Fabrinet (NYSE:FN) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. decreased its position in shares of Fabrinet (NYSE:FN - Free Report) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 499,788 shares of the technology company's stock after selling 5,432 shares during the period. Baillie Gifford & Co. owned about 1.38% of Fabrinet worth $118,170,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC boosted its stake in Fabrinet by 3.2% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company's stock valued at $325,000 after acquiring an additional 43 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in shares of Fabrinet by 2.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company's stock valued at $417,000 after purchasing an additional 47 shares in the last quarter. Trust Point Inc. lifted its position in shares of Fabrinet by 4.7% during the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company's stock worth $301,000 after purchasing an additional 57 shares during the last quarter. Cim LLC grew its stake in Fabrinet by 1.0% in the second quarter. Cim LLC now owns 5,980 shares of the technology company's stock worth $1,344,000 after purchasing an additional 61 shares in the last quarter. Finally, Ausbil Investment Management Ltd increased its holdings in Fabrinet by 0.5% in the third quarter. Ausbil Investment Management Ltd now owns 14,741 shares of the technology company's stock valued at $3,485,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.

Insider Transactions at Fabrinet

In related news, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the sale, the chief executive officer now directly owns 37,643 shares in the company, valued at $10,163,610. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Seamus Grady sold 26,650 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the transaction, the chief executive officer now owns 37,643 shares in the company, valued at $10,163,610. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Csaba Sverha sold 100 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the sale, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,728 shares of company stock worth $11,645,062. Company insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on FN shares. Rosenblatt Securities increased their target price on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. B. Riley reduced their price objective on Fabrinet from $196.00 to $194.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. Needham & Company LLC assumed coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a "buy" rating and a $280.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $248.17.

Fabrinet Stock Down 2.7 %

FN stock traded down $7.04 during mid-day trading on Wednesday, reaching $251.81. The company had a trading volume of 268,416 shares, compared to its average volume of 490,713. Fabrinet has a one year low of $159.30 and a one year high of $278.38. The stock has a market capitalization of $9.13 billion, a P/E ratio of 30.63 and a beta of 0.95. The stock's 50-day simple moving average is $240.79 and its two-hundred day simple moving average is $234.94.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. During the same period last year, the firm posted $1.78 EPS. Fabrinet's quarterly revenue was up 17.3% compared to the same quarter last year. On average, research analysts forecast that Fabrinet will post 9.1 EPS for the current fiscal year.

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.