Everence Capital Management Inc. Has $1.09 Million Stake in Fabrinet (NYSE:FN)

Everence Capital Management Inc. decreased its position in shares of Fabrinet (NYSE:FN) by 10.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,750 shares of the technology company’s stock after selling 670 shares during the period. Everence Capital Management Inc.’s holdings in Fabrinet were worth $1,094,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of FN. Vanguard Group Inc. increased its holdings in shares of Fabrinet by 0.4% in the third quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock valued at $722,017,000 after purchasing an additional 16,228 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Fabrinet by 3.0% in the third quarter. Advisors Asset Management Inc. now owns 7,265 shares of the technology company’s stock valued at $1,210,000 after purchasing an additional 211 shares in the last quarter. Redwood Investments LLC acquired a new stake in shares of Fabrinet in the fourth quarter valued at approximately $3,478,000. Wellington Management Group LLP increased its holdings in shares of Fabrinet by 21.3% in the third quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock valued at $150,709,000 after purchasing an additional 159,037 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Fabrinet by 16.8% in the third quarter. Sei Investments Co. now owns 90,345 shares of the technology company’s stock valued at $15,053,000 after purchasing an additional 13,022 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on FN shares. Northland Securities raised shares of Fabrinet from a “market perform” rating to an “outperform” rating and raised their price target for the company from $200.00 to $220.00 in a report on Thursday, March 21st. Needham & Company LLC reduced their price objective on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. raised their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $230.00 price objective on shares of Fabrinet in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.57.

Insiders Place Their Bets

In other news, Director Rollance E. Olson sold 10,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the sale, the director now owns 25,981 shares of the company’s stock, valued at $5,339,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.51% of the stock is currently owned by insiders.

Fabrinet Stock Down 0.0 %

Shares of NYSE FN opened at $172.85 on Wednesday. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 24.97 and a beta of 1.04. The company’s fifty day moving average is $196.69 and its 200-day moving average is $185.55. 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, topping the consensus estimate of $1.84 by $0.05. The company had revenue of $712.69 million during the quarter, compared to analyst estimates of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. On average, research analysts anticipate that Fabrinet will post 7.64 EPS for the current fiscal year.

Fabrinet Company 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.