Cwm LLC Sells 48 Shares of Fabrinet (NYSE:FN)

Cwm LLC lowered its position in Fabrinet (NYSE:FN) by 17.5% during the 4th quarter, HoldingsChannel reports. The fund owned 226 shares of the technology company’s stock after selling 48 shares during the period. Cwm LLC’s holdings in Fabrinet were worth $43,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in FN. Baillie Gifford & Co. raised its position in Fabrinet by 190.0% in the 4th quarter. Baillie Gifford & Co. now owns 563,805 shares of the technology company’s stock worth $107,309,000 after purchasing an additional 369,389 shares during the period. FMR LLC increased its holdings in Fabrinet by 9.7% during the third quarter. FMR LLC now owns 1,987,726 shares of the technology company’s stock valued at $331,195,000 after buying an additional 174,945 shares during the period. Wellington Management Group LLP raised its position in shares of Fabrinet by 21.3% in the 3rd quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock worth $150,709,000 after acquiring an additional 159,037 shares in the last quarter. Invesco Ltd. raised its holdings in Fabrinet by 55.5% in the third quarter. Invesco Ltd. now owns 306,840 shares of the technology company’s stock worth $51,126,000 after purchasing an additional 109,469 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Fabrinet by 159.3% during the third quarter. American Century Companies Inc. now owns 157,964 shares of the technology company’s stock valued at $26,320,000 after acquiring an additional 97,052 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

FN stock opened at $218.01 on Friday. The company has a market capitalization of $7.92 billion, a P/E ratio of 31.50 and a beta of 1.04. Fabrinet has a 12 month low of $90.19 and a 12 month high of $229.02. The firm’s fifty day simple moving average is $189.96 and its 200-day simple moving average is $186.17.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.84 by $0.05. The company had revenue of $712.69 million for the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. As a group, sell-side analysts forecast that Fabrinet will post 7.59 earnings per share for the current year.

Insider Activity

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $205.52, for a total value of $2,055,200.00. Following the sale, the director now owns 25,981 shares in the company, valued at approximately $5,339,615.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.51% of the company’s stock.

Analyst Ratings Changes

FN has been the topic of several research analyst reports. Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st. JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a report on Thursday, April 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $230.00 target price on shares of Fabrinet in a research note on Tuesday, February 6th. B. Riley cut their price target on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Fabrinet in a research note on Tuesday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.00.

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.