Thrivent Financial for Lutherans Sells 18,186 Shares of Fabrinet (NYSE:FN)

Thrivent Financial for Lutherans reduced its position in shares of Fabrinet (NYSE:FN - Free Report) by 4.3% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 408,146 shares of the technology company's stock after selling 18,186 shares during the quarter. Thrivent Financial for Lutherans owned 1.13% of Fabrinet worth $96,502,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FN. Vanguard Group Inc. boosted its holdings in shares of Fabrinet by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company's stock worth $821,986,000 after buying an additional 38,999 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Fabrinet by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company's stock worth $77,027,000 after buying an additional 12,409 shares during the last quarter. Epoch Investment Partners Inc. boosted its holdings in shares of Fabrinet by 9.6% in the second quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company's stock worth $73,928,000 after buying an additional 26,475 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Fabrinet by 183.5% in the second quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company's stock worth $68,046,000 after buying an additional 179,943 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Fabrinet by 20.4% in the first quarter. Janus Henderson Group PLC now owns 276,354 shares of the technology company's stock worth $52,233,000 after buying an additional 46,864 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Price Performance

Shares of FN stock traded down $2.59 during mid-day trading on Monday, hitting $232.26. The company had a trading volume of 359,221 shares, compared to its average volume of 490,956. Fabrinet has a 52-week low of $159.30 and a 52-week high of $278.38. The stock's 50 day moving average price is $242.35 and its 200-day moving average price is $236.47. The company has a market capitalization of $8.42 billion, a P/E ratio of 27.59 and a beta of 0.95.

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, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $771.24 million. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The company's quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts expect that Fabrinet will post 9.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on FN. Barclays began coverage on shares of Fabrinet in a report on Thursday. They issued an "equal weight" rating and a $292.00 price objective on the stock. JPMorgan Chase & Co. lifted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Needham & Company LLC started coverage on shares of Fabrinet in a report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price target on the stock. Rosenblatt Securities lifted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. Finally, B. Riley lowered their price target on shares of Fabrinet from $196.00 to $194.00 and set a "neutral" rating on the stock in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Fabrinet presently has a consensus rating of "Hold" and a consensus price target of $254.43.

Insider Buying and Selling

In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the transaction, the chief executive officer now owns 37,643 shares in the company, valued at $10,163,610. The trade was a 41.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Csaba Sverha sold 100 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the transaction, the chief financial officer now owns 19,347 shares in the company, valued at $5,223,690. This trade represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,728 shares of company stock worth $11,645,062. Insiders own 0.38% of the company's stock.

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.