Dimensional Fund Advisors LP Has $196.54 Million Position in Fabrinet (NYSE:FN)

Dimensional Fund Advisors LP reduced its holdings in shares of Fabrinet (NYSE:FN) by 7.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 802,869 shares of the technology company’s stock after selling 66,040 shares during the period. Dimensional Fund Advisors LP owned 2.22% of Fabrinet worth $196,541,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FN. Principal Securities Inc. acquired a new stake in Fabrinet during the 4th quarter worth about $65,000. Janney Montgomery Scott LLC boosted its position in shares of Fabrinet by 211.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,516 shares of the technology company’s stock worth $860,000 after purchasing an additional 3,068 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Fabrinet during the 4th quarter worth about $473,000. Trexquant Investment LP bought a new position in shares of Fabrinet during the 4th quarter worth about $563,000. Finally, Franklin Resources Inc. bought a new position in shares of Fabrinet during the 4th quarter worth about $1,421,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FN shares. Jefferies Financial Group started coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC raised their price target on shares of Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. B. Riley raised their price target on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Finally, Rosenblatt Securities raised their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $219.00.

Fabrinet Stock Up 2.3 %

Shares of FN stock opened at $234.21 on Friday. The company has a 50 day moving average of $229.69 and a 200-day moving average of $219.20. Fabrinet has a 12-month low of $149.19 and a 12-month high of $278.38. The firm has a market cap of $8.47 billion, a P/E ratio of 31.10 and a beta of 0.96.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.35. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The company had revenue of $753.26 million during the quarter, compared to analyst estimates of $732.63 million. During the same quarter last year, the business posted $1.68 EPS. Fabrinet’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts expect that Fabrinet will post 9.11 EPS for the current year.

Insider Activity at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Csaba Sverha sold 100 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the transaction, the chief financial officer now owns 19,347 shares of the company’s stock, valued at $5,223,690. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,728 shares of company stock worth $11,645,062. Corporate insiders own 0.51% of the company’s stock.

Fabrinet Profile

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.