Capital Fund Management S.A. Trims Stock Position in Fabrinet $FN

Capital Fund Management S.A. cut its holdings in Fabrinet (NYSE:FN) by 56.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,039 shares of the technology company’s stock after selling 50,387 shares during the period. Capital Fund Management S.A. owned 0.11% of Fabrinet worth $11,504,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Maseco LLP acquired a new position in shares of Fabrinet in the 2nd quarter valued at $25,000. Banque Cantonale Vaudoise purchased a new stake in Fabrinet in the 1st quarter valued at about $29,000. Elevation Point Wealth Partners LLC acquired a new position in Fabrinet in the second quarter valued at about $35,000. First Horizon Advisors Inc. lifted its position in Fabrinet by 124.2% in the second quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock valued at $41,000 after buying an additional 77 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in Fabrinet by 118.5% during the second quarter. Cullen Frost Bankers Inc. now owns 142 shares of the technology company’s stock worth $42,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Activity

In other news, EVP Edward T. Archer sold 3,333 shares of Fabrinet stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $354.48, for a total value of $1,181,481.84. Following the completion of the transaction, the executive vice president owned 6,644 shares in the company, valued at approximately $2,355,165.12. This trade represents a 33.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Harpal Gill sold 14,203 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $355.15, for a total transaction of $5,044,195.45. Following the sale, the chief operating officer owned 13,983 shares in the company, valued at $4,966,062.45. The trade was a 50.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.24% of the company’s stock.

Fabrinet Trading Up 2.3%

NYSE:FN opened at $459.41 on Friday. The firm has a market cap of $16.46 billion, a PE ratio of 47.31 and a beta of 1.05. The stock has a fifty day moving average price of $409.63 and a 200 day moving average price of $335.78. Fabrinet has a 12-month low of $148.55 and a 12-month high of $498.00.

Analyst Ratings Changes

Several equities analysts have recently commented on FN shares. B. Riley upped their price objective on shares of Fabrinet from $184.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, August 19th. Weiss Ratings reissued a “buy (b)” rating on shares of Fabrinet in a research report on Wednesday. Barclays raised their price target on Fabrinet from $329.00 to $499.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $430.00 to $530.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Finally, Rosenblatt Securities increased their target price on Fabrinet from $425.00 to $550.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Fabrinet has a consensus rating of “Moderate Buy” and an average target price of $451.29.

About Fabrinet

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.