Vanguard Personalized Indexing Management LLC Reduces Holdings in Fabrinet (NYSE:FN)

Vanguard Personalized Indexing Management LLC reduced its stake in shares of Fabrinet (NYSE:FN) by 7.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,907 shares of the technology company’s stock after selling 497 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Fabrinet were worth $1,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FN. Parallel Advisors LLC lifted its position in shares of Fabrinet by 59.7% in the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after acquiring an additional 77 shares in the last quarter. New York State Teachers Retirement System increased its position in Fabrinet by 0.3% during the 1st quarter. New York State Teachers Retirement System now owns 29,950 shares of the technology company’s stock worth $5,661,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC raised its stake in Fabrinet by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after purchasing an additional 109 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Fabrinet by 1.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,780 shares of the technology company’s stock valued at $1,904,000 after purchasing an additional 114 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet during the 2nd quarter worth about $28,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

Shares of NYSE:FN opened at $231.56 on Monday. The firm has a market capitalization of $8.37 billion, a PE ratio of 30.75 and a beta of 0.96. Fabrinet has a 12 month low of $149.19 and a 12 month high of $278.38. The business has a 50-day moving average of $229.29 and a two-hundred day moving average of $219.21.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. The firm had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.68 EPS. As a group, research analysts anticipate that Fabrinet will post 9.11 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on FN. B. Riley lifted their target price on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Rosenblatt Securities lifted their price objective on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Jefferies Financial Group began coverage on Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 target price on the stock. Needham & Company LLC lifted their price target on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Fabrinet presently has a consensus rating of “Hold” and a consensus target price of $219.00.

Insider Activity

In related news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the sale, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the transaction, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at $10,163,610. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,728 shares of company stock valued at $11,645,062. Company insiders own 0.51% of the company’s stock.

Fabrinet 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 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.