Maryland State Retirement & Pension System Has $2.51 Million Position in Fabrinet (NYSE:FN)

Maryland State Retirement & Pension System lowered its position in shares of Fabrinet (NYSE:FN) by 1.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,204 shares of the technology company’s stock after selling 165 shares during the period. Maryland State Retirement & Pension System’s holdings in Fabrinet were worth $2,513,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FN. Commonwealth Equity Services LLC raised its holdings in shares of Fabrinet by 12.8% during the third quarter. Commonwealth Equity Services LLC now owns 3,636 shares of the technology company’s stock valued at $606,000 after purchasing an additional 414 shares during the period. Xponance Inc. lifted its position in shares of Fabrinet by 6.8% during the 3rd quarter. Xponance Inc. now owns 2,313 shares of the technology company’s stock valued at $385,000 after buying an additional 147 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Fabrinet by 3.5% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock worth $368,000 after purchasing an additional 75 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Fabrinet by 52.8% in the 3rd quarter. New York State Teachers Retirement System now owns 28,667 shares of the technology company’s stock worth $4,776,000 after buying an additional 9,900 shares during the period. Finally, Park Avenue Securities LLC purchased a new position in shares of Fabrinet in the third quarter valued at $328,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Ratings Changes

FN has been the topic of a number of research analyst reports. Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st. B. Riley reduced their price objective on Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Rosenblatt Securities restated a “buy” rating and set a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Fabrinet in a research note on Tuesday. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.00.

Fabrinet Price Performance

Shares of Fabrinet stock traded down $4.90 during trading on Wednesday, hitting $204.41. The stock had a trading volume of 95,306 shares, compared to its average volume of 457,701. The firm’s fifty day simple moving average is $189.76 and its 200-day simple moving average is $185.77. Fabrinet has a 12 month low of $90.19 and a 12 month high of $229.02. The stock has a market cap of $7.42 billion, a PE ratio of 30.24 and a beta of 1.04.

Fabrinet (NYSE:FN) last released its quarterly earnings data 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. The company had revenue of $712.69 million during the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. Analysts expect that Fabrinet will post 7.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the sale, the director now directly owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.51% of the company’s stock.

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.