Wasatch Advisors LP Has $201.04 Million Position in Fabrinet (NYSE:FN)

Wasatch Advisors LP lessened its position in Fabrinet (NYSE:FN) by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,063,577 shares of the technology company’s stock after selling 41,382 shares during the period. Wasatch Advisors LP owned approximately 2.93% of Fabrinet worth $201,037,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Park Place Capital Corp bought a new position in Fabrinet in the fourth quarter valued at approximately $26,000. Salem Investment Counselors Inc. acquired a new position in Fabrinet in the 4th quarter worth $29,000. GAMMA Investing LLC acquired a new position in Fabrinet in the 4th quarter worth $34,000. Parallel Advisors LLC increased its holdings in Fabrinet by 59.7% during the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after purchasing an additional 77 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Fabrinet in the 4th quarter valued at about $52,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Fabrinet

In related news, Director Frank H. Levinson sold 6,000 shares of Fabrinet stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $241.71, for a total transaction of $1,450,260.00. Following the completion of the sale, the director now owns 5,709 shares of the company’s stock, valued at approximately $1,379,922.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.51% of the company’s stock.

Fabrinet Stock Down 0.5 %

Shares of FN stock traded down $1.11 on Tuesday, reaching $241.80. The stock had a trading volume of 399,807 shares, compared to its average volume of 451,393. Fabrinet has a 12 month low of $114.83 and a 12 month high of $257.04. The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of 32.11 and a beta of 0.96. The firm’s 50-day moving average is $226.60 and its two-hundred day moving average is $206.19.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, May 6th. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.28. Fabrinet had a return on equity of 17.67% and a net margin of 9.90%. The firm had revenue of $731.54 million for the quarter, compared to analyst estimates of $718.94 million. On average, sell-side analysts forecast that Fabrinet will post 7.95 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FN has been the subject of a number of research reports. Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Fabrinet in a report on Tuesday, May 7th. B. Riley lowered their price target on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. Finally, Jefferies Financial Group started coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $168.67.

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.