Illinois Municipal Retirement Fund Has $4.05 Million Holdings in Fabrinet (NYSE:FN)

Illinois Municipal Retirement Fund decreased its holdings in Fabrinet (NYSE:FN) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,269 shares of the technology company’s stock after selling 500 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Fabrinet worth $4,048,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in FN. Vanguard Group Inc. grew its holdings in shares of Fabrinet by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock worth $722,017,000 after purchasing an additional 16,228 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Fabrinet by 3.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 7,265 shares of the technology company’s stock worth $1,210,000 after purchasing an additional 211 shares during the last quarter. Redwood Investments LLC bought a new stake in shares of Fabrinet in the 4th quarter worth about $3,478,000. Wellington Management Group LLP grew its holdings in shares of Fabrinet by 21.3% in the 3rd quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock worth $150,709,000 after purchasing an additional 159,037 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Fabrinet by 16.8% in the 3rd quarter. Sei Investments Co. now owns 90,345 shares of the technology company’s stock worth $15,053,000 after purchasing an additional 13,022 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Price Performance

Shares of NYSE:FN opened at $169.93 on Thursday. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 24.56 and a beta of 1.04. The firm’s 50 day simple moving average is $192.74 and its 200 day simple moving average is $185.23. Fabrinet has a fifty-two week low of $90.19 and a fifty-two week high of $229.02.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.84 by $0.05. The firm had revenue of $712.69 million for the quarter, compared to the consensus estimate of $699.76 million. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. Equities research analysts expect that Fabrinet will post 7.59 earnings per share for the current year.

Insiders Place Their Bets

In other Fabrinet news, Director Rollance E. Olson sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the sale, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FN shares. Northland Securities raised shares of Fabrinet from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $200.00 to $220.00 in a report on Thursday, March 21st. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Rosenblatt Securities reissued a “buy” rating and set a $230.00 price objective on shares of Fabrinet in a report on Tuesday, February 6th. Finally, Needham & Company LLC decreased their price objective on shares of Fabrinet from $230.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $159.57.

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.