Fabrinet (NYSE:FN) Shares Sold by F M Investments LLC

F M Investments LLC trimmed its stake in Fabrinet (NYSE:FN - Free Report) by 60.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,101 shares of the technology company's stock after selling 33,294 shares during the period. F M Investments LLC owned 0.06% of Fabrinet worth $4,860,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in Fabrinet during the 4th quarter worth $24,844,000. Renaissance Technologies LLC raised its position in shares of Fabrinet by 8.1% in the 4th quarter. Renaissance Technologies LLC now owns 57,200 shares of the technology company's stock valued at $12,577,000 after purchasing an additional 4,300 shares during the last quarter. Shelton Capital Management purchased a new position in shares of Fabrinet in the 4th quarter valued at approximately $306,000. Bank of Montreal Can boosted its stake in Fabrinet by 2.5% in the 4th quarter. Bank of Montreal Can now owns 18,891 shares of the technology company's stock worth $4,154,000 after purchasing an additional 466 shares in the last quarter. Finally, FMR LLC grew its position in Fabrinet by 13.1% during the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after purchasing an additional 257,164 shares during the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Down 1.1 %

Shares of FN stock traded down $2.13 on Tuesday, hitting $188.06. The company had a trading volume of 485,683 shares, compared to its average volume of 602,073. The firm has a market cap of $6.82 billion, a P/E ratio of 21.04 and a beta of 0.97. Fabrinet has a twelve month low of $148.55 and a twelve month high of $281.79. The company has a 50-day moving average price of $205.69 and a 200-day moving average price of $226.34.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays decreased their price target on shares of Fabrinet from $292.00 to $245.00 and set an "equal weight" rating for the company in a report on Tuesday, February 4th. Fox Advisors initiated coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 target price for the company. JPMorgan Chase & Co. dropped their price target on Fabrinet from $275.00 to $265.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. B. Riley raised Fabrinet from a "sell" rating to a "neutral" rating and cut their price objective for the company from $178.00 to $176.00 in a report on Friday, April 4th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $285.00 target price on shares of Fabrinet in a report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $250.14.

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.