Fabrinet (NYSE:FN) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in Fabrinet (NYSE:FN - Free Report) by 56.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 312,812 shares of the technology company's stock after selling 407,096 shares during the period. Victory Capital Management Inc. owned about 0.86% of Fabrinet worth $59,537,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its stake in shares of Fabrinet by 12.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 3,636 shares of the technology company's stock worth $606,000 after buying an additional 414 shares during the last quarter. Xponance Inc. boosted its stake in shares of Fabrinet by 6.8% during the 3rd quarter. Xponance Inc. now owns 2,313 shares of the technology company's stock worth $385,000 after buying an additional 147 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Fabrinet by 3.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company's stock worth $368,000 after buying an additional 75 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of Fabrinet by 52.8% during the 3rd quarter. New York State Teachers Retirement System now owns 28,667 shares of the technology company's stock worth $4,776,000 after buying an additional 9,900 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of Fabrinet during the 3rd quarter worth about $328,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fabrinet

In other 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 value of $2,055,200.00. Following the completion of the sale, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.51% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price 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. Northland Securities upgraded Fabrinet from a "market perform" rating to an "outperform" rating and upped their target price for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Rosenblatt Securities reiterated a "buy" rating and set a $230.00 target price on shares of Fabrinet in a research report on Tuesday, February 6th. Finally, Needham & Company LLC dropped 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. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $159.57.

Fabrinet Price Performance

NYSE FN traded up $5.03 on Friday, reaching $179.22. The company had a trading volume of 599,682 shares, compared to its average volume of 432,498. The business has a 50 day moving average of $189.84 and a two-hundred day moving average of $185.25. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 25.90 and a beta of 1.04.

Fabrinet (NYSE:FN - Get Free Report) last released its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share 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 business had revenue of $712.69 million during the quarter, compared to the consensus estimate of $699.76 million. As a group, research analysts predict that Fabrinet will post 7.59 earnings per share for the current fiscal 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.