Fabrinet (FN) Shares Sold by Advisor Group Inc.
Advisor Group Inc. lessened its position in shares of Fabrinet (NYSE:FN) by 18.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,175 shares of the technology company’s stock after selling 487 shares during the quarter. Advisor Group Inc.’s holdings in Fabrinet were worth $111,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in shares of Fabrinet by 7.1% in the third quarter. Bank of New York Mellon Corp now owns 1,169,366 shares of the technology company’s stock worth $54,095,000 after buying an additional 77,284 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Fabrinet by 578.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,565 shares of the technology company’s stock valued at $397,000 after purchasing an additional 7,303 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of Fabrinet during the 3rd quarter valued at $1,135,000. BlackRock Inc. increased its holdings in shares of Fabrinet by 4.3% in the third quarter. BlackRock Inc. now owns 5,227,542 shares of the technology company’s stock worth $241,826,000 after purchasing an additional 215,696 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of Fabrinet in the third quarter worth $3,493,000. Hedge funds and other institutional investors own 96.92% of the company’s stock.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Fabrinet from a “hold” rating to a “buy” rating and set a $63.00 price objective for the company in a research note on Friday, January 11th. Needham & Company LLC restated a “buy” rating and issued a $62.00 target price (up from $58.00) on shares of Fabrinet in a research note on Tuesday, December 18th. ValuEngine cut Fabrinet from a “buy” rating to a “hold” rating in a report on Monday, April 1st. Finally, Piper Jaffray Companies raised their price target on Fabrinet from $63.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.17.
Shares of Fabrinet stock opened at $55.65 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.19 and a quick ratio of 2.26. Fabrinet has a 1 year low of $27.69 and a 1 year high of $59.94. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 18.67, a P/E/G ratio of 1.32 and a beta of 0.58.
Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, February 4th. The technology company reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.05. The firm had revenue of $403.10 million for the quarter, compared to analyst estimates of $386.22 million. Fabrinet had a net margin of 7.08% and a return on equity of 14.91%. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 EPS. Equities research analysts predict that Fabrinet will post 3.22 earnings per share for the current fiscal year.
Fabrinet Company 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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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