California Public Employees Retirement System Grows Stock Holdings in Fabrinet (NYSE:FN)


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California Public Employees Retirement System lifted its position in shares of Fabrinet (NYSE:FN) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,928 shares of the technology company’s stock after purchasing an additional 2,806 shares during the period. California Public Employees Retirement System owned 0.23% of Fabrinet worth $6,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new stake in shares of Fabrinet in the 3rd quarter worth about $42,000. Nisa Investment Advisors LLC bought a new position in Fabrinet in the third quarter worth about $50,000. Bartlett & Co. LLC purchased a new stake in Fabrinet in the fourth quarter worth about $83,000. American Beacon Advisors Inc. bought a new stake in Fabrinet during the 3rd quarter valued at approximately $164,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of Fabrinet during the 4th quarter worth approximately $219,000. 94.47% of the stock is currently owned by institutional investors.

Fabrinet stock opened at $88.72 on Tuesday. Fabrinet has a 1 year low of $44.00 and a 1 year high of $90.61. The firm’s 50 day moving average price is $84.76 and its 200-day moving average price is $72.03. 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 P/E ratio of 27.64 and a beta of 1.01.

Fabrinet (NYSE:FN) last posted its 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%. As a group, equities analysts expect that Fabrinet will post 3.65 EPS for the current year.

In related news, CFO Csaba Sverha sold 3,341 shares of the company’s stock in a transaction on Friday, February 5th. The shares were sold at an average price of $87.10, for a total transaction of $291,001.10. Following the sale, the chief financial officer now owns 19,110 shares of the company’s stock, valued at $1,664,481. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Harpal Gill sold 13,235 shares of Fabrinet stock in a transaction on Friday, February 5th. The stock was sold at an average price of $87.67, for a total transaction of $1,160,312.45. Following the completion of the transaction, the chief operating officer now directly owns 55,658 shares of the company’s stock, valued at $4,879,536.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,836 shares of company stock valued at $2,251,905. Company insiders own 0.67% of the company’s stock.

FN has been the topic of several research reports. Northland Securities lifted their price target on Fabrinet from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, January 12th. B. Riley upped their target price 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. Needham & Company LLC lifted their price target on shares of Fabrinet from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, February 2nd. Stifel Nicolaus upped their price objective on shares of Fabrinet from $82.00 to $94.00 and gave the stock a “buy” rating in a report on Tuesday, February 2nd. Finally, Scotiabank reiterated a “hold” rating and set a $38.00 target price on shares of Fabrinet in a report on Wednesday, February 3rd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $73.78.

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.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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