Royce & Associates LP Increases Stake in Fabrinet (FN)

Royce & Associates LP lifted its holdings in shares of Fabrinet (NYSE:FN) by 55.9% during the fourth quarter, Holdings Channel reports. The fund owned 2,418,024 shares of the technology company’s stock after purchasing an additional 866,564 shares during the quarter. Royce & Associates LP owned approximately 0.06% of Fabrinet worth $69,397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FN. SG Americas Securities LLC acquired a new stake in shares of Fabrinet during the third quarter worth $161,000. Russell Investments Group Ltd. lifted its holdings in shares of Fabrinet by 139.7% during the third quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock worth $179,000 after purchasing an additional 2,810 shares during the period. Miles Capital Inc. acquired a new stake in shares of Fabrinet during the fourth quarter worth $219,000. Unison Advisors LLC acquired a new stake in shares of Fabrinet during the fourth quarter worth $220,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Fabrinet during the second quarter worth $344,000. Institutional investors and hedge funds own 94.25% of the company’s stock.

A number of research firms have commented on FN. ValuEngine raised Fabrinet from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Northland Securities set a $37.00 target price on Fabrinet and gave the company a “buy” rating in a report on Monday, January 29th. Stifel Nicolaus reduced their target price on Fabrinet from $40.00 to $35.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Piper Jaffray Companies reissued a “buy” rating on shares of Fabrinet in a report on Friday, November 10th. Finally, B. Riley reduced their target price on Fabrinet from $46.50 to $42.50 and set a “buy” rating for the company in a report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Fabrinet has an average rating of “Buy” and a consensus price target of $41.25.

Shares of Fabrinet (FN) opened at $29.14 on Friday. The company has a market capitalization of $1,086.37, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 1.15 and a beta of 0.75. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.84 and a quick ratio of 1.99. Fabrinet has a fifty-two week low of $24.02 and a fifty-two week high of $49.63.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, February 5th. The technology company reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.02. The business had revenue of $337.10 million during the quarter, compared to the consensus estimate of $329.41 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. equities research analysts expect that Fabrinet will post 2.12 EPS for the current year.

Fabrinet declared that its board has initiated a stock repurchase program on Monday, February 5th that permits the company to buyback $30.00 million in shares. This buyback authorization permits the technology company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In other news, insider David T. Mitchell sold 8,600 shares of Fabrinet stock in a transaction on Monday, January 8th. The stock was 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 owns 111,057 shares of the company’s stock, valued at approximately $3,333,931.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David T. Mitchell sold 32,021 shares of Fabrinet stock in a transaction on Friday, February 16th. The stock was sold at an average price of $29.30, for a total value of $938,215.30. Following the transaction, the insider now directly owns 111,057 shares of the company’s stock, valued at approximately $3,253,970.10. The disclosure for this sale can be found here. Insiders have sold a total of 160,422 shares of company stock valued at $4,838,313 in the last ninety days. Corporate insiders own 3.30% of the company’s stock.

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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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