Fabrinet (FN) Position Lifted by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in Fabrinet (NYSE:FN) by 39.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,767 shares of the technology company’s stock after acquiring an additional 8,434 shares during the quarter. Russell Investments Group Ltd.’s holdings in Fabrinet were worth $1,377,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FN. Paradigm Capital Management Inc. NY bought a new position in Fabrinet in the 2nd quarter worth $29,442,000. Bank of New York Mellon Corp raised its holdings in Fabrinet by 52.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,092,082 shares of the technology company’s stock worth $40,288,000 after acquiring an additional 375,901 shares during the period. Dimensional Fund Advisors LP raised its holdings in Fabrinet by 11.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,931,441 shares of the technology company’s stock worth $108,140,000 after acquiring an additional 307,771 shares during the period. BlackRock Inc. raised its holdings in Fabrinet by 5.8% in the 2nd quarter. BlackRock Inc. now owns 5,011,846 shares of the technology company’s stock worth $184,888,000 after acquiring an additional 276,857 shares during the period. Finally, Ariel Investments LLC raised its holdings in Fabrinet by 212.7% in the 2nd quarter. Ariel Investments LLC now owns 182,189 shares of the technology company’s stock worth $6,721,000 after acquiring an additional 123,920 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.

NYSE:FN opened at $47.97 on Friday. Fabrinet has a 52-week low of $24.02 and a 52-week high of $54.70. The company has a current ratio of 3.00, a quick ratio of 2.09 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.79 billion, a PE ratio of 16.10, a P/E/G ratio of 1.20 and a beta of 0.65.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 5th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.24. Fabrinet had a net margin of 6.54% and a return on equity of 13.53%. The company had revenue of $377.00 million for the quarter, compared to the consensus estimate of $352.28 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, research analysts expect that Fabrinet will post 3.12 earnings per share for the current year.

In other news, Director David T. Mitchell sold 40,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $45.40, for a total transaction of $1,816,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Harpal Gill sold 33,479 shares of the business’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $52.00, for a total transaction of $1,740,908.00. Following the transaction, the chief operating officer now owns 51,860 shares in the company, valued at approximately $2,696,720. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 109,560 shares of company stock worth $5,451,323. Insiders own 1.90% of the company’s stock.

Several brokerages recently commented on FN. B. Riley downgraded shares of Fabrinet from a “buy” rating to a “neutral” rating and set a $52.00 target price on the stock. in a report on Tuesday, September 4th. Piper Jaffray Companies boosted their price objective on shares of Fabrinet from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, August 21st. Zacks Investment Research downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Friday, August 24th. ValuEngine upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Finally, Stifel Nicolaus initiated coverage on shares of Fabrinet in a report on Monday, October 22nd. They set a “buy” rating and a $53.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $50.17.

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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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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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