Wellington Management Group LLP Has $162.38 Million Holdings in Fabrinet (NYSE:FN)

Wellington Management Group LLP decreased its position in Fabrinet (NYSE:FN) by 5.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 853,152 shares of the technology company’s stock after selling 51,353 shares during the period. Wellington Management Group LLP owned about 2.35% of Fabrinet worth $162,380,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Place Capital Corp acquired a new position in shares of Fabrinet in the 4th quarter valued at about $26,000. Salem Investment Counselors Inc. purchased a new position in Fabrinet during the fourth quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new position in Fabrinet in the 4th quarter valued at approximately $34,000. Parallel Advisors LLC lifted its position in Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after buying an additional 77 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new stake in shares of Fabrinet during the 3rd quarter valued at $47,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Up 2.4 %

Shares of Fabrinet stock opened at $254.33 on Thursday. Fabrinet has a 12-month low of $114.83 and a 12-month high of $256.51. The stock has a 50 day moving average price of $213.18 and a two-hundred day moving average price of $201.42. The stock has a market capitalization of $9.19 billion, a P/E ratio of 33.78 and a beta of 0.99.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, May 6th. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.28. The business had revenue of $731.54 million during the quarter, compared to the consensus estimate of $718.94 million. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. Sell-side analysts anticipate that Fabrinet will post 7.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FN. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research note on Thursday, April 11th. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Fabrinet in a research note on Tuesday, May 7th. Finally, B. Riley cut their price objective on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fabrinet has a consensus rating of “Moderate Buy” and a consensus target price of $161.00.

Insider Buying and Selling

In other Fabrinet news, Director Frank H. Levinson sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $241.71, for a total value of $1,450,260.00. Following the sale, the director now owns 5,709 shares of the company’s stock, valued at approximately $1,379,922.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.51% of the stock is owned by insiders.

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.