Fabrinet (NYSE:FN) Shares Sold by Fmr LLC

FMR LLC lessened its holdings in Fabrinet (NYSE:FN - Free Report) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,956,723 shares of the technology company's stock after selling 183,358 shares during the period. FMR LLC owned approximately 5.39% of Fabrinet worth $462,648,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Fabrinet in the 2nd quarter valued at $28,000. Huntington National Bank grew its position in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after acquiring an additional 57 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in Fabrinet during the second quarter worth about $35,000. Kimelman & Baird LLC acquired a new stake in shares of Fabrinet during the second quarter worth about $49,000. Finally, NBC Securities Inc. boosted its stake in shares of Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after purchasing an additional 183 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Fabrinet

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the transaction, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. This represents a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.38% of the company's stock.

Fabrinet Stock Up 3.9 %

FN stock traded up $8.73 during trading on Friday, hitting $234.58. The company had a trading volume of 498,788 shares, compared to its average volume of 500,135. Fabrinet has a 1-year low of $159.30 and a 1-year high of $278.38. The firm has a 50-day moving average price of $244.01 and a 200-day moving average price of $238.05. The firm has a market cap of $8.51 billion, a PE ratio of 27.76 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.38 by $0.01. The business had revenue of $804.20 million during the quarter, compared to analysts' expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company's quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.78 earnings per share. Sell-side analysts anticipate that Fabrinet will post 9.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FN shares. B. Riley lowered Fabrinet from a "neutral" rating to a "sell" rating and decreased their target price for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays began coverage on shares of Fabrinet in a report on Thursday, November 14th. They set an "equal weight" rating and a $292.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Rosenblatt Securities upped their target price on Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. Finally, Needham & Company LLC assumed coverage on Fabrinet in a research report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, 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.