Cwm LLC Sells 48 Shares of Fabrinet (NYSE:FN)

Cwm LLC lowered its holdings in Fabrinet (NYSE:FN) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 226 shares of the technology company’s stock after selling 48 shares during the period. Cwm LLC’s holdings in Fabrinet were worth $43,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in Fabrinet by 12.8% in the third quarter. Commonwealth Equity Services LLC now owns 3,636 shares of the technology company’s stock valued at $606,000 after purchasing an additional 414 shares during the last quarter. Xponance Inc. lifted its position in shares of Fabrinet by 6.8% during the 3rd quarter. Xponance Inc. now owns 2,313 shares of the technology company’s stock valued at $385,000 after buying an additional 147 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Fabrinet by 3.5% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock worth $368,000 after acquiring an additional 75 shares during the period. New York State Teachers Retirement System grew its stake in shares of Fabrinet by 52.8% during the 3rd quarter. New York State Teachers Retirement System now owns 28,667 shares of the technology company’s stock worth $4,776,000 after acquiring an additional 9,900 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in Fabrinet in the 3rd quarter worth about $328,000. 97.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FN shares. B. Riley cut their target price on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Tuesday. Rosenblatt Securities restated a “buy” rating and set a $230.00 target price on shares of Fabrinet in a research report on Tuesday, February 6th. JPMorgan Chase & Co. lifted their price target on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 target price on shares of Fabrinet in a report on Tuesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $161.00.

Fabrinet Stock Up 3.1 %

NYSE:FN opened at $218.01 on Friday. The stock has a market cap of $7.92 billion, a P/E ratio of 31.50 and a beta of 1.04. The business’s 50-day moving average price is $189.96 and its two-hundred day moving average price is $186.17. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 5th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The business had revenue of $712.69 million for the quarter, compared to the consensus estimate of $699.76 million. On average, equities research analysts expect that Fabrinet will post 7.59 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In related news, Director Rollance E. Olson sold 10,000 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $205.52, for a total value of $2,055,200.00. Following the completion of the transaction, the director now directly owns 25,981 shares in the company, valued at $5,339,615.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.51% of the company’s stock.

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.