Baillie Gifford & Co. Has $201.69 Million Stock Position in Fabrinet $FN

Baillie Gifford & Co. reduced its stake in Fabrinet (NYSE:FN) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 553,158 shares of the technology company’s stock after selling 36,013 shares during the period. Baillie Gifford & Co. owned approximately 1.54% of Fabrinet worth $201,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FN. Maseco LLP acquired a new position in Fabrinet during the second quarter worth $25,000. Root Financial Partners LLC bought a new stake in shares of Fabrinet in the 3rd quarter worth about $34,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Fabrinet during the 2nd quarter worth about $35,000. First Horizon Advisors Inc. lifted its holdings in Fabrinet by 124.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock valued at $41,000 after purchasing an additional 77 shares during the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in Fabrinet by 118.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 142 shares of the technology company’s stock valued at $42,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Down 0.7%

Shares of FN opened at $467.33 on Friday. Fabrinet has a 12-month low of $148.55 and a 12-month high of $531.22. The firm has a market capitalization of $16.74 billion, a PE ratio of 48.13 and a beta of 1.04. The stock’s fifty day simple moving average is $462.91 and its 200-day simple moving average is $396.33.

Insider Activity at Fabrinet

In other news, CEO Seamus Grady sold 22,451 shares of the stock in a transaction 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 transaction, the chief executive officer owned 23,573 shares of the company’s stock, valued at $10,535,952.35. This represents a 48.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas F. Kelly sold 2,200 shares of the firm’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $464.14, for a total value of $1,021,108.00. Following the completion of the transaction, the director owned 18,789 shares in the company, valued at $8,720,726.46. This represents a 10.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,151 shares of company stock worth $12,643,707 over the last ninety days. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.