Wealth Alliance Sells 74 Shares of Fabrinet (NYSE:FN)

Wealth Alliance decreased its stake in Fabrinet (NYSE:FN) by 5.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,177 shares of the technology company’s stock after selling 74 shares during the quarter. Wealth Alliance’s holdings in Fabrinet were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FN. Bank of Montreal Can lifted its stake in Fabrinet by 9.7% in the first quarter. Bank of Montreal Can now owns 11,292 shares of the technology company’s stock valued at $1,217,000 after buying an additional 998 shares during the period. Rhumbline Advisers lifted its stake in Fabrinet by 6.6% in the first quarter. Rhumbline Advisers now owns 90,911 shares of the technology company’s stock valued at $9,557,000 after buying an additional 5,603 shares during the period. BlackRock Inc. raised its position in shares of Fabrinet by 0.4% during the first quarter. BlackRock Inc. now owns 5,594,458 shares of the technology company’s stock worth $588,146,000 after purchasing an additional 24,058 shares during the period. Yousif Capital Management LLC raised its position in shares of Fabrinet by 1.1% during the first quarter. Yousif Capital Management LLC now owns 34,565 shares of the technology company’s stock worth $3,634,000 after purchasing an additional 365 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Fabrinet by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,173,594 shares of the technology company’s stock worth $438,770,000 after purchasing an additional 30,481 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Down 1.7 %

FN stock opened at $162.32 on Friday. The business has a 50 day moving average price of $194.70 and a two-hundred day moving average price of $185.23. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 23.46 and a beta of 1.04. Fabrinet has a twelve month low of $90.19 and a twelve month high of $229.02.

Fabrinet (NYSE:FN) last posted its quarterly 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. The firm had revenue of $712.69 million during the quarter, compared to the consensus estimate of $699.76 million. Fabrinet had a return on equity of 17.27% and a net margin of 9.35%. On average, equities research analysts anticipate that Fabrinet will post 7.64 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 10,000 shares of Fabrinet stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the transaction, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FN shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $230.00 price target on shares of Fabrinet in a research report on Tuesday, February 6th. Needham & Company LLC dropped their price target on Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. raised their price target on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Finally, 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 report on Thursday, March 21st. Three 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, Fabrinet has a consensus rating of “Moderate Buy” and an average target price of $159.57.

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.