Fabrinet (NYSE:FN) Shares Sold by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lowered its stake in Fabrinet (NYSE:FN - Free Report) by 25.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,139 shares of the technology company's stock after selling 51,904 shares during the period. Westfield Capital Management Co. LP owned 0.42% of Fabrinet worth $35,735,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. nVerses Capital LLC bought a new position in Fabrinet in the third quarter worth $567,000. DekaBank Deutsche Girozentrale lifted its position in Fabrinet by 27.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 79,088 shares of the technology company's stock valued at $15,036,000 after acquiring an additional 17,000 shares during the period. LMR Partners LLP boosted its stake in Fabrinet by 68.4% during the third quarter. LMR Partners LLP now owns 39,493 shares of the technology company's stock worth $9,338,000 after acquiring an additional 16,037 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Fabrinet by 68.6% during the second quarter. Park Avenue Securities LLC now owns 6,533 shares of the technology company's stock worth $1,599,000 after acquiring an additional 2,658 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in Fabrinet in the second quarter worth about $1,091,000. Institutional investors own 97.38% of the company's stock.

Insider Activity at Fabrinet

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the 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 sale, the executive vice president now directly owns 8,333 shares of the company's stock, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.38% of the stock is owned by insiders.

Fabrinet Stock Performance

FN traded down $1.80 during trading on Monday, hitting $228.63. 606,469 shares of the stock were exchanged, compared to its average volume of 498,653. Fabrinet has a 1 year low of $159.30 and a 1 year high of $278.38. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 27.06 and a beta of 0.95. The firm has a 50 day simple moving average of $244.08 and a 200 day simple moving average of $237.99.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.38 by $0.01. The business had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The business's revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business posted $1.78 EPS. As a group, equities analysts anticipate that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on FN. Barclays initiated coverage on Fabrinet in a research note on Thursday, November 14th. They set an "equal weight" rating and a $292.00 target price on the stock. B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and reduced their price objective for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC began coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a "buy" rating and a $280.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities increased their price objective 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. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $252.14.

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.