Fabrinet (NYSE:FN) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC cut its position in shares of Fabrinet (NYSE:FN - Free Report) by 53.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,350 shares of the technology company's stock after selling 132,494 shares during the period. Janus Henderson Group PLC owned approximately 0.32% of Fabrinet worth $27,513,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet during the 2nd quarter worth about $28,000. Huntington National Bank raised its stake in shares of 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 during the period. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet in the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC purchased a new position in shares of Fabrinet during the 2nd quarter worth approximately $49,000. Finally, NBC Securities Inc. increased its holdings in Fabrinet by 732.0% in the 3rd 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 last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Performance

Shares of NYSE:FN traded up $8.13 during trading hours on Friday, reaching $243.00. The stock had a trading volume of 228,944 shares, compared to its average volume of 572,874. The stock has a market capitalization of $8.81 billion, a price-to-earnings ratio of 28.73 and a beta of 0.92. Fabrinet has a 1 year low of $159.69 and a 1 year high of $278.38. The firm's 50 day moving average is $244.43 and its 200-day moving average is $238.17.

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

Analyst Upgrades and Downgrades

FN has been the subject of several research analyst reports. 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 for the company. Rosenblatt Securities boosted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, August 20th. Barclays initiated coverage on shares of Fabrinet in a research note on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price objective for the company. B. Riley downgraded shares of Fabrinet from a "neutral" rating to a "sell" rating and cut their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. raised their price target 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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.