Barclays PLC Lowers Stock Holdings in Fabrinet (NYSE:FN)

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Barclays PLC reduced its holdings in Fabrinet (NYSE:FN) by 7.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,114 shares of the technology company’s stock after selling 3,885 shares during the quarter. Barclays PLC’s holdings in Fabrinet were worth $2,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Fabrinet by 4.5% during the second quarter. Vanguard Group Inc. now owns 3,254,678 shares of the technology company’s stock worth $161,660,000 after acquiring an additional 139,078 shares during the last quarter. Invesco Ltd. raised its stake in shares of Fabrinet by 233.9% during the second quarter. Invesco Ltd. now owns 1,106,512 shares of the technology company’s stock valued at $54,961,000 after purchasing an additional 775,118 shares during the period. Wasatch Advisors Inc. lifted its position in shares of Fabrinet by 52.7% during the second quarter. Wasatch Advisors Inc. now owns 956,963 shares of the technology company’s stock worth $47,532,000 after purchasing an additional 330,086 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Fabrinet by 5.1% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 721,769 shares of the technology company’s stock worth $37,748,000 after purchasing an additional 35,013 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Fabrinet by 12.1% in the second quarter. Northern Trust Corp now owns 717,900 shares of the technology company’s stock valued at $35,658,000 after purchasing an additional 77,212 shares during the period. Hedge funds and other institutional investors own 97.46% of the company’s stock.

Several equities research analysts recently issued reports on FN shares. Northland Securities reaffirmed a “buy” rating and set a $70.00 price target on shares of Fabrinet in a research note on Thursday, November 14th. Piper Jaffray Companies lifted their target price on Fabrinet from $64.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Needham & Company LLC set a $70.00 price target on Fabrinet and gave the stock a “buy” rating in a research note on Monday, August 26th. Zacks Investment Research raised Fabrinet from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus lowered their price objective on Fabrinet from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $65.17.

In related news, Director David T. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $60.36, for a total transaction of $1,810,800.00. Following the sale, the director now directly owns 27,402 shares of the company’s stock, valued at approximately $1,653,984.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Harpal Gill sold 12,942 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $60.59, for a total value of $784,155.78. Following the transaction, the chief operating officer now owns 64,725 shares in the company, valued at $3,921,687.75. The disclosure for this sale can be found here. Insiders sold 125,777 shares of company stock valued at $7,172,798 over the last quarter. Insiders own 1.00% of the company’s stock.

NYSE FN opened at $58.69 on Wednesday. Fabrinet has a 12 month low of $42.33 and a 12 month high of $62.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.25 and a quick ratio of 2.26. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 17.52 and a beta of 1.07. The company’s fifty day moving average price is $57.40 and its two-hundred day moving average price is $52.25.

Fabrinet (NYSE:FN) last released its earnings results on Monday, November 4th. The technology company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.14. The company had revenue of $399.00 million during the quarter, compared to the consensus estimate of $390.30 million. Fabrinet had a net margin of 7.41% and a return on equity of 14.48%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 EPS. As a group, analysts anticipate that Fabrinet will post 3.18 EPS 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 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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