California State Teachers Retirement System Sells 6,150 Shares of Fabrinet (FN)

California State Teachers Retirement System lowered its holdings in Fabrinet (NYSE:FN) by 9.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,134 shares of the technology company’s stock after selling 6,150 shares during the period. California State Teachers Retirement System owned approximately 0.15% of Fabrinet worth $2,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its holdings in shares of Fabrinet by 5.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 212,410 shares of the technology company’s stock worth $9,062,000 after acquiring an additional 11,664 shares during the period. Swiss National Bank lifted its holdings in shares of Fabrinet by 19.2% during the 2nd quarter. Swiss National Bank now owns 61,540 shares of the technology company’s stock worth $2,625,000 after acquiring an additional 9,900 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Fabrinet by 3.3% during the 2nd quarter. Alliancebernstein L.P. now owns 47,300 shares of the technology company’s stock worth $2,018,000 after acquiring an additional 1,500 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Fabrinet by 68.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,864 shares of the technology company’s stock worth $122,000 after acquiring an additional 1,164 shares during the period. Finally, Teachers Advisors LLC lifted its holdings in shares of Fabrinet by 15.4% during the 2nd quarter. Teachers Advisors LLC now owns 424,103 shares of the technology company’s stock worth $18,092,000 after acquiring an additional 56,700 shares during the period. 94.61% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on the stock. ValuEngine downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Fabrinet in a report on Friday, November 10th. Zacks Investment Research downgraded shares of Fabrinet from a “hold” rating to a “sell” rating in a report on Friday, November 10th. Needham & Company LLC cut their price target on shares of Fabrinet from $60.00 to $45.00 and set a “strong-buy” rating for the company in a report on Tuesday, November 7th. Finally, JPMorgan Chase & Co. downgraded shares of Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 price target for the company. in a report on Tuesday, November 7th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $46.42.

In related news, insider David T. Mitchell sold 8,600 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $30.02, for a total transaction of $258,172.00. Following the completion of the transaction, the insider now directly owns 111,057 shares in the company, valued at approximately $3,333,931.14. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider David T. Mitchell sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $30.93, for a total transaction of $1,546,500.00. Following the transaction, the insider now owns 111,057 shares of the company’s stock, valued at $3,434,993.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,600 shares of company stock valued at $3,306,172. 3.30% of the stock is owned by corporate insiders.

Fabrinet (FN) opened at $28.87 on Wednesday. The stock has a market cap of $1,090.00, a P/E ratio of 11.50, a P/E/G ratio of 1.09 and a beta of 1.00. Fabrinet has a 12-month low of $28.35 and a 12-month high of $49.63. The company has a current ratio of 2.70, a quick ratio of 1.85 and a debt-to-equity ratio of 0.03.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 6th. The technology company reported $0.55 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). Fabrinet had a return on equity of 14.35% and a net margin of 6.60%. analysts anticipate that Fabrinet will post 2.22 earnings per share for the current year.

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Fabrinet Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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