Two Sigma Advisers LP Purchases Shares of 99,093 Fabrinet (FN)

Two Sigma Advisers LP purchased a new position in shares of Fabrinet (NYSE:FN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 99,093 shares of the technology company’s stock, valued at approximately $2,844,000. Two Sigma Advisers LP owned 0.27% of Fabrinet as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Fabrinet during the 3rd quarter worth $161,000. Russell Investments Group Ltd. grew its stake in shares of Fabrinet by 139.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock worth $179,000 after purchasing an additional 2,810 shares during the period. Invictus RG acquired a new position in shares of Fabrinet during the 4th quarter worth $194,000. Miles Capital Inc. acquired a new position in shares of Fabrinet during the 4th quarter worth $219,000. Finally, Unison Advisors LLC acquired a new position in shares of Fabrinet during the 4th quarter worth $220,000. 98.66% of the stock is currently owned by institutional investors and hedge funds.

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FN has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Fabrinet from $40.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. ValuEngine cut shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $40.00 price target (down from $45.00) on shares of Fabrinet in a research note on Tuesday, February 6th. Finally, Northland Securities set a $37.00 price target on shares of Fabrinet and gave the stock a “buy” rating in a research note on Monday, January 29th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $41.25.

In related news, insider David T. Mitchell sold 8,600 shares of the stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $30.02, for a total value of $258,172.00. Following the sale, the insider now directly owns 111,057 shares of the company’s stock, valued at approximately $3,333,931.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David T. Mitchell sold 40,000 shares of the stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $30.77, for a total transaction of $1,230,800.00. Following the completion of the sale, the insider now directly owns 111,057 shares in the company, valued at $3,417,223.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 280,442 shares of company stock worth $8,360,899. 3.30% of the stock is owned by corporate insiders.

Shares of NYSE FN opened at $31.19 on Friday. The stock has a market capitalization of $1,168.77, a P/E ratio of 13.34 and a beta of 0.54. Fabrinet has a 52 week low of $24.02 and a 52 week high of $47.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.99 and a current ratio of 2.84.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 5th. The technology company reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.02. The firm had revenue of $337.10 million for the quarter, compared to analysts’ expectations of $329.41 million. Fabrinet had a net margin of 6.24% and a return on equity of 12.96%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS.

Fabrinet announced that its Board of Directors has approved a share buyback plan on Monday, February 5th that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

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About Fabrinet

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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