California Public Employees Retirement System grew its position in Fabrinet (NYSE:FN) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 85,928 shares of the technology company’s stock after purchasing an additional 2,806 shares during the quarter. California Public Employees Retirement System’s holdings in Fabrinet were worth $6,667,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of FN. Point72 Hong Kong Ltd purchased a new stake in Fabrinet during the 3rd quarter valued at $42,000. Nisa Investment Advisors LLC purchased a new position in shares of Fabrinet in the third quarter worth $50,000. Bartlett & Co. LLC bought a new position in shares of Fabrinet during the fourth quarter worth $83,000. American Beacon Advisors Inc. purchased a new position in Fabrinet during the third quarter valued at $164,000. Finally, Cornerstone Investment Partners LLC purchased a new position in Fabrinet during the fourth quarter valued at $219,000. Hedge funds and other institutional investors own 94.47% of the company’s stock.
In other news, EVP Edward T. Archer sold 2,260 shares of the stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $86.85, for a total transaction of $196,281.00. Following the transaction, the executive vice president now directly owns 26,211 shares in the company, valued at $2,276,425.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rollance E. Olson sold 7,000 shares of Fabrinet stock in a transaction that occurred on Thursday, February 4th. The shares were sold at an average price of $86.33, for a total transaction of $604,310.00. Following the transaction, the director now directly owns 41,540 shares in the company, valued at $3,586,148.20. The disclosure for this sale can be found here. Insiders sold a total of 25,836 shares of company stock valued at $2,251,905 over the last quarter. Company insiders own 0.67% of the company’s stock.
A number of brokerages have recently weighed in on FN. Needham & Company LLC raised their price objective on Fabrinet from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 2nd. Northland Securities lifted their price objective on Fabrinet from $80.00 to $90.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 12th. Scotiabank reiterated a “hold” rating and set a $38.00 target price on shares of Fabrinet in a research report on Wednesday, February 3rd. B. Riley boosted their price target on shares of Fabrinet from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Wednesday, February 3rd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $73.78.
Fabrinet stock opened at $88.72 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.32 and a quick ratio of 2.37. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 27.64 and a beta of 1.01. The firm has a 50-day moving average of $84.76 and a two-hundred day moving average of $72.03. Fabrinet has a 1 year low of $44.00 and a 1 year high of $90.61.
Fabrinet (NYSE:FN) last posted its quarterly earnings results on Sunday, January 31st. The technology company reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.06. Fabrinet had a net margin of 7.18% and a return on equity of 13.37%. Research analysts expect that Fabrinet will post 3.65 earnings per share for the current year.
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.
Further Reading: Stop Order Uses For Individual Investors
Want to see what other hedge funds are holding FN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fabrinet (NYSE:FN).
Receive News & Ratings for Fabrinet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Fabrinet and related companies with MarketBeat.com’s FREE daily email newsletter.
Powered by WPeMatico