Fabrinet (NYSE:FN) Shares Sold by Wealth Alliance

Wealth Alliance lowered its stake in Fabrinet (NYSE:FN) by 5.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,177 shares of the technology company’s stock after selling 74 shares during the quarter. Wealth Alliance’s holdings in Fabrinet were worth $224,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. BlackRock Inc. raised its position in Fabrinet by 1.7% in the first quarter. BlackRock Inc. now owns 5,776,976 shares of the technology company’s stock worth $686,074,000 after acquiring an additional 93,882 shares in the last quarter. Vanguard Group Inc. raised its position in Fabrinet by 0.4% in the third quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock worth $722,017,000 after acquiring an additional 16,228 shares in the last quarter. FMR LLC raised its position in Fabrinet by 9.7% in the third quarter. FMR LLC now owns 1,987,726 shares of the technology company’s stock worth $331,195,000 after acquiring an additional 174,945 shares in the last quarter. Capital International Investors raised its position in Fabrinet by 108.1% in the first quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock worth $160,835,000 after acquiring an additional 794,833 shares in the last quarter. Finally, State Street Corp raised its position in Fabrinet by 0.8% in the second quarter. State Street Corp now owns 1,258,991 shares of the technology company’s stock worth $163,518,000 after acquiring an additional 9,757 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on FN shares. Rosenblatt Securities reiterated a “buy” rating and issued a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Needham & Company LLC cut their price objective on Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.57.

Insider Buying and Selling at Fabrinet

In related news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of the sale, the director now owns 25,981 shares of the company’s stock, valued at approximately $5,339,615.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.51% of the company’s stock.

Fabrinet Price Performance

NYSE:FN opened at $162.32 on Friday. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02. The stock’s 50-day moving average is $194.70 and its two-hundred day moving average is $185.23. The stock has a market cap of $5.89 billion, a PE ratio of 23.46 and a beta of 1.04.

Fabrinet (NYSE:FN) last released its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The company had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. On average, equities research analysts anticipate that Fabrinet will post 7.64 earnings per share for the current year.

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.