Principal Financial Group Inc. Sells 6,236 Shares of Fabrinet (NYSE:FN)

Principal Financial Group Inc. lowered its position in Fabrinet (NYSE:FNGet Rating) by 2.4% in the 4th quarter, Holdings Channel reports. The fund owned 252,506 shares of the technology company’s stock after selling 6,236 shares during the quarter. Principal Financial Group Inc.’s holdings in Fabrinet were worth $29,914,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FN. McIlrath & Eck LLC raised its position in shares of Fabrinet by 33.1% in the 3rd quarter. McIlrath & Eck LLC now owns 482 shares of the technology company’s stock worth $49,000 after acquiring an additional 120 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Fabrinet in the 4th quarter worth approximately $96,000. Moors & Cabot Inc. bought a new position in shares of Fabrinet in the 3rd quarter worth approximately $132,000. Cubist Systematic Strategies LLC raised its position in shares of Fabrinet by 288.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 1,446 shares of the technology company’s stock worth $148,000 after acquiring an additional 1,074 shares in the last quarter. Finally, American Beacon Advisors Inc. bought a new position in shares of Fabrinet in the 3rd quarter worth approximately $164,000. 95.89% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on FN shares. JPMorgan Chase & Co. increased their target price on Fabrinet from $115.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, January 20th. Loop Capital initiated coverage on Fabrinet in a research report on Monday, April 25th. They set a “buy” rating and a $129.00 price objective for the company. Zacks Investment Research raised Fabrinet from a “hold” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Tuesday, April 19th. B. Riley reduced their price objective on Fabrinet from $100.00 to $96.00 in a research report on Tuesday, May 3rd. Finally, StockNews.com lowered Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Fabrinet has a consensus rating of “Buy” and an average price target of $109.25.

In other news, EVP Edward T. Archer sold 2,146 shares of the firm’s stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $98.73, for a total value of $211,874.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Shares of FN opened at $90.74 on Friday. The business’s fifty day simple moving average is $98.78 and its two-hundred day simple moving average is $106.89. The company has a current ratio of 2.92, a quick ratio of 2.02 and a debt-to-equity ratio of 0.01. Fabrinet has a 12 month low of $79.00 and a 12 month high of $126.28. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 18.22 and a beta of 0.93.

Fabrinet (NYSE:FNGet Rating) last issued its earnings results on Monday, May 2nd. The technology company reported $1.50 EPS for the quarter, missing the consensus estimate of $1.52 by ($0.02). Fabrinet had a net margin of 8.54% and a return on equity of 16.00%. During the same period in the previous year, the company earned $1.03 EPS. As a group, research analysts forecast that Fabrinet will post 5.29 EPS for the current year.

Fabrinet Company Profile (Get Rating)

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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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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