First Hawaiian Bank Sells 144 Shares of Fabrinet (NYSE:FN)

First Hawaiian Bank lessened its stake in Fabrinet (NYSE:FN) by 1.5% during the second quarter, HoldingsChannel reports. The firm owned 9,484 shares of the technology company’s stock after selling 144 shares during the period. First Hawaiian Bank’s holdings in Fabrinet were worth $2,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of FN. Vanguard Group Inc. grew its stake in Fabrinet by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company’s stock valued at $821,986,000 after buying an additional 38,999 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Fabrinet by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 977,459 shares of the technology company’s stock valued at $186,051,000 after buying an additional 16,551 shares in the last quarter. Baillie Gifford & Co. grew its stake in Fabrinet by 190.0% in the 4th quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock valued at $107,309,000 after buying an additional 369,389 shares in the last quarter. Congress Asset Management Co. MA grew its stake in Fabrinet by 0.7% in the 1st quarter. Congress Asset Management Co. MA now owns 524,068 shares of the technology company’s stock valued at $99,059,000 after buying an additional 3,684 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Fabrinet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 427,946 shares of the technology company’s stock valued at $81,451,000 after buying an additional 7,156 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling

In related news, Director Frank H. Levinson sold 6,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $241.71, for a total value of $1,450,260.00. Following the completion of the transaction, the director now directly owns 5,709 shares of the company’s stock, valued at $1,379,922.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.51% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FN. B. Riley decreased their price target on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 price target on shares of Fabrinet in a report on Tuesday, May 7th. Jefferies Financial Group began coverage on shares of Fabrinet in a report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $168.67.

Fabrinet Stock Down 3.0 %

Shares of Fabrinet stock traded down $6.16 during trading on Monday, reaching $196.40. 415,848 shares of the stock were exchanged, compared to its average volume of 437,915. The stock’s fifty day moving average is $239.09 and its 200 day moving average is $213.54. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 26.90 and a beta of 0.96. Fabrinet has a 1 year low of $114.83 and a 1 year high of $266.39.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, May 6th. The technology company reported $2.21 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.28. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. The company had revenue of $731.54 million during the quarter, compared to analyst estimates of $718.94 million. Equities analysts forecast that Fabrinet will post 7.95 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.