Fabrinet (NYSE:FN) Shares Down 5.5%

Fabrinet (NYSE:FNGet Free Report) shares dropped 5.5% on Monday . The stock traded as low as $202.08 and last traded at $202.74. Approximately 93,399 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 431,267 shares. The stock had previously closed at $214.58.

Analyst Ratings Changes

FN has been the topic of several research reports. JPMorgan Chase & Co. cut shares of Fabrinet from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $185.00 to $210.00 in a research report on Monday, January 8th. Northland Securities lowered shares of Fabrinet from an “outperform” rating to a “market perform” rating and set a $200.00 price objective for the company. in a research note on Tuesday, February 6th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $230.00 price objective on shares of Fabrinet in a research note on Tuesday, February 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.57.

Read Our Latest Research Report on FN

Fabrinet Stock Performance

The firm has a fifty day moving average price of $201.74 and a 200 day moving average price of $179.61. The stock has a market cap of $7.32 billion, a PE ratio of 29.12 and a beta of 1.05.

Fabrinet (NYSE:FNGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 EPS 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 firm had revenue of $712.69 million during the quarter, compared to analyst estimates of $699.76 million. On average, equities research analysts forecast that Fabrinet will post 7.64 earnings per share for the current year.

Insider Activity

In related news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the director now owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.51% of the company’s stock.

Institutional Investors Weigh In On Fabrinet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. grew its position in shares of Fabrinet by 3.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 7,265 shares of the technology company’s stock valued at $1,210,000 after acquiring an additional 211 shares during the period. TD Asset Management Inc grew its position in shares of Fabrinet by 432.0% during the 2nd quarter. TD Asset Management Inc now owns 13,300 shares of the technology company’s stock valued at $1,727,000 after acquiring an additional 10,800 shares during the period. Nuveen Asset Management LLC grew its position in shares of Fabrinet by 13.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 460,037 shares of the technology company’s stock valued at $59,750,000 after acquiring an additional 54,158 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Fabrinet by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 420,790 shares of the technology company’s stock valued at $70,112,000 after acquiring an additional 32,147 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of Fabrinet by 59.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 28,833 shares of the technology company’s stock valued at $4,804,000 after acquiring an additional 10,773 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Company Profile

(Get Free Report)

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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