Analog Century Management LP Has $94.83 Million Position in Fabrinet $FN

Analog Century Management LP lowered its stake in shares of Fabrinet (NYSE:FN) by 2.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 321,814 shares of the technology company’s stock after selling 6,911 shares during the period. Fabrinet accounts for about 5.6% of Analog Century Management LP’s investment portfolio, making the stock its 5th biggest holding. Analog Century Management LP owned approximately 0.90% of Fabrinet worth $94,832,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FN. Coldstream Capital Management Inc. boosted its position in Fabrinet by 3.2% during the second quarter. Coldstream Capital Management Inc. now owns 998 shares of the technology company’s stock valued at $294,000 after purchasing an additional 31 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Fabrinet by 10.9% in the 2nd quarter. IFP Advisors Inc now owns 347 shares of the technology company’s stock valued at $103,000 after buying an additional 34 shares in the last quarter. SBI Securities Co. Ltd. boosted its holdings in shares of Fabrinet by 21.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 219 shares of the technology company’s stock valued at $65,000 after buying an additional 39 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of Fabrinet by 33.6% in the 2nd quarter. Bessemer Group Inc. now owns 171 shares of the technology company’s stock valued at $50,000 after buying an additional 43 shares in the last quarter. Finally, F m Investments LLC grew its position in shares of Fabrinet by 0.3% in the 2nd quarter. F m Investments LLC now owns 14,168 shares of the technology company’s stock worth $4,175,000 after buying an additional 46 shares during the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Trading Up 3.8%

Shares of NYSE:FN opened at $517.30 on Thursday. The company’s 50 day moving average is $426.35 and its 200 day moving average is $349.57. Fabrinet has a twelve month low of $148.55 and a twelve month high of $527.00. The company has a market cap of $18.53 billion, a PE ratio of 53.27 and a beta of 1.05.

Insider Buying and Selling

In related news, Director Thomas F. Kelly sold 2,200 shares of Fabrinet stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $464.14, for a total transaction of $1,021,108.00. Following the completion of the transaction, the director directly owned 18,789 shares in the company, valued at approximately $8,720,726.46. This trade represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Seamus Grady sold 22,451 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $446.95, for a total value of $10,034,474.45. Following the completion of the sale, the chief executive officer owned 23,573 shares in the company, valued at approximately $10,535,952.35. This represents a 48.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,151 shares of company stock valued at $12,643,707 over the last ninety days. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on FN. Needham & Company LLC increased their target price on shares of Fabrinet from $440.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Northland Securities set a $550.00 price objective on Fabrinet in a report on Tuesday, November 4th. JPMorgan Chase & Co. raised their price objective on Fabrinet from $430.00 to $530.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Barclays boosted their target price on Fabrinet from $329.00 to $499.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 5th. Finally, Zacks Research upgraded Fabrinet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 23rd. One 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $451.29.

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 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.