American Trust Sells 269 Shares of Fabrinet (NYSE:FN)

American Trust lessened its position in Fabrinet (NYSE:FN) by 18.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,166 shares of the technology company’s stock after selling 269 shares during the quarter. American Trust’s holdings in Fabrinet were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Congress Asset Management Co. MA bought a new position in shares of Fabrinet during the fourth quarter valued at about $99,045,000. Baillie Gifford & Co. grew its stake in shares of Fabrinet by 190.0% in the fourth 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 last quarter. TD Asset Management Inc grew its stake in shares of Fabrinet by 216.1% in the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after purchasing an additional 280,145 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Fabrinet by 291.0% in the first quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock worth $52,081,000 after purchasing an additional 205,057 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in shares of Fabrinet in the first quarter worth about $15,637,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Down 5.8 %

Shares of FN stock traded down $12.41 during trading hours on Friday, hitting $202.56. 517,569 shares of the company’s stock traded hands, compared to its average volume of 361,072. The stock’s fifty day simple moving average is $239.09 and its two-hundred day simple moving average is $213.35. Fabrinet has a 12-month low of $114.83 and a 12-month high of $266.39. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 26.90 and a beta of 0.96.

Fabrinet (NYSE:FN) last released its earnings results on Monday, May 6th. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.28. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. The firm had revenue of $731.54 million during the quarter, compared to analyst estimates of $718.94 million. On average, equities analysts forecast that Fabrinet will post 7.95 earnings per share for the current fiscal year.

Insider Activity at Fabrinet

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

Analysts Set New Price Targets

FN has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of Fabrinet in a report on Tuesday, May 7th. Jefferies Financial Group initiated coverage on shares of Fabrinet in a report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Finally, B. Riley lowered their price objective on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Fabrinet has an average rating of “Moderate Buy” and an average price target of $168.67.

About Fabrinet

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.