Paradiem LLC Sells 9,163 Shares of Fabrinet (NYSE:FN)

Paradiem LLC reduced its holdings in Fabrinet (NYSE:FN) by 32.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,367 shares of the technology company’s stock after selling 9,163 shares during the quarter. Paradiem LLC owned about 0.05% of Fabrinet worth $3,686,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Campbell Newman Asset Management Inc. increased its holdings in shares of Fabrinet by 0.4% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock valued at $3,406,000 after acquiring an additional 64 shares in the last quarter. Signaturefd LLC boosted its position in shares of Fabrinet by 15.9% during the third quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock valued at $84,000 after buying an additional 69 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Fabrinet by 3.5% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock valued at $368,000 after buying an additional 75 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Fabrinet by 3.2% during the third quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company’s stock valued at $399,000 after buying an additional 75 shares during the last quarter. Finally, Mariner LLC boosted its position in shares of Fabrinet by 2.1% during the third quarter. Mariner LLC now owns 4,103 shares of the technology company’s stock valued at $684,000 after buying an additional 85 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of Fabrinet stock in a transaction dated 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 transaction, the director now 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 link. Insiders own 0.51% of the company’s stock.

Fabrinet Stock Up 1.9 %

Fabrinet stock traded up $3.25 during midday trading on Friday, reaching $175.45. The stock had a trading volume of 218,112 shares, compared to its average volume of 417,698. Fabrinet has a 12 month low of $90.19 and a 12 month high of $229.02. The firm’s 50-day moving average price is $191.71 and its 200 day moving average price is $185.19. The firm has a market capitalization of $6.37 billion, a PE ratio of 25.35 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. The business had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. Equities research analysts expect that Fabrinet will post 7.59 EPS for the current year.

Analysts Set New Price Targets

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