Veriti Management LLC reduced its position in Fabrinet (NYSE:FN – Get Rating) by 3.4% during the first quarter, HoldingsChannel reports. The company held 5,436 shares of the technology company after selling 190 shares during the period. Veriti Management LLC’s holdings in Fabrinet were worth $571,000 at the end of the last quarter.
Several other large investors have also recently bought and sold shares of FN. Marshall Wace LLP purchased a new equity stake in Fabrinet in Q3 for $728,000. Millennium Management LLC increased its holding in Fabrinet shares by 135.7% in the 3rd quarter. Millennium Management LLC now owns 46,312 shares of the technology company valued at $4,747,000 after purchasing an additional 26,667 shares in the last quarter. Wellington Management Group LLP increased its holding in Fabrinet shares by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 210,544 shares of the technology company valued at $21,583,000 after purchasing an additional 71,055 shares in the last quarter. Voloridge Investment Management LLC increased its holding in Fabrinet shares by 57.7% in the 3rd quarter. Voloridge Investment Management LLC now owns 16,227 shares of the technology company valued at $1,663,000 after buying 5,937 additional shares in the last quarter. Finally, Janus Henderson Group PLC increased its holding in Fabrinet shares by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 642,976 shares of the technology company valued at $65,912,000 after buying an additional 4,446 shares in the last quarter. 95.89% of the shares are currently held by institutional investors.
A number of equity research analysts have recently commented on the stock. StockNews.com upgraded Fabrinet’s shares from a “hold” rating to a “buy” rating in a research note on Monday, May 30. B. Riley lowered his price target on Fabrinet shares from $100.00 to $96.00 in a Tuesday, May 3 research report. Finally, Loop Capital took over coverage of Fabrinet shares in a Monday, April 25 research report. They set a “buy” rating and a target price of $129.00 on the stock. Four research analysts gave the stock a hold rating and five gave the stock a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.43.
FN opened at $83.21 on Friday. The company has a current ratio of 2.92, a quick ratio of 2.02 and a debt ratio of 0.01. The company’s fifty-day moving average price is $88.10 and its two-hundred-day moving average price is $100.67. Fabrinet has a 1-year low of $74.57 and a 1-year high of $126.28. The company has a market capitalization of $3.06 billion, a price-earnings ratio of 16.71 and a beta of 0.93.
Fabrinet (NYSE:FN – Get Rating) last released its quarterly earnings data on Monday, May 2. The tech company reported earnings per share of $1.35 for the quarter, hitting the consensus estimate of $1.35. The company posted revenue of $564.40 million for the quarter, versus a consensus estimate of $575.72 million. Fabrinet achieved a net margin of 8.54% and a return on equity of 16.00%. In the same quarter a year earlier, the company posted earnings per share of $1.03. As a group, stock analysts expect Fabrinet to post earnings per share of 5.29 for the current fiscal year.
Profile Fabrinet (Get an assessment)
Fabrinet provides optical packaging and optical, electromechanical and precision electronics manufacturing services in North America, Asia-Pacific and Europe. The company offers a range of advanced optical and electromechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, l advanced packaging, integration, final assembly and testing.
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