Maryland State Retirement & Pension System cut its stake in shares of Fabrinet (NYSE:FN – Free Report) by 1.2% in the 4th quarter, HoldingsChannel reports. The fund owned 13,204 shares of the technology company’s stock after selling 165 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Fabrinet were worth $2,513,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of FN. Park Place Capital Corp bought a new position in Fabrinet in the fourth quarter worth $26,000. Salem Investment Counselors Inc. purchased a new stake in shares of Fabrinet during the 4th quarter valued at about $29,000. GAMMA Investing LLC bought a new stake in shares of Fabrinet during the 4th quarter valued at $34,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Fabrinet in the fourth quarter worth about $52,000. Finally, Orion Capital Management LLC purchased a new position in Fabrinet during the third quarter valued at approximately $47,000. 97.38% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Fabrinet
In related news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the sale, the director now directly owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.51% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on FN
Fabrinet Trading Down 2.3 %
Shares of Fabrinet stock traded down $4.90 during trading hours on Wednesday, hitting $204.41. 95,306 shares of the company were exchanged, compared to its average volume of 457,701. The stock has a market capitalization of $7.42 billion, a price-to-earnings ratio of 30.24 and a beta of 1.04. Fabrinet has a 1 year low of $90.19 and a 1 year high of $229.02. The business has a 50-day moving average of $189.76 and a 200-day moving average of $185.77.
Fabrinet (NYSE:FN – Get Free Report) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. The business had revenue of $712.69 million during the quarter, compared to analysts’ expectations of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. As a group, research analysts anticipate that Fabrinet will post 7.59 earnings per share for the current fiscal year.
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.
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