Fabrinet (NYSE:FN) Shares Sold by Virtu Financial LLC

Virtu Financial LLC cut its position in shares of Fabrinet (NYSE:FN) by 14.6% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,752 shares of the technology company’s stock after selling 1,324 shares during the period. Virtu Financial LLC’s holdings in Fabrinet were worth $1,465,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FN. First Eagle Investment Management LLC increased its position in Fabrinet by 0.8% during the fourth quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock worth $1,429,000 after buying an additional 60 shares in the last quarter. Campbell Newman Asset Management Inc. increased its position in Fabrinet by 0.4% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock worth $3,406,000 after buying an additional 64 shares in the last quarter. Parallel Advisors LLC increased its position in Fabrinet by 59.7% during the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after buying an additional 77 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of Fabrinet by 1.6% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 6,117 shares of the technology company’s stock valued at $1,164,000 after purchasing an additional 96 shares during the period. Finally, New York State Teachers Retirement System grew its position in shares of Fabrinet by 0.3% in the first quarter. New York State Teachers Retirement System now owns 29,950 shares of the technology company’s stock valued at $5,661,000 after purchasing an additional 100 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 5,709 shares of the company’s stock, valued at approximately $1,379,922.39. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.51% of the company’s stock.

Fabrinet Stock Down 5.7 %

Shares of NYSE:FN traded down $12.31 during trading on Friday, hitting $202.66. 517,432 shares of the company traded hands, compared to its average volume of 438,065. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of 26.91 and a beta of 0.96. The business’s fifty day moving average is $239.96 and its 200-day moving average is $213.08. Fabrinet has a one year low of $114.83 and a one year high of $266.39.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on FN. B. Riley lowered their price objective on Fabrinet from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Tuesday, May 7th. Jefferies Financial Group began coverage on Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $220.00 price target on shares of Fabrinet in a research report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $168.67.

Fabrinet 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.