WINTON GROUP Ltd Raises Holdings in Fabrinet $FN

WINTON GROUP Ltd lifted its position in Fabrinet (NYSE:FN) by 233.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 8,405 shares of the technology company’s stock after acquiring an additional 5,881 shares during the quarter. WINTON GROUP Ltd’s holdings in Fabrinet were worth $4,724,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in Fabrinet by 72,124.7% during the 2nd quarter. California State Teachers Retirement System now owns 30,151,657 shares of the technology company’s stock valued at $16,947,643,000 after buying an additional 30,109,910 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Fabrinet by 163.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company’s stock worth $1,839,891,000 after acquiring an additional 2,504,841 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Fabrinet by 45.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock valued at $524,432,000 after acquiring an additional 553,196 shares during the last quarter. Paradigm Capital Management Inc. NY bought a new position in shares of Fabrinet during the 2nd quarter valued at approximately $298,183,000. Finally, Norges Bank purchased a new position in shares of Fabrinet in the fourth quarter valued at $193,766,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Edward Archer sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total transaction of $964,775.00. Following the transaction, the executive vice president directly owned 7,007 shares in the company, valued at approximately $2,704,071.37. This represents a 26.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

FN has been the topic of several research reports. Zacks Research cut shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $680.00 to $695.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 18th. Rosenblatt Securities restated a “buy” rating and issued a $750.00 target price on shares of Fabrinet in a report on Tuesday, August 18th. Wall Street Zen cut shares of Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Barclays increased their price target on shares of Fabrinet from $702.00 to $739.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $649.50.

Fabrinet Stock Down 3.6%

NYSE FN opened at $403.25 on Friday. The company has a fifty day moving average of $472.32 and a two-hundred day moving average of $561.31. The firm has a market capitalization of $14.45 billion, a price-to-earnings ratio of 30.90 and a beta of 1.21. Fabrinet has a 52 week low of $348.01 and a 52 week high of $748.89.

Fabrinet (NYSE:FN) last announced its earnings results on Tuesday, August 18th. The technology company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.81 by $0.29. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. The business’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.65 earnings per share. Equities research analysts anticipate that Fabrinet will post 17.5 EPS for the current year.

Fabrinet Company Profile

Fabrinet (NYSE: FN) is a provider of advanced manufacturing services for original equipment manufacturers and other technology companies. The company specializes in precision optical, electromechanical and electronic manufacturing, helping customers design, assemble, test and package complex products.

Its capabilities support products used in optical communications, including components, modules and transceivers for telecommunications and data-center networks. Fabrinet also provides manufacturing services for industrial lasers, medical devices, automotive applications, and aerospace and defense products.