Wasatch Advisors LP Decreases Holdings in Fabrinet $FN

Wasatch Advisors LP trimmed its holdings in Fabrinet (NYSE:FN) by 65.5% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 242,889 shares of the technology company’s stock after selling 460,251 shares during the quarter. Wasatch Advisors LP’s holdings in Fabrinet were worth $136,523,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FN. Price T Rowe Associates Inc. MD raised its position in Fabrinet by 163.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,041,227 shares of the technology company’s stock worth $1,839,891,000 after purchasing an additional 2,504,841 shares during the period. Norges Bank bought a new position in shares of Fabrinet during the fourth quarter valued at about $193,766,000. JPMorgan Chase & Co. grew its stake in shares of Fabrinet by 64.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,065,414 shares of the technology company’s stock valued at $485,063,000 after buying an additional 419,081 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Fabrinet by 183.5% in the third quarter. Arrowstreet Capital Limited Partnership now owns 333,555 shares of the technology company’s stock worth $121,621,000 after buying an additional 215,903 shares during the period. Finally, Polar Capital Holdings Plc increased its holdings in shares of Fabrinet by 58.9% in the fourth quarter. Polar Capital Holdings Plc now owns 551,916 shares of the technology company’s stock worth $251,276,000 after buying an additional 204,612 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 0.0%

Fabrinet stock opened at $526.97 on Wednesday. The firm has a market cap of $18.88 billion, a P/E ratio of 45.27 and a beta of 1.23. Fabrinet has a 1-year low of $272.49 and a 1-year high of $748.89. The firm has a 50-day moving average of $533.97 and a 200-day moving average of $566.55.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lowered their target price on Fabrinet from $800.00 to $650.00 and set a “buy” rating for the company in a research note on Wednesday, July 22nd. Northland Securities set a $800.00 price target on Fabrinet in a research note on Monday, April 20th. Barclays lifted their price target on Fabrinet from $548.00 to $702.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Wall Street Zen lowered Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday, July 20th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Fabrinet from $700.00 to $680.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 5th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $643.00.

Insider Buying and Selling

In other Fabrinet news, Director Homa Bahrami sold 2,500 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $711.91, for a total value of $1,779,775.00. Following the completion of the sale, the director owned 16,233 shares in the company, valued at approximately $11,556,435.03. This trade represents a 13.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Fabrinet Company Profile

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.