Fabrinet (NYSE:FN) Shares Sold by American International Group Inc.

American International Group Inc. lowered its stake in shares of Fabrinet (NYSE:FN) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,072 shares of the technology company’s stock after selling 287 shares during the period. American International Group Inc. owned approximately 0.08% of Fabrinet worth $1,440,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Piedmont Investment Advisors Inc. increased its stake in Fabrinet by 4.3% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 8,751 shares of the technology company’s stock worth $449,000 after buying an additional 361 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Fabrinet by 19.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,382 shares of the technology company’s stock worth $122,000 after acquiring an additional 392 shares in the last quarter. Nkcfo LLC acquired a new position in Fabrinet during the 4th quarter worth $30,000. Sapphire Star Partners LP grew its holdings in Fabrinet by 2.6% during the 4th quarter. Sapphire Star Partners LP now owns 25,253 shares of the technology company’s stock worth $1,296,000 after acquiring an additional 647 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in Fabrinet by 24.7% during the 3rd quarter. Riverhead Capital Management LLC now owns 5,552 shares of the technology company’s stock worth $257,000 after acquiring an additional 1,100 shares in the last quarter. 96.96% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on FN. Zacks Investment Research lowered shares of Fabrinet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 9th. Piper Jaffray Companies lifted their price target on shares of Fabrinet from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Thursday, January 24th. Finally, ValuEngine raised shares of Fabrinet from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $54.17.

Fabrinet stock traded down $0.12 during midday trading on Friday, reaching $60.03. 331,207 shares of the stock traded hands, compared to its average volume of 322,870. Fabrinet has a fifty-two week low of $27.69 and a fifty-two week high of $61.18. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 20.14, a PEG ratio of 1.43 and a beta of 0.58. The company has a quick ratio of 2.26, a current ratio of 3.19 and a debt-to-equity ratio of 0.08.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 4th. The technology company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Fabrinet had a net margin of 7.08% and a return on equity of 14.91%. The company had revenue of $403.10 million for the quarter, compared to the consensus estimate of $386.22 million. During the same period in the previous year, the firm earned $0.72 EPS. Fabrinet’s revenue was up 19.6% on a year-over-year basis. Research analysts expect that Fabrinet will post 3.22 earnings per share for the current year.

In related news, Director David T. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $52.57, for a total value of $1,577,100.00. Following the sale, the director now directly owns 73,748 shares in the company, valued at approximately $3,876,932.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Toh-Seng Ng sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $54.43, for a total transaction of $544,300.00. Following the completion of the sale, the chief financial officer now owns 80,266 shares in the company, valued at $4,368,878.38. The disclosure for this sale can be found here. Insiders have sold a total of 132,518 shares of company stock worth $7,280,154 over the last 90 days. 1.90% of the stock is owned by insiders.

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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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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