Fabrinet (NYSE:FN) Stock Holdings Lessened by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its position in Fabrinet (NYSE:FN - Free Report) by 42.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,000 shares of the technology company's stock after selling 5,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in Fabrinet were worth $1,892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FN. Opal Wealth Advisors LLC bought a new stake in shares of Fabrinet in the 2nd quarter worth about $28,000. Huntington National Bank increased its holdings in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after buying an additional 57 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in Fabrinet during the second quarter valued at approximately $35,000. Kimelman & Baird LLC bought a new position in Fabrinet during the 2nd quarter worth approximately $49,000. Finally, NBC Securities Inc. grew its position in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock worth $49,000 after acquiring an additional 183 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Down 0.3 %

Fabrinet stock traded down $0.60 during mid-day trading on Monday, hitting $233.98. 571,325 shares of the company's stock traded hands, compared to its average volume of 500,445. The company has a market cap of $8.49 billion, a PE ratio of 27.76 and a beta of 0.95. Fabrinet has a one year low of $159.69 and a one 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 $238.06.

Fabrinet (NYSE:FN - Get Free Report) last released its earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.38 by $0.01. The firm had revenue of $804.20 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $1.78 EPS. On average, analysts expect that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FN shares. Needham & Company LLC started coverage on Fabrinet in a research note on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective on the stock. Rosenblatt Securities raised their price target on shares of 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. boosted their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Barclays assumed 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, B. Riley downgraded 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 research note on Wednesday, November 20th. One investment 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. According to MarketBeat.com, the stock has an average rating of "Hold" and an average 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.