Rice Hall James & Associates LLC cut its stake in Fabrinet (NYSE:FN) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 545,543 shares of the technology company’s stock after selling 1,774 shares during the period. Fabrinet comprises about 1.0% of Rice Hall James & Associates LLC’s portfolio, making the stock its 21st largest position. Rice Hall James & Associates LLC’s holdings in Fabrinet were worth $23,273,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of FN. Bowling Portfolio Management LLC bought a new position in shares of Fabrinet during the first quarter worth about $302,000. Tocqueville Asset Management L.P. increased its position in shares of Fabrinet by 20.4% in the first quarter. Tocqueville Asset Management L.P. now owns 18,900 shares of the technology company’s stock worth $794,000 after buying an additional 3,200 shares during the last quarter. Monarch Partners Asset Management LLC bought a new position in shares of Fabrinet during the first quarter worth about $2,295,000. DUPONT CAPITAL MANAGEMENT Corp bought a new position in shares of Fabrinet during the first quarter worth about $472,000. Finally, Sapphire Star Partners LP increased its position in shares of Fabrinet by 8.9% in the first quarter. Sapphire Star Partners LP now owns 11,211 shares of the technology company’s stock worth $471,000 after buying an additional 915 shares during the last quarter. 94.14% of the stock is currently owned by institutional investors.
Shares of Fabrinet (NYSE:FN) opened at 40.88 on Friday. Fabrinet has a 52-week low of $31.97 and a 52-week high of $49.63. The stock has a market capitalization of $1.53 billion, a P/E ratio of 17.18 and a beta of 1.08. The stock has a 50 day moving average of $43.85 and a 200-day moving average of $40.77.
Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, May 8th. The technology company reported $0.57 EPS for the quarter, missing the consensus estimate of $0.74 by $0.17. The firm had revenue of $366.80 million for the quarter, compared to analysts’ expectations of $362.07 million. Fabrinet had a net margin of 6.74% and a return on equity of 14.95%. The business’s quarterly revenue was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 EPS. Analysts predict that Fabrinet will post $3.36 EPS for the current fiscal year.
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A number of research analysts have issued reports on the stock. BidaskClub downgraded shares of Fabrinet from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Stifel Nicolaus reissued a “buy” rating and set a $48.00 price objective on shares of Fabrinet in a research report on Friday, July 14th. Zacks Investment Research raised shares of Fabrinet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine raised shares of Fabrinet from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Finally, Needham & Company LLC boosted their price objective on shares of Fabrinet from $56.00 to $60.00 and gave the company a “strong-buy” rating in a research report on Monday, June 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Fabrinet currently has a consensus rating of “Buy” and a consensus target price of $52.46.
In other news, CEO David T. Mitchell sold 52,500 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $37.02, for a total transaction of $1,943,550.00. Following the transaction, the chief executive officer now owns 102,114 shares in the company, valued at $3,780,260.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.30% of the company’s stock.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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