Strs Ohio Boosts Holdings in Fabrinet (NYSE:FN)

Strs Ohio lifted its stake in Fabrinet (NYSE:FN) by 5.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,500 shares of the technology company’s stock after purchasing an additional 1,100 shares during the quarter. Strs Ohio owned 0.06% of Fabrinet worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Fabrinet in the 4th quarter worth about $17,661,000. JPMorgan Chase & Co. raised its position in Fabrinet by 23.4% in the 1st quarter. JPMorgan Chase & Co. now owns 999,623 shares of the technology company’s stock worth $52,341,000 after buying an additional 189,390 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Fabrinet in the 1st quarter worth about $8,955,000. FMR LLC raised its position in Fabrinet by 4.0% in the 1st quarter. FMR LLC now owns 2,848,772 shares of the technology company’s stock worth $149,162,000 after buying an additional 108,412 shares during the last quarter. Finally, Deutsche Bank AG raised its position in Fabrinet by 89.4% in the 4th quarter. Deutsche Bank AG now owns 224,897 shares of the technology company’s stock worth $11,537,000 after buying an additional 106,167 shares during the last quarter. 93.81% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on FN. JPMorgan Chase & Co. began coverage on Fabrinet in a research report on Monday, July 29th. They issued a “neutral” rating and a $57.00 target price for the company. Zacks Investment Research lowered Fabrinet from a “buy” rating to a “hold” rating in a research report on Tuesday, May 28th. ValuEngine lowered Fabrinet from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Needham & Company LLC boosted their target price on Fabrinet from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Northland Securities reissued a “hold” rating and issued a $47.50 target price on shares of Fabrinet in a research report on Monday, July 1st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $58.93.

In other Fabrinet news, Director David T. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $52.14, for a total transaction of $1,564,200.00. Following the completion of the sale, the director now directly owns 73,748 shares in the company, valued at approximately $3,845,220.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders have sold 90,000 shares of company stock valued at $4,466,100. Corporate insiders own 1.90% of the company’s stock.

Fabrinet stock opened at $55.06 on Wednesday. The company’s 50-day moving average price is $52.07. The company has a market cap of $1.98 billion, a P/E ratio of 18.48, a P/E/G ratio of 1.15 and a beta of 1.00. Fabrinet has a 52-week low of $40.94 and a 52-week high of $62.31. The company has a current ratio of 3.23, a quick ratio of 2.30 and a debt-to-equity ratio of 0.07.

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 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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