Fabrinet (NYSE:FN) Shares Sold by Campbell Newman Asset Management Inc.

Campbell Newman Asset Management Inc. lowered its stake in shares of Fabrinet (NYSE:FN) by 0.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,644 shares of the technology company’s stock after selling 70 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Fabrinet were worth $3,090,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of FN. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Fabrinet by 178.9% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,008 shares of the technology company’s stock valued at $881,000 after acquiring an additional 2,571 shares during the period. Kestra Private Wealth Services LLC raised its stake in shares of Fabrinet by 72.7% in the 4th quarter. Kestra Private Wealth Services LLC now owns 2,450 shares of the technology company’s stock valued at $539,000 after acquiring an additional 1,031 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Fabrinet by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 10,100 shares of the technology company’s stock valued at $2,221,000 after acquiring an additional 100 shares during the period. Van ECK Associates Corp raised its stake in shares of Fabrinet by 36.2% in the 4th quarter. Van ECK Associates Corp now owns 32,087 shares of the technology company’s stock valued at $7,055,000 after acquiring an additional 8,533 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of Fabrinet by 2.2% in the 4th quarter. Rhumbline Advisers now owns 111,934 shares of the technology company’s stock valued at $24,612,000 after acquiring an additional 2,440 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Down 4.7%

Shares of NYSE:FN opened at $244.97 on Friday. The company has a market cap of $8.78 billion, a PE ratio of 27.40 and a beta of 0.98. The company’s 50-day moving average price is $214.78 and its 200 day moving average price is $218.07. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.05. The firm had revenue of $871.80 million for the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. Fabrinet’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the firm posted $2.39 EPS. As a group, equities analysts anticipate that Fabrinet will post 9.4 EPS for the current year.

Insider Activity at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total transaction of $559,950.00. Following the sale, the director now directly owns 23,201 shares in the company, valued at approximately $5,196,559.98. The trade was a 9.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Harpal Gill sold 18,675 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the sale, the chief operating officer now owns 18,068 shares in the company, valued at $4,336,320. This trade represents a 50.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FN shares. Fox Advisors started coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price target for the company. Rosenblatt Securities raised their price target on shares of Fabrinet from $250.00 to $290.00 and gave the company a “buy” rating in a report on Thursday. B. Riley raised shares of Fabrinet from a “sell” rating to a “neutral” rating and decreased their price objective for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Needham & Company LLC reissued a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a report on Tuesday, May 6th. Finally, Barclays set a $234.00 price objective on shares of Fabrinet and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Fabrinet currently has a consensus rating of “Hold” and an average target price of $245.00.

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.