares of Fabrinet from $230.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on shares of Fabrinet from $210.00 to $212.00 and gave the company a "neutral" rating in a research report on Thursday, April 11th. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Fabrinet currently has a consensus rating of "Moderate Buy" and a consensus target price of $159.57.

About Fabrinet

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.