Henry James International Management Inc. Lowers Holdings in Fabrinet (NYSE:FN)

Henry James International Management Inc. reduced its stake in shares of Fabrinet (NYSE:FN) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,175 shares of the technology company’s stock after selling 233 shares during the quarter. Henry James International Management Inc.’s holdings in Fabrinet were worth $1,937,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FN. Park Place Capital Corp purchased a new position in shares of Fabrinet in the 4th quarter valued at about $26,000. Salem Investment Counselors Inc. purchased a new position in shares of Fabrinet during the 4th quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new stake in Fabrinet in the 4th quarter valued at $34,000. Orion Capital Management LLC purchased a new stake in Fabrinet in the 3rd quarter worth $47,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Fabrinet during the fourth quarter worth $52,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the sale, the director now directly owns 25,981 shares of the company’s stock, valued at approximately $5,339,615.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.51% of the company’s stock.

Fabrinet Trading Up 2.9 %

Shares of Fabrinet stock traded up $5.03 on Friday, hitting $179.22. The stock had a trading volume of 599,682 shares, compared to its average volume of 432,498. The company’s 50 day moving average price is $189.84 and its 200 day moving average price is $185.13. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 25.90 and a beta of 1.04. Fabrinet has a 52-week low of $90.19 and a 52-week high of $229.02.

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

Analysts Set New Price Targets

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

About Fabrinet

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.