Fabrinet (NYSE:FN) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. trimmed its position in shares of Fabrinet (NYSE:FN) by 7.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 522,629 shares of the technology company’s stock after selling 41,176 shares during the period. Baillie Gifford & Co. owned approximately 1.44% of Fabrinet worth $98,787,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FN. Mariner LLC boosted its position in Fabrinet by 2.1% in the 3rd quarter. Mariner LLC now owns 4,103 shares of the technology company’s stock valued at $684,000 after buying an additional 85 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Fabrinet by 5.7% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 2,464 shares of the technology company’s stock worth $411,000 after purchasing an additional 132 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in Fabrinet by 157.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 32,807 shares of the technology company’s stock worth $5,466,000 after purchasing an additional 20,087 shares in the last quarter. Gotham Asset Management LLC increased its holdings in Fabrinet by 161.9% during the 3rd quarter. Gotham Asset Management LLC now owns 5,238 shares of the technology company’s stock worth $873,000 after purchasing an additional 3,238 shares during the period. Finally, Lazard Asset Management LLC raised its position in Fabrinet by 172.7% in the 3rd quarter. Lazard Asset Management LLC now owns 3,968 shares of the technology company’s stock valued at $660,000 after purchasing an additional 2,513 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Trading Down 0.7 %

FN stock traded down $1.63 on Friday, hitting $239.33. The company’s stock had a trading volume of 311,986 shares, compared to its average volume of 368,978. The stock has a market cap of $8.65 billion, a price-to-earnings ratio of 31.77 and a beta of 0.96. The firm has a 50 day moving average of $230.67 and a two-hundred day moving average of $207.00. Fabrinet has a 1 year low of $114.83 and a 1 year high of $257.04.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, May 6th. The technology company reported $2.21 EPS for the quarter, beating 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 business had revenue of $731.54 million during the quarter, compared to analysts’ expectations of $718.94 million. As a group, equities analysts forecast that Fabrinet will post 7.95 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on FN. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price target on shares of Fabrinet in a report on Tuesday, May 7th. Jefferies Financial Group started coverage on Fabrinet in a report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 target price on the stock. JPMorgan Chase & Co. upped their price objective on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $200.00 to $220.00 in a research report on Thursday, March 21st. Finally, B. Riley lowered their price target on 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 given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $168.67.

Insider Activity

In related news, Director Frank H. Levinson sold 6,000 shares of Fabrinet stock in a transaction on 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 transaction, the director now directly owns 5,709 shares in the company, valued at approximately $1,379,922.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.51% of the company’s stock.

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.