Vaughan Nelson Investment Management L.P. Lowers Stock Holdings in Fabrinet (NYSE:FN)

Vaughan Nelson Investment Management L.P. lowered its position in Fabrinet (NYSE:FN) by 18.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 227,305 shares of the technology company’s stock after selling 52,530 shares during the period. Vaughan Nelson Investment Management L.P. owned about 0.63% of Fabrinet worth $53,744,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FN. Huntington National Bank grew its holdings in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares in the last quarter. KBC Group NV boosted its position in shares of Fabrinet by 12.2% during the third quarter. KBC Group NV now owns 1,022 shares of the technology company’s stock worth $242,000 after acquiring an additional 111 shares during the last quarter. Aigen Investment Management LP purchased a new position in Fabrinet during the third quarter valued at $442,000. WCM Investment Management LLC grew its stake in Fabrinet by 31.2% during the third quarter. WCM Investment Management LLC now owns 51,723 shares of the technology company’s stock valued at $12,402,000 after acquiring an additional 12,289 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV bought a new stake in Fabrinet in the 3rd quarter valued at $679,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Insider Activity

In related news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of 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 through this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. The trade was a 51.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,728 shares of company stock valued at $11,645,062. 0.38% of the stock is currently owned by insiders.

Analyst Ratings Changes

FN has been the subject of several research reports. Rosenblatt Securities increased their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. increased their price target on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Barclays began coverage on Fabrinet in a research note on Thursday. They issued an “equal weight” rating and a $292.00 price objective on the stock. B. Riley cut their target price on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating for the company in a report on Tuesday, November 5th. Finally, Needham & Company LLC began coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $254.43.

Fabrinet Stock Performance

Shares of Fabrinet stock opened at $234.85 on Friday. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 27.79 and a beta of 0.95. The stock has a 50 day moving average price of $242.35 and a 200-day moving average price of $235.59. Fabrinet has a one year low of $159.30 and a one year high of $278.38.

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

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.