Royce & Associates LP Sells 4,092 Shares of Fabrinet (NYSE:FN)

Royce & Associates LP reduced its position in Fabrinet (NYSE:FN) by 2.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 169,384 shares of the technology company’s stock after selling 4,092 shares during the quarter. Royce & Associates LP owned about 0.47% of Fabrinet worth $40,049,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings 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 during the period. Bank of New York Mellon Corp increased its holdings in Fabrinet by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company’s stock valued at $77,027,000 after buying an additional 12,409 shares during the period. Epoch Investment Partners Inc. increased its holdings in Fabrinet by 9.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company’s stock valued at $73,928,000 after buying an additional 26,475 shares during the period. Westfield Capital Management Co. LP increased its holdings in Fabrinet by 13.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 300,421 shares of the technology company’s stock valued at $56,786,000 after buying an additional 35,529 shares during the period. Finally, Driehaus Capital Management LLC grew its holdings in shares of Fabrinet by 183.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock valued at $68,046,000 after purchasing an additional 179,943 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Price Performance

FN opened at $252.02 on Friday. Fabrinet has a fifty-two week low of $159.30 and a fifty-two week high of $278.38. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 29.82 and a beta of 0.95. The company’s 50 day moving average price is $241.33 and its two-hundred day moving average price is $235.06.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. The firm had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.78 EPS. As a group, equities research analysts predict that Fabrinet will post 9.1 EPS for the current year.

Insider Transactions at Fabrinet

In related news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the transaction, the chief financial officer now owns 19,768 shares in the company, valued at $5,338,941.44. The trade was a 31.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the transaction, the chief executive officer now owns 37,643 shares in the company, valued at $10,163,610. The trade was a 41.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,728 shares of company stock worth $11,645,062. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FN shares. Barclays started coverage on shares of Fabrinet in a report on Thursday. They set an “equal weight” rating and a $292.00 price target on the stock. Needham & Company LLC started coverage on shares of Fabrinet in a report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target on the stock. Rosenblatt Securities lifted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. B. Riley decreased their price target on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and an average target price of $254.43.

Fabrinet Company 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.