Paradigm Capital Management Inc. NY cut its position in shares of Fabrinet (NYSE:FN) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 632,600 shares of the technology company’s stock after selling 19,600 shares during the period. Fabrinet comprises 1.6% of Paradigm Capital Management Inc. NY’s investment portfolio, making the stock its 25th largest position. Paradigm Capital Management Inc. NY’s holdings in Fabrinet were worth $18,155,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Fabrinet by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,042,651 shares of the technology company’s stock worth $75,701,000 after acquiring an additional 14,887 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Fabrinet by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 1,984,041 shares of the technology company’s stock worth $84,640,000 after acquiring an additional 90,477 shares in the last quarter. Royce & Associates LP boosted its stake in shares of Fabrinet by 11.1% during the 3rd quarter. Royce & Associates LP now owns 1,551,460 shares of the technology company’s stock worth $57,497,000 after acquiring an additional 155,010 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in shares of Fabrinet by 540.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,062,930 shares of the technology company’s stock worth $30,506,000 after acquiring an additional 896,930 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Fabrinet by 5.8% during the 2nd quarter. State Street Corp now owns 859,659 shares of the technology company’s stock worth $36,676,000 after acquiring an additional 47,397 shares in the last quarter. Institutional investors own 96.45% of the company’s stock.

Several research firms have recently weighed in on FN. ValuEngine raised Fabrinet from a “hold” rating to a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. lowered Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price objective for the company. in a research note on Tuesday, November 7th. Northland Securities set a $37.00 price objective on Fabrinet and gave the stock a “buy” rating in a research note on Monday, January 29th. Needham & Company LLC reduced their price objective on Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating for the company in a research note on Tuesday, November 7th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of Fabrinet in a research note on Friday, November 10th. Two research analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $41.25.

In related news, insider David T. Mitchell sold 50,000 shares of Fabrinet stock in a transaction on Friday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $1,546,500.00. Following the completion of the sale, the insider now owns 111,057 shares of the company’s stock, valued at $3,434,993.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David T. Mitchell sold 8,600 shares of Fabrinet stock in a transaction on Monday, January 8th. The shares were sold at an average price of $30.02, for a total value of $258,172.00. Following the sale, the insider now directly owns 111,057 shares of the company’s stock, valued at approximately $3,333,931.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,401 shares of company stock valued at $3,900,098. 3.30% of the stock is currently owned by insiders.

Shares of Fabrinet (NYSE:FN) opened at $29.53 on Friday. The company has a market capitalization of $1,100.91, a price-to-earnings ratio of 12.57, a PEG ratio of 1.16 and a beta of 0.75. The company has a quick ratio of 1.85, a current ratio of 2.84 and a debt-to-equity ratio of 0.02. Fabrinet has a 12-month low of $24.02 and a 12-month high of $49.63.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, February 5th. The technology company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.02. The business had revenue of $337.10 million during the quarter, compared to analysts’ expectations of $329.41 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. Fabrinet’s revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 earnings per share. research analysts expect that Fabrinet will post 2.12 EPS for the current year.

Fabrinet announced that its board has initiated a share repurchase plan on Monday, February 5th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

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About Fabrinet

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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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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