Baillie Gifford & Co. Sells 5,432 Shares of Fabrinet (NYSE:FN)

Baillie Gifford & Co. cut its holdings in Fabrinet (NYSE:FN) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 499,788 shares of the technology company’s stock after selling 5,432 shares during the period. Baillie Gifford & Co. owned approximately 1.38% of Fabrinet worth $118,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FN. WCM Investment Management LLC grew its stake in Fabrinet by 31.2% during the third quarter. WCM Investment Management LLC now owns 51,723 shares of the technology company’s stock worth $12,402,000 after purchasing an additional 12,289 shares during the period. Nations Financial Group Inc. IA ADV bought a new position in shares of Fabrinet during the 3rd quarter worth approximately $679,000. Versor Investments LP grew its position in shares of Fabrinet by 118.3% during the 3rd quarter. Versor Investments LP now owns 7,374 shares of the technology company’s stock worth $1,744,000 after buying an additional 3,996 shares during the period. Chartwell Investment Partners LLC increased its stake in shares of Fabrinet by 101.7% in the 3rd quarter. Chartwell Investment Partners LLC now owns 5,283 shares of the technology company’s stock valued at $1,250,000 after acquiring an additional 2,664 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Fabrinet by 34.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 26,986 shares of the technology company’s stock valued at $6,381,000 after acquiring an additional 6,870 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Rosenblatt Securities raised their target price on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. B. Riley dropped their price target on Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, Needham & Company LLC initiated coverage on Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target on the stock. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $248.17.

Fabrinet Price Performance

NYSE:FN opened at $258.85 on Wednesday. Fabrinet has a one year low of $159.30 and a one year high of $278.38. The company has a market cap of $9.39 billion, a PE ratio of 30.63 and a beta of 0.95. The firm has a 50-day moving average of $240.03 and a 200-day moving average of $234.35.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. The firm had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.78 EPS. On average, equities research analysts expect that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.00, for a total transaction of $27,000.00. Following the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the sale, the chief financial officer now directly owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction that occurred on Friday, August 23rd. The stock was 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 directly owns 37,643 shares in the company, valued at approximately $10,163,610. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,728 shares of company stock worth $11,645,062. 0.38% of the stock is owned by corporate insiders.

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.