Vaughan Nelson Investment Management L.P. Sells 52,530 Shares of Fabrinet (NYSE:FN)

Vaughan Nelson Investment Management L.P. lessened its stake in Fabrinet (NYSE:FN - Free Report) by 18.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 227,305 shares of the technology company's stock after selling 52,530 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.63% of Fabrinet worth $53,744,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in Fabrinet during the second quarter worth about $28,000. Huntington National Bank raised its stake in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after acquiring an additional 57 shares during the period. Banque Cantonale Vaudoise acquired a new stake in Fabrinet during the second quarter worth about $35,000. Kimelman & Baird LLC acquired a new stake in Fabrinet during the second quarter worth about $49,000. Finally, NBC Securities Inc. increased its stake in shares of Fabrinet by 732.0% in the third 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 period. Institutional investors and hedge funds own 97.38% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Fabrinet in a report on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price objective for the company. Barclays assumed coverage on shares of Fabrinet in a report on Thursday. They issued an "equal weight" rating and a $292.00 price objective for the company. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Rosenblatt Securities increased their price objective 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 reduced their target price on shares of Fabrinet from $196.00 to $194.00 and set a "neutral" rating for the company in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Fabrinet currently has an average rating of "Hold" and a consensus target price of $254.43.

Fabrinet Price Performance

NYSE FN traded down $17.15 on Friday, hitting $234.85. 793,218 shares of the stock were exchanged, compared to its average volume of 607,220. Fabrinet has a 52-week low of $159.30 and a 52-week high of $278.38. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of 27.79 and a beta of 0.95. The company's 50-day moving average price is $242.35 and its two-hundred day moving average price is $236.02.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data 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. 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 analysts' expectations of $771.24 million. During the same period in the previous year, the company posted $1.78 EPS. The company's quarterly revenue was up 17.3% compared to the same quarter last year. Equities analysts predict that Fabrinet will post 9.1 EPS for the current fiscal year.

Insider Buying and Selling at Fabrinet

In related news, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction on 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 completion of the sale, the chief executive officer now owns 37,643 shares of the company's stock, valued at approximately $10,163,610. The trade was a 41.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Csaba Sverha sold 9,288 shares of Fabrinet stock in a transaction on Friday, August 23rd. The shares were 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 directly owns 19,768 shares of the company's stock, valued at approximately $5,338,941.44. The trade was a 31.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock valued at $11,645,062 in the last quarter. Company insiders own 0.38% of the company's stock.

Fabrinet Company 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.