Fabrinet (NYSE:FN) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its position in shares of Fabrinet (NYSE:FN) by 12.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 25,307 shares of the technology company’s stock after selling 3,526 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Fabrinet were worth $4,817,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Park Place Capital Corp purchased a new stake in Fabrinet in the fourth quarter valued at $26,000. Salem Investment Counselors Inc. purchased a new stake in Fabrinet in the 4th quarter valued at about $29,000. GAMMA Investing LLC acquired a new position in Fabrinet in the fourth quarter valued at about $34,000. Orion Capital Management LLC purchased a new position in Fabrinet during the third quarter worth about $47,000. Finally, McGlone Suttner Wealth Management Inc. purchased a new position in Fabrinet during the fourth quarter worth about $52,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the sale, the director now directly 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 available through the SEC website. 0.51% of the stock is owned by insiders.

Fabrinet Trading Up 2.9 %

Fabrinet stock opened at $179.22 on Monday. The stock’s fifty day simple moving average is $189.84 and its 200-day simple moving average is $185.25. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02. The firm has a market capitalization of $6.51 billion, a P/E ratio of 25.90 and a beta of 1.04.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. The business had revenue of $712.69 million during the quarter, compared to the consensus estimate of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. Sell-side analysts predict that Fabrinet will post 7.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FN. Needham & Company LLC reduced their price target on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $230.00 target price on shares of Fabrinet in a research report on Tuesday, February 6th. Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $200.00 to $220.00 in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fabrinet presently has an average rating of “Moderate Buy” and an average price target of $159.57.

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.