Stephens Investment Management Group LLC Reduces Holdings in Fabrinet $FN

Stephens Investment Management Group LLC trimmed its stake in shares of Fabrinet (NYSE:FN) by 11.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 138,106 shares of the technology company’s stock after selling 17,226 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Fabrinet were worth $50,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Maseco LLP bought a new stake in Fabrinet in the second quarter valued at approximately $25,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Fabrinet in the second quarter worth $35,000. First Horizon Advisors Inc. raised its holdings in Fabrinet by 124.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock valued at $41,000 after buying an additional 77 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Fabrinet by 118.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 142 shares of the technology company’s stock valued at $42,000 after buying an additional 77 shares during the last quarter. Finally, REAP Financial Group LLC boosted its position in Fabrinet by 171.9% during the 2nd quarter. REAP Financial Group LLC now owns 155 shares of the technology company’s stock valued at $46,000 after buying an additional 98 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Thomas F. Kelly sold 2,200 shares of the stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $464.14, for a total value of $1,021,108.00. Following the completion of the transaction, the director owned 18,789 shares in the company, valued at approximately $8,720,726.46. This represents a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Seamus Grady sold 22,451 shares of the firm’s stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $446.95, for a total value of $10,034,474.45. Following the transaction, the chief executive officer directly owned 23,573 shares of the company’s stock, valued at $10,535,952.35. This represents a 48.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 28,151 shares of company stock valued at $12,643,707. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Susquehanna initiated coverage on shares of Fabrinet in a research report on Monday, December 15th. They issued a “positive” rating and a $550.00 price objective on the stock. Barclays raised Fabrinet from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $499.00 to $537.00 in a research note on Wednesday. Rosenblatt Securities upped their price target on Fabrinet from $425.00 to $550.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Northland Securities set a $600.00 price objective on Fabrinet in a report on Monday, December 22nd. Finally, Needham & Company LLC lifted their price objective on Fabrinet from $440.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $474.63.

Fabrinet Price Performance

FN stock opened at $493.73 on Friday. Fabrinet has a 1 year low of $148.55 and a 1 year high of $531.22. The firm has a 50-day moving average of $458.43 and a 200 day moving average of $389.70. The company has a market cap of $17.69 billion, a P/E ratio of 50.85 and a beta of 1.04.

Fabrinet Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.