Fabrinet (NYSE:FN) Stock Holdings Reduced by Henry James International Management Inc.

Henry James International Management Inc. cut its position in shares of Fabrinet (NYSE:FN) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,175 shares of the technology company’s stock after selling 233 shares during the period. Henry James International Management Inc.’s holdings in Fabrinet were worth $1,937,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FN. Park Place Capital Corp acquired a new stake in shares of Fabrinet in the 4th quarter valued at $26,000. Salem Investment Counselors Inc. bought a new position in Fabrinet during the fourth quarter valued at about $29,000. GAMMA Investing LLC acquired a new stake in shares of Fabrinet in the fourth quarter worth about $34,000. Orion Capital Management LLC bought a new stake in shares of Fabrinet during the 3rd quarter worth about $47,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in shares of Fabrinet during the 4th quarter valued at about $52,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Price Performance

Shares of Fabrinet stock traded up $5.03 during midday trading on Friday, hitting $179.22. The company had a trading volume of 599,682 shares, compared to its average volume of 432,498. Fabrinet has a 1-year low of $90.19 and a 1-year high of $229.02. The business’s 50 day simple moving average is $189.84 and its two-hundred day simple moving average is $185.13. The stock has a market cap of $6.51 billion, a PE ratio of 25.90 and a beta of 1.04.

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

Insider Activity at Fabrinet

In other news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 accessible through the SEC website. Corporate insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.