Veriti Management LLC sells 190 shares of Fabrinet (NYSE:FN)


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.

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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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Institutional ownership by quarter for Fabrinet (NYSE:FN)



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