Fabrinet (NYSE:FN) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. trimmed its position in shares of Fabrinet (NYSE:FN - Free Report) by 5.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 452,776 shares of the technology company's stock after selling 27,774 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.25% of Fabrinet worth $99,556,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FN. Smartleaf Asset Management LLC raised its stake in shares of Fabrinet by 237.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 625 shares of the technology company's stock valued at $134,000 after acquiring an additional 440 shares in the last quarter. Williamson Legacy Group LLC purchased a new position in shares of Fabrinet in the 4th quarter valued at about $342,000. Illumine Investment Management LLC purchased a new position in shares of Fabrinet in the 4th quarter valued at about $745,000. Proficio Capital Partners LLC acquired a new position in shares of Fabrinet during the fourth quarter worth about $8,412,000. Finally, Los Angeles Capital Management LLC increased its stake in shares of Fabrinet by 9.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 29,532 shares of the technology company's stock worth $6,493,000 after buying an additional 2,546 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Price Performance

Shares of FN stock traded up $22.05 during mid-day trading on Thursday, hitting $223.93. The stock had a trading volume of 1,655,792 shares, compared to its average volume of 765,539. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $281.79. The company's 50-day simple moving average is $219.55 and its 200-day simple moving average is $231.25. The firm has a market cap of $8.12 billion, a PE ratio of 25.05 and a beta of 0.89.

Remove Ads

Fabrinet (NYSE:FN - Get Free Report) last posted its earnings results on Monday, February 3rd. The technology company reported $2.38 EPS for the quarter, missing analysts' consensus estimates of $2.48 by ($0.10). Fabrinet had a return on equity of 18.48% and a net margin of 10.44%. On average, analysts expect that Fabrinet will post 9.4 EPS for the current year.

Wall Street Analyst Weigh In

FN has been the subject of a number of recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research note on Tuesday, February 4th. Barclays decreased their price objective on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 4th. JPMorgan Chase & Co. dropped their target price on Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a report on Tuesday, February 4th. B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, Fox Advisors began coverage on shares of Fabrinet in a report on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Fabrinet presently has an average rating of "Hold" and a consensus target price of $246.63.

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.