Commonwealth Equity Services LLC Has $342,000 Stock Holdings in Fabrinet (NYSE:FN)

Commonwealth Equity Services LLC trimmed its stake in Fabrinet (NYSE:FN) by 4.1% in the third quarter, Holdings Channel reports. The firm owned 3,343 shares of the technology company’s stock after selling 142 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Fabrinet were worth $342,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Fabrinet by 0.7% in the second quarter. Vanguard Group Inc. now owns 4,049,003 shares of the technology company’s stock valued at $388,177,000 after purchasing an additional 30,036 shares in the last quarter. Wasatch Advisors Inc. grew its stake in Fabrinet by 3.5% in the second quarter. Wasatch Advisors Inc. now owns 3,250,526 shares of the technology company’s stock valued at $311,628,000 after purchasing an additional 110,993 shares in the last quarter. State Street Corp boosted its stake in shares of Fabrinet by 2.3% during the 2nd quarter. State Street Corp now owns 1,173,273 shares of the technology company’s stock worth $112,482,000 after acquiring an additional 26,921 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Fabrinet by 8.9% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,027,809 shares of the technology company’s stock worth $98,536,000 after acquiring an additional 84,218 shares during the period. Finally, Capital International Investors boosted its stake in shares of Fabrinet by 29.8% during the 2nd quarter. Capital International Investors now owns 735,031 shares of the technology company’s stock worth $70,467,000 after acquiring an additional 168,806 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

FN opened at $118.10 on Friday. The company has a market capitalization of $4.37 billion, a PE ratio of 27.66 and a beta of 0.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.90 and a quick ratio of 1.93. The business has a fifty day simple moving average of $117.50 and a 200 day simple moving average of $105.34. Fabrinet has a 1 year low of $77.30 and a 1 year high of $126.28.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Sunday, October 31st. The technology company reported $1.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.12. The firm had revenue of $543.32 million during the quarter, compared to analysts’ expectations of $522.60 million. Fabrinet had a return on equity of 14.80% and a net margin of 8.05%. The company’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.92 EPS. Equities analysts anticipate that Fabrinet will post 5.07 earnings per share for the current fiscal year.

In other news, Director Thomas F. Kelly sold 900 shares of the business’s stock in a transaction on Friday, December 3rd. The stock was sold at an average price of $115.66, for a total transaction of $104,094.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Harpal Gill sold 1,000 shares of the business’s stock in a transaction on Thursday, November 4th. The stock was sold at an average price of $118.09, for a total value of $118,090.00. The disclosure for this sale can be found here. 0.42% of the stock is owned by insiders.

FN has been the subject of several research analyst reports. Needham & Company LLC lifted their target price on Fabrinet from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, November 2nd. Northland Securities lifted their target price on Fabrinet from $112.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, November 19th. Zacks Investment Research downgraded Fabrinet from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th. JPMorgan Chase & Co. lifted their target price on Fabrinet from $112.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 2nd. Finally, B. Riley lifted their target price on Fabrinet from $85.00 to $96.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 2nd. They noted that the move was a valuation call. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.67.

Fabrinet Company Profile

Fabrinet engages in the provision of optical packaging and electronic manufacturing services to original equipment manufacturers. The firm’s engineering services include process design, failure analysis, reliability testing, tooling design, and real-time traceability system. Its manufacturing operations offer sensors, subsystems, customized optics, and optical modules and components.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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