Raymond James & Associates Has $5.51 Million Stock Position in Fabrinet (NYSE:FN)

Raymond James & Associates trimmed its position in shares of Fabrinet (NYSE:FN) by 24.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,941 shares of the technology company’s stock after selling 9,414 shares during the quarter. Raymond James & Associates owned 0.08% of Fabrinet worth $5,508,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. purchased a new stake in shares of Fabrinet in the fourth quarter worth approximately $29,000. Baker Tilly Wealth Management LLC bought a new stake in Fabrinet in the 4th quarter worth about $306,000. Legacy Wealth Asset Management LLC bought a new stake in Fabrinet in the 4th quarter worth about $247,000. Ausbil Investment Management Ltd purchased a new stake in Fabrinet in the 4th quarter valued at about $200,000. Finally, First Hawaiian Bank lifted its position in shares of Fabrinet by 542.2% during the 4th quarter. First Hawaiian Bank now owns 8,940 shares of the technology company’s stock worth $1,702,000 after buying an additional 7,548 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Transactions at Fabrinet

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

Fabrinet Price Performance

Shares of NYSE FN opened at $188.95 on Wednesday. The stock has a market capitalization of $6.86 billion, a P/E ratio of 27.30 and a beta of 1.04. Fabrinet has a one year low of $90.19 and a one year high of $229.02. The firm’s 50 day simple moving average is $200.50 and its two-hundred day simple moving average is $185.04.

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 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 business had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. As a group, equities analysts expect that Fabrinet will post 7.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FN has been the subject of a number of research analyst reports. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and increased their price target for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Needham & Company LLC lowered their target price on Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. lowered shares of Fabrinet from an “overweight” rating to a “neutral” rating and increased their price target for the company from $185.00 to $210.00 in a research report on Monday, January 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Fabrinet in a research report on Tuesday, February 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Fabrinet currently has an average rating of “Moderate Buy” and an average price target of $159.29.

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.