Paradiem LLC Reduces Stock Position in Fabrinet (NYSE:FN)

Paradiem LLC decreased its stake in Fabrinet (NYSE:FN) by 32.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,367 shares of the technology company’s stock after selling 9,163 shares during the quarter. Paradiem LLC’s holdings in Fabrinet were worth $3,686,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Park Place Capital Corp purchased a new stake in shares of Fabrinet in the fourth quarter worth about $26,000. Salem Investment Counselors Inc. purchased a new stake in shares of Fabrinet in the fourth quarter worth about $29,000. GAMMA Investing LLC purchased a new stake in shares of Fabrinet in the fourth quarter worth about $34,000. Orion Capital Management LLC acquired a new position in Fabrinet in the 3rd quarter worth about $47,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Fabrinet in the 4th quarter worth about $52,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

FN has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Needham & Company LLC reduced their target price on Fabrinet from $230.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and increased their target price for the company from $200.00 to $220.00 in a report on Thursday, March 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $230.00 price target on shares of Fabrinet in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $159.57.

Fabrinet Trading Up 1.9 %

Fabrinet stock traded up $3.25 during mid-day trading on Friday, hitting $175.45. The company’s stock had a trading volume of 218,112 shares, compared to its average volume of 417,698. The firm has a market capitalization of $6.37 billion, a PE ratio of 25.35 and a beta of 1.04. Fabrinet has a 1 year low of $90.19 and a 1 year high of $229.02. The stock’s fifty day moving average is $191.71 and its two-hundred day moving average is $185.19.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.84 by $0.05. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. The business had revenue of $712.69 million during the quarter, compared to analyst estimates of $699.76 million. On average, equities analysts expect that Fabrinet will post 7.59 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the transaction, the director now directly owns 25,981 shares in the company, valued at $5,339,615.12. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company 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.