Tocqueville Asset Management L.P. reduced its holdings in shares of Fabrinet (NYSE:FN) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 189,169 shares of the technology company’s stock after selling 1,780 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.51% of Fabrinet worth $12,266,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of FN. Renaissance Group LLC lifted its stake in Fabrinet by 1.3% in the 3rd quarter. Renaissance Group LLC now owns 14,161 shares of the technology company’s stock valued at $741,000 after buying an additional 188 shares in the last quarter. Mason Street Advisors LLC raised its holdings in shares of Fabrinet by 1.8% in the third quarter. Mason Street Advisors LLC now owns 12,516 shares of the technology company’s stock worth $655,000 after acquiring an additional 221 shares during the last quarter. United Services Automobile Association raised its holdings in shares of Fabrinet by 3.6% in the second quarter. United Services Automobile Association now owns 9,614 shares of the technology company’s stock worth $478,000 after acquiring an additional 331 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new stake in shares of Fabrinet in the third quarter valued at $32,000. Finally, California State Teachers Retirement System boosted its stake in shares of Fabrinet by 1.2% during the third quarter. California State Teachers Retirement System now owns 56,819 shares of the technology company’s stock valued at $2,972,000 after acquiring an additional 679 shares during the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.
Several brokerages recently weighed in on FN. Piper Jaffray Companies boosted their target price on shares of Fabrinet from $64.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Zacks Investment Research cut shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and set a $70.00 price target on shares of Fabrinet in a report on Monday, January 6th. ValuEngine raised shares of Fabrinet from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Northland Securities reissued a “buy” rating and set a $70.00 price objective on shares of Fabrinet in a research note on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $66.33.
In other news, CEO Seamus Grady sold 6,082 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $57.19, for a total value of $347,829.58. Following the transaction, the chief executive officer now directly owns 105,597 shares in the company, valued at approximately $6,039,092.43. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David T. Mitchell sold 30,000 shares of Fabrinet stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $56.93, for a total value of $1,707,900.00. Following the completion of the transaction, the director now directly owns 27,402 shares in the company, valued at $1,559,995.86. The disclosure for this sale can be found here. Insiders have sold 124,047 shares of company stock valued at $7,497,064 in the last ninety days. 1.00% of the stock is currently owned by company insiders.
NYSE FN opened at $66.03 on Wednesday. The business’s 50-day moving average price is $63.29 and its 200 day moving average price is $55.85. Fabrinet has a twelve month low of $42.33 and a twelve month high of $67.17. The company has a market capitalization of $2.48 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.57 and a beta of 1.08. The company has a current ratio of 3.25, a quick ratio of 2.26 and a debt-to-equity ratio of 0.06.
Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.14. Fabrinet had a net margin of 7.41% and a return on equity of 14.48%. The company had revenue of $399.00 million during the quarter, compared to the consensus estimate of $390.30 million. During the same quarter in the prior year, the company posted $0.92 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities analysts predict that Fabrinet will post 3.18 EPS for the current year.
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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