BNP Paribas Financial Markets Has $4.85 Million Stake in Fabrinet (NYSE:FN)

BNP Paribas Financial Markets cut its stake in Fabrinet (NYSE:FN - Free Report) by 12.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,514 shares of the technology company's stock after selling 2,992 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.06% of Fabrinet worth $4,850,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Legacy Wealth Asset Management LLC increased its position in Fabrinet by 3.2% during the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company's stock worth $325,000 after acquiring an additional 43 shares during the period. Wolff Wiese Magana LLC increased its position in Fabrinet by 2.7% during the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company's stock worth $417,000 after acquiring an additional 47 shares during the period. Trust Point Inc. increased its position in 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 acquiring an additional 57 shares during the period. Huntington National Bank increased its position in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after acquiring an additional 57 shares during the period. Finally, Cim LLC increased its position in Fabrinet by 1.0% during the second quarter. Cim LLC now owns 5,980 shares of the technology company's stock worth $1,344,000 after acquiring an additional 61 shares during the period. 97.38% of the stock is owned by institutional investors.

Insider Activity at Fabrinet

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the sale, the executive vice president now directly owns 8,333 shares of the company's stock, valued at $1,835,426.58. The trade was a 51.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.38% of the stock is currently owned by insiders.

Fabrinet Stock Performance

Shares of Fabrinet stock traded up $6.46 during midday trading on Wednesday, hitting $241.84. 162,354 shares of the company traded hands, compared to its average volume of 498,681. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 27.85 and a beta of 0.92. The firm's fifty day moving average price is $244.14 and its 200-day moving average price is $238.09. Fabrinet has a 12 month low of $159.69 and a 12 month high of $278.38.

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

Analysts Set New Price Targets

FN has been the topic of a number of recent research reports. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Rosenblatt Securities increased their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Barclays started coverage on shares of Fabrinet in a research note on Thursday, November 14th. They set an "equal weight" rating and a $292.00 price objective on the stock. Finally, Needham & Company LLC started coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $252.14.

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.