Everence Capital Management Inc. Lowers Holdings in Fabrinet (NYSE:FN)

Everence Capital Management Inc. decreased its holdings in Fabrinet (NYSE:FN) by 10.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,750 shares of the technology company’s stock after selling 670 shares during the period. Everence Capital Management Inc.’s holdings in Fabrinet were worth $1,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FN. Capital International Investors grew its holdings in Fabrinet by 108.1% in the 1st quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock valued at $160,835,000 after buying an additional 794,833 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Fabrinet by 1,165.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 625,576 shares of the technology company’s stock worth $6,388,000 after purchasing an additional 576,147 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Fabrinet by 190.0% during the 4th quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock worth $107,309,000 after purchasing an additional 369,389 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Fabrinet during the 1st quarter worth about $33,032,000. Finally, Wellington Management Group LLP grew its holdings in shares of Fabrinet by 90.6% during the 1st quarter. Wellington Management Group LLP now owns 413,227 shares of the technology company’s stock worth $43,443,000 after purchasing an additional 196,477 shares during the period. Hedge funds and other 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 the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $205.52, for a total value of $2,055,200.00. Following the transaction, the director now directly owns 25,981 shares of the company’s stock, valued at approximately $5,339,615.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.51% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FN. Rosenblatt Securities reiterated a “buy” rating and set a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. Needham & Company LLC decreased 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. JPMorgan Chase & Co. boosted their target price on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Fabrinet has an average rating of “Moderate Buy” and an average target price of $159.57.

Fabrinet Stock Down 0.0 %

NYSE FN opened at $172.85 on Wednesday. The stock has a market cap of $6.28 billion, a PE ratio of 24.97 and a beta of 1.04. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02. The business has a 50 day moving average price of $196.69 and a two-hundred day moving average price of $185.55.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The firm had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. Sell-side analysts anticipate that Fabrinet will post 7.64 EPS for the current fiscal year.

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 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.