Fabrinet (FN) Shares Bought by Russell Investments Group Ltd.
Russell Investments Group Ltd. grew its position in shares of Fabrinet (NYSE:FN) by 139.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,821 shares of the technology company’s stock after acquiring an additional 2,810 shares during the quarter. Russell Investments Group Ltd.’s holdings in Fabrinet were worth $179,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Rhumbline Advisers increased its stake in Fabrinet by 2.6% during the third quarter. Rhumbline Advisers now owns 69,542 shares of the technology company’s stock worth $2,577,000 after acquiring an additional 1,768 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Fabrinet by 46.6% during the third quarter. Municipal Employees Retirement System of Michigan now owns 16,330 shares of the technology company’s stock worth $605,000 after acquiring an additional 5,190 shares during the last quarter. Intrust Bank NA increased its stake in Fabrinet by 77.1% during the third quarter. Intrust Bank NA now owns 8,781 shares of the technology company’s stock worth $325,000 after acquiring an additional 3,822 shares during the last quarter. Paradigm Capital Management Inc. NY increased its stake in Fabrinet by 0.5% during the third quarter. Paradigm Capital Management Inc. NY now owns 652,200 shares of the technology company’s stock worth $24,171,000 after acquiring an additional 3,500 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Fabrinet by 73.2% during the third quarter. BNP Paribas Arbitrage SA now owns 18,720 shares of the technology company’s stock worth $694,000 after acquiring an additional 7,914 shares during the last quarter. Institutional investors own 94.61% of the company’s stock.
Several equities research analysts have commented on the company. Needham & Company LLC restated a “buy” rating on shares of Fabrinet in a research note on Thursday, October 12th. Zacks Investment Research upgraded Fabrinet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. ValuEngine lowered Fabrinet from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. B. Riley lowered their target price on Fabrinet from $46.50 to $42.50 and set a “buy” rating for the company in a research note on Friday, November 3rd. Finally, JPMorgan Chase & Co. lowered Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Tuesday, November 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $46.42.
In other news, insider David T. Mitchell sold 50,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $30.93, for a total value of $1,546,500.00. Following the completion of the sale, the insider now owns 111,057 shares in the company, valued at $3,434,993.01. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 3.30% of the stock is currently owned by company insiders.
Shares of Fabrinet (FN) opened at $29.84 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 2.70 and a debt-to-equity ratio of 0.03. Fabrinet has a 12 month low of $28.35 and a 12 month high of $49.63. The stock has a market capitalization of $1,120.00, a PE ratio of 11.89, a PEG ratio of 1.11 and a beta of 1.00.
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Fabrinet Company Profile
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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