Moody Aldrich Partners LLC Sells 7,977 Shares of Fabrinet $FN

Moody Aldrich Partners LLC reduced its stake in Fabrinet (NYSE:FN) by 54.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,707 shares of the technology company’s stock after selling 7,977 shares during the period. Moody Aldrich Partners LLC’s holdings in Fabrinet were worth $2,446,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its holdings in Fabrinet by 0.3% in the 2nd quarter. Nordea Investment Management AB now owns 43,411 shares of the technology company’s stock worth $12,845,000 after purchasing an additional 132 shares in the last quarter. Argent Capital Management LLC bought a new stake in shares of Fabrinet during the third quarter worth about $4,931,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Fabrinet by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 424,741 shares of the technology company’s stock worth $125,163,000 after purchasing an additional 4,043 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Fabrinet in the second quarter valued at approximately $26,243,000. Finally, Polar Asset Management Partners Inc. raised its holdings in Fabrinet by 94.4% in the 1st quarter. Polar Asset Management Partners Inc. now owns 29,750 shares of the technology company’s stock valued at $5,876,000 after buying an additional 14,450 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Fabrinet in a report on Monday. Northland Securities set a $600.00 price target on shares of Fabrinet in a report on Monday, December 22nd. Rosenblatt Securities increased their price objective on Fabrinet from $425.00 to $550.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Zacks Research raised Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. upped their price target on Fabrinet from $430.00 to $530.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Fabrinet has a consensus rating of “Moderate Buy” and an average target price of $469.88.

Fabrinet Stock Down 1.6%

Shares of NYSE FN opened at $454.43 on Thursday. The company has a market capitalization of $16.28 billion, a PE ratio of 46.80 and a beta of 1.05. Fabrinet has a twelve month low of $148.55 and a twelve month high of $531.22. The firm has a fifty day simple moving average of $451.80 and a 200 day simple moving average of $374.16.

Insider Activity

In other news, Director Homa Bahrami sold 3,500 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $453.75, for a total value of $1,588,125.00. Following the transaction, the director directly owned 18,316 shares of the company’s stock, valued at $8,310,885. The trade was a 16.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas F. Kelly sold 2,200 shares of the company’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $464.14, for a total value of $1,021,108.00. Following the sale, the director owned 18,789 shares in the company, valued at approximately $8,720,726.46. The trade was a 10.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,151 shares of company stock valued at $12,643,707 in the last ninety days. 0.24% of the stock is owned by company insiders.

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.