Fabrinet $FN Stock Position Lowered by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust lowered its position in shares of Fabrinet (NYSE:FN) by 23.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,816 shares of the technology company’s stock after selling 20,167 shares during the quarter. Fabrinet accounts for approximately 1.2% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 22nd largest position. Emerald Mutual Fund Advisers Trust owned approximately 0.18% of Fabrinet worth $23,998,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FN. Wasatch Advisors LP boosted its position in shares of Fabrinet by 45.1% during the 2nd quarter. Wasatch Advisors LP now owns 1,779,665 shares of the technology company’s stock valued at $524,432,000 after purchasing an additional 553,196 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Fabrinet by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,051,108 shares of the technology company’s stock worth $309,771,000 after purchasing an additional 5,114 shares in the last quarter. Westfield Capital Management Co. LP lifted its stake in Fabrinet by 102.8% during the second quarter. Westfield Capital Management Co. LP now owns 663,310 shares of the technology company’s stock valued at $195,464,000 after purchasing an additional 336,173 shares during the last quarter. TD Asset Management Inc boosted its holdings in Fabrinet by 25.4% during the second quarter. TD Asset Management Inc now owns 599,337 shares of the technology company’s stock worth $176,613,000 after buying an additional 121,233 shares in the last quarter. Finally, Epoch Investment Partners Inc. grew its position in Fabrinet by 34.1% in the second quarter. Epoch Investment Partners Inc. now owns 522,027 shares of the technology company’s stock worth $153,831,000 after buying an additional 132,780 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on FN. Rosenblatt Securities increased their price objective on Fabrinet from $425.00 to $550.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Needham & Company LLC boosted their target price on Fabrinet from $440.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Susquehanna increased their price target on Fabrinet from $550.00 to $570.00 and gave the company a “positive” rating in a research report on Thursday. Northland Securities set a $600.00 price target on Fabrinet in a research note on Monday, December 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $430.00 to $530.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $477.13.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Homa Bahrami sold 3,500 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $453.75, for a total value of $1,588,125.00. Following the completion of the sale, the director owned 18,316 shares in the company, valued at $8,310,885. This represents a 16.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Seamus Grady sold 22,451 shares of Fabrinet stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $446.95, for a total transaction of $10,034,474.45. Following the sale, the chief executive officer directly owned 23,573 shares of the company’s stock, valued at $10,535,952.35. This trade represents a 48.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 28,151 shares of company stock valued at $12,643,707 over the last three months. 0.24% of the stock is owned by corporate insiders.

Fabrinet Trading Down 4.0%

Shares of Fabrinet stock opened at $468.77 on Friday. Fabrinet has a 1 year low of $148.55 and a 1 year high of $531.22. The company has a market cap of $16.80 billion, a P/E ratio of 48.28 and a beta of 1.04. The stock has a 50-day moving average price of $461.81 and a 200 day moving average price of $395.07.

About Fabrinet

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.