Fabrinet (NYSE:FN) Stock Position Decreased by Royce & Associates LP

Royce & Associates LP lessened its stake in shares of Fabrinet (NYSE:FN - Free Report) by 2.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 169,384 shares of the technology company's stock after selling 4,092 shares during the quarter. Royce & Associates LP owned about 0.47% of Fabrinet worth $40,049,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Fabrinet by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company's stock worth $821,986,000 after acquiring an additional 38,999 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Fabrinet by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company's stock worth $77,027,000 after purchasing an additional 12,409 shares during the period. Epoch Investment Partners Inc. increased its position in Fabrinet by 9.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company's stock worth $73,928,000 after purchasing an additional 26,475 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in Fabrinet by 13.4% during the first quarter. Westfield Capital Management Co. LP now owns 300,421 shares of the technology company's stock valued at $56,786,000 after buying an additional 35,529 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its holdings in shares of Fabrinet by 183.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company's stock valued at $68,046,000 after acquiring an additional 179,943 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Price Performance

Shares of FN stock traded down $17.15 during trading hours on Friday, reaching $234.85. The stock had a trading volume of 793,192 shares, compared to its average volume of 491,548. The firm has a 50-day simple moving average of $241.87 and a 200-day simple moving average of $235.18. The firm has a market capitalization of $8.52 billion, a PE ratio of 28.73 and a beta of 0.95. Fabrinet has a twelve month low of $159.30 and a twelve month high of $278.38.

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

Insiders Place Their Bets

In related news, EVP Edward T. Archer sold 8,690 shares of the firm's 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 transaction, the executive vice president now owns 8,333 shares of the company's stock, valued at $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Csaba Sverha sold 9,288 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the sale, the chief financial officer now owns 19,768 shares in the company, valued at approximately $5,338,941.44. This trade represents a 31.97 % 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 worth $11,645,062. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on FN. Barclays initiated coverage on Fabrinet in a research report on Thursday. They issued an "equal weight" rating and a $292.00 price objective on the stock. Needham & Company LLC initiated coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price objective for the company. JPMorgan Chase & Co. upped their target price on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Rosenblatt Securities lifted their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Finally, B. Riley decreased their price target on shares of Fabrinet from $196.00 to $194.00 and set a "neutral" rating for the company in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $254.43.

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.