Yousif Capital Management LLC Lowers Position in Fabrinet (NYSE:FN)

Yousif Capital Management LLC lessened its stake in Fabrinet (NYSE:FN) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,273 shares of the technology company’s stock after selling 142 shares during the period. Yousif Capital Management LLC’s holdings in Fabrinet were worth $3,478,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Park Place Capital Corp purchased a new stake in Fabrinet in the 4th quarter worth approximately $26,000. Salem Investment Counselors Inc. purchased a new stake in Fabrinet in the 4th quarter worth approximately $29,000. GAMMA Investing LLC purchased a new stake in Fabrinet in the 4th quarter worth approximately $34,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Fabrinet in the 4th quarter worth approximately $52,000. Finally, Orion Capital Management LLC purchased a new stake in Fabrinet in the 3rd quarter worth approximately $47,000. 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 firm’s stock in a transaction 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 owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FN shares. Rosenblatt Securities reiterated 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. increased their target price on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and increased their target price for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Finally, Needham & Company LLC decreased their target price on Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Fabrinet presently has an average rating of “Moderate Buy” and an average price target of $159.57.

Fabrinet Stock Performance

Shares of FN stock opened at $175.45 on Friday. The stock’s fifty day moving average is $191.71 and its two-hundred day moving average is $185.19. The firm has a market capitalization of $6.37 billion, a P/E ratio of 25.35 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.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. The company had revenue of $712.69 million for the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. On average, equities analysts forecast that Fabrinet will post 7.59 earnings per share for the current year.

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.