Fabrinet (NYSE:FN) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its position in shares of Fabrinet (NYSE:FN - Free Report) by 18.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,136 shares of the technology company's stock after selling 15,611 shares during the period. Natixis Advisors LLC owned about 0.19% of Fabrinet worth $16,110,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. nVerses Capital LLC bought a new stake in Fabrinet in the third quarter valued at $567,000. Pitcairn Co. bought a new stake in Fabrinet in the first quarter valued at $544,000. DekaBank Deutsche Girozentrale grew its position in Fabrinet by 27.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 79,088 shares of the technology company's stock valued at $15,036,000 after acquiring an additional 17,000 shares during the period. Russell Investments Group Ltd. boosted its stake in Fabrinet by 279.5% in the first quarter. Russell Investments Group Ltd. now owns 22,294 shares of the technology company's stock worth $4,214,000 after purchasing an additional 16,420 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in Fabrinet by 68.6% in the second quarter. Park Avenue Securities LLC now owns 6,533 shares of the technology company's stock worth $1,599,000 after purchasing an additional 2,658 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Needham & Company LLC started coverage on Fabrinet in a report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective for the company. Rosenblatt Securities boosted their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their target price on Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $194.00 to $178.00 in a report on Wednesday. Finally, Barclays initiated coverage on Fabrinet in a research report on Thursday, November 14th. They set an "equal weight" rating and a $292.00 target price on the stock. One equities 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's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $252.14.

Insider Buying and Selling

In related news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the sale, the chief executive officer now directly owns 37,643 shares of the company's stock, valued at $10,163,610. This represents a 41.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the sale, the executive vice president now directly owns 8,333 shares in the company, valued at $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,728 shares of company stock valued at $11,645,062. Company insiders own 0.38% of the company's stock.

Fabrinet Price Performance

Shares of NYSE:FN traded down $24.94 during midday trading on Wednesday, hitting $223.80. The company had a trading volume of 839,232 shares, compared to its average volume of 492,265. The company has a market cap of $8.12 billion, a price-to-earnings ratio of 26.52 and a beta of 0.95. Fabrinet has a 12-month low of $159.30 and a 12-month high of $278.38. The company has a fifty day moving average of $243.63 and a two-hundred day moving average of $237.37.

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

About Fabrinet

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.