Dupont Capital Management Corp lifted its position in shares of Fabrinet (NYSE:FN) by 81.1% in the fourth quarter, Holdings Channel reports. The fund owned 14,853 shares of the technology company’s stock after buying an additional 6,651 shares during the period. Dupont Capital Management Corp’s holdings in Fabrinet were worth $762,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Fabrinet by 4.3% in the third quarter. BlackRock Inc. now owns 5,227,542 shares of the technology company’s stock valued at $241,826,000 after purchasing an additional 215,696 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Fabrinet by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 3,050,767 shares of the technology company’s stock valued at $141,129,000 after purchasing an additional 119,326 shares during the last quarter. Vanguard Group Inc. increased its holdings in Fabrinet by 1.6% in the third quarter. Vanguard Group Inc. now owns 2,183,069 shares of the technology company’s stock valued at $100,988,000 after purchasing an additional 33,413 shares during the last quarter. Vanguard Group Inc increased its holdings in Fabrinet by 1.6% in the third quarter. Vanguard Group Inc now owns 2,183,069 shares of the technology company’s stock valued at $100,988,000 after purchasing an additional 33,413 shares during the last quarter. Finally, Frontier Capital Management Co. LLC increased its holdings in Fabrinet by 8.1% in the third quarter. Frontier Capital Management Co. LLC now owns 1,597,382 shares of the technology company’s stock valued at $73,895,000 after purchasing an additional 119,906 shares during the last quarter. Institutional investors and hedge funds own 93.49% of the company’s stock.
FN stock opened at $53.56 on Thursday. The company has a quick ratio of 2.26, a current ratio of 3.19 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.99 billion, a PE ratio of 17.97, a PEG ratio of 1.22 and a beta of 0.61. Fabrinet has a fifty-two week low of $27.63 and a fifty-two week high of $58.24.
Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, February 4th. The technology company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. The company had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $386.22 million. Fabrinet had a return on equity of 14.91% and a net margin of 7.08%. Fabrinet’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, equities research analysts anticipate that Fabrinet will post 3.24 EPS for the current fiscal year.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Fabrinet from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Thursday, January 24th. Piper Jaffray Companies upgraded Fabrinet to an “overweight” rating and set a $56.00 price target for the company in a report on Tuesday, November 6th. Stifel Nicolaus assumed coverage on Fabrinet in a report on Monday, October 22nd. They issued a “buy” rating and a $53.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $62.00 price target (up from $58.00) on shares of Fabrinet in a report on Tuesday, December 18th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $53.17.
In other news, Director David T. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $52.49, for a total transaction of $1,574,700.00. Following the completion of the transaction, the director now directly owns 73,748 shares of the company’s stock, valued at $3,871,032.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Harpal Gill sold 33,479 shares of the company’s stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $52.00, for a total value of $1,740,908.00. Following the transaction, the chief operating officer now directly owns 51,860 shares of the company’s stock, valued at $2,696,720. The disclosure for this sale can be found here. Insiders have sold 93,479 shares of company stock valued at $4,896,608 over the last ninety days. 1.90% of the stock is owned by insiders.
Fabrinet Company 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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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