Vaughan Nelson Investment Management L.P. Sells 22,419 Shares of Fabrinet (NYSE:FN)

Vaughan Nelson Investment Management L.P. lessened its position in shares of Fabrinet (NYSE:FN) by 5.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 379,885 shares of the technology company’s stock after selling 22,419 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Fabrinet were worth $71,805,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Congress Wealth Management LLC DE increased its holdings in shares of Fabrinet by 4.0% in the first quarter. Congress Wealth Management LLC DE now owns 59,775 shares of the technology company’s stock worth $11,299,000 after acquiring an additional 2,317 shares in the last quarter. Park Place Capital Corp lifted its stake in Fabrinet by 179.1% in the first quarter. Park Place Capital Corp now owns 388 shares of the technology company’s stock valued at $73,000 after buying an additional 249 shares in the last quarter. Wolff Wiese Magana LLC bought a new stake in shares of Fabrinet during the first quarter worth $246,000. Diversified Trust Co raised its holdings in shares of Fabrinet by 4.3% during the first quarter. Diversified Trust Co now owns 9,006 shares of the technology company’s stock worth $1,702,000 after acquiring an additional 371 shares during the period. Finally, Ausbil Investment Management Ltd lifted its position in Fabrinet by 286.7% in the 1st quarter. Ausbil Investment Management Ltd now owns 4,057 shares of the technology company’s stock valued at $766,000 after acquiring an additional 3,008 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analyst Weigh In

FN has been the topic of a number of research reports. B. Riley cut their price objective on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. JPMorgan Chase & Co. upped their target price on Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Jefferies Financial Group began coverage on Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price target on shares of Fabrinet in a research report on Tuesday, May 7th. Finally, Northland Securities raised shares of Fabrinet from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $200.00 to $220.00 in a research report on Thursday, March 21st. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $168.67.

Fabrinet Trading Up 0.8 %

FN stock traded up $1.91 during mid-day trading on Tuesday, hitting $244.81. 11,212 shares of the company were exchanged, compared to its average volume of 448,309. Fabrinet has a 1-year low of $114.83 and a 1-year high of $257.04. The stock has a market capitalization of $8.85 billion, a PE ratio of 32.25 and a beta of 0.96. The business has a 50 day simple moving average of $225.14 and a 200-day simple moving average of $205.81.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, May 6th. The technology company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $1.93 by $0.28. Fabrinet had a return on equity of 17.67% and a net margin of 9.90%. The business had revenue of $731.54 million during the quarter, compared to analysts’ expectations of $718.94 million. Equities research analysts expect that Fabrinet will post 7.95 earnings per share for the current year.

Insider Activity

In related news, Director Frank H. Levinson sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $241.71, for a total value of $1,450,260.00. Following the completion of the sale, the director now directly owns 5,709 shares in the company, valued at $1,379,922.39. The sale was disclosed in a filing with the SEC, which is available at this link. 0.51% of the stock is currently owned by company insiders.

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.