Fabrinet (NYSE:FN) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Fabrinet (NYSE:FN) by 28.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,796 shares of the technology company’s stock after selling 22,756 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.16% of Fabrinet worth $11,000,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Capital International Investors raised its holdings in Fabrinet by 108.1% in the first quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock valued at $160,835,000 after acquiring an additional 794,833 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Fabrinet by 1,165.6% in the first quarter. Envestnet Asset Management Inc. now owns 625,576 shares of the technology company’s stock valued at $6,388,000 after acquiring an additional 576,147 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Fabrinet by 190.0% in the fourth quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock valued at $107,309,000 after acquiring an additional 369,389 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in Fabrinet in the first quarter valued at $33,032,000. Finally, Wellington Management Group LLP raised its holdings in Fabrinet by 90.6% in the first quarter. Wellington Management Group LLP now owns 413,227 shares of the technology company’s stock valued at $43,443,000 after acquiring an additional 196,477 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on FN shares. Needham & Company LLC cut their price target on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. JPMorgan Chase & Co. increased their target price on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Rosenblatt Securities reissued a “buy” rating and set a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. Finally, Northland Securities raised shares of Fabrinet from a “market perform” rating to an “outperform” rating and increased their target price 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $159.57.

Fabrinet Stock Down 1.7 %

FN stock 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 firm’s 50-day simple moving average is $194.70 and its 200 day simple 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 quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The business had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. Equities analysts forecast that Fabrinet will post 7.59 EPS for the current fiscal year.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the transaction, the director now owns 25,981 shares of the company’s stock, valued at approximately $5,339,615.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.51% of the stock is owned by corporate insiders.

Fabrinet 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.