State of Alaska Department of Revenue Sells 226 Shares of Fabrinet (NYSE:FN)

State of Alaska Department of Revenue lowered its stake in shares of Fabrinet (NYSE:FNFree Report) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 22,375 shares of the technology company’s stock after selling 226 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Fabrinet worth $4,258,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. grew its position in Fabrinet by 56.8% in the 4th quarter. Blue Trust Inc. now owns 1,019 shares of the technology company’s stock valued at $194,000 after acquiring an additional 369 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Fabrinet in the 4th quarter valued at $52,000. Portside Wealth Group LLC bought a new position in Fabrinet in the 4th quarter valued at $274,000. Salem Investment Counselors Inc. bought a new position in Fabrinet in the 4th quarter valued at $29,000. Finally, Baker Tilly Wealth Management LLC bought a new position in Fabrinet in the 4th quarter valued at $306,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 1.7 %

Shares of FN stock opened at $185.57 on Wednesday. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 26.82 and a beta of 1.04. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02. The stock has a fifty day simple moving average of $202.81 and a two-hundred day simple moving average of $183.78.

Fabrinet (NYSE:FNGet Free Report) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. The firm had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. Research analysts predict that Fabrinet will post 7.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Rollance E. Olson sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.51% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FN has been the topic of several research analyst reports. JPMorgan Chase & Co. downgraded Fabrinet from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $185.00 to $210.00 in a research report on Monday, January 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $230.00 target price on shares of Fabrinet in a report on Tuesday, February 6th. Needham & Company LLC lowered their target price on Fabrinet from $230.00 to $220.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Finally, Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.29.

View Our Latest Stock Analysis on FN

About Fabrinet

(Free Report)

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.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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