Fabrinet (FN) Shares Sold by Thompson Davis & CO. Inc.

Thompson Davis & CO. Inc. lowered its holdings in Fabrinet (NYSE:FN) by 53.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,631 shares of the technology company’s stock after selling 3,004 shares during the quarter. Thompson Davis & CO. Inc.’s holdings in Fabrinet were worth $112,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Alps Advisors Inc. grew its holdings in Fabrinet by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 12,341 shares of the technology company’s stock valued at $526,000 after buying an additional 32 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Fabrinet by 1.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,608 shares of the technology company’s stock valued at $110,000 after buying an additional 48 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Fabrinet by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,200 shares of the technology company’s stock valued at $648,000 after buying an additional 100 shares during the last quarter. Meridian Wealth Management LLC grew its holdings in Fabrinet by 1.7% in the 1st quarter. Meridian Wealth Management LLC now owns 7,571 shares of the technology company’s stock valued at $318,000 after buying an additional 125 shares during the last quarter. Finally, Suffolk Capital Management LLC grew its holdings in Fabrinet by 0.4% in the 1st quarter. Suffolk Capital Management LLC now owns 35,997 shares of the technology company’s stock valued at $1,513,000 after buying an additional 139 shares during the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 target price on shares of Fabrinet in a report on Tuesday, September 5th. B. Riley reaffirmed a “buy” rating and issued a $46.50 target price on shares of Fabrinet in a report on Monday, August 28th. Zacks Investment Research lowered Fabrinet from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. BidaskClub lowered Fabrinet from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $51.00 target price (down previously from $55.00) on shares of Fabrinet in a report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.93.

Shares of Fabrinet (NYSE:FN) traded down 0.66% during mid-day trading on Friday, hitting $37.41. The company’s stock had a trading volume of 314,348 shares. The company has a 50-day moving average of $41.37 and a 200 day moving average of $40.20. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 14.56 and a beta of 1.14. Fabrinet has a 1-year low of $31.97 and a 1-year high of $49.63.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, August 21st. The technology company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.83 by $0.11. Fabrinet had a net margin of 6.84% and a return on equity of 15.32%. The firm had revenue of $370.50 million during the quarter, compared to analyst estimates of $363.41 million. During the same period in the previous year, the company posted $0.60 EPS. Fabrinet’s revenue for the quarter was up 34.0% compared to the same quarter last year. On average, analysts expect that Fabrinet will post $3.46 EPS for the current year.

Fabrinet declared that its board has approved a stock repurchase plan on Monday, August 21st that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 21% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

In other news, CEO David T. Mitchell sold 105,000 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $38.63, for a total value of $4,056,150.00. Following the transaction, the chief executive officer now owns 111,057 shares of the company’s stock, valued at $4,290,131.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David T. Mitchell sold 52,500 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $41.22, for a total value of $2,164,050.00. Following the completion of the transaction, the chief executive officer now directly owns 42,631 shares in the company, valued at approximately $1,757,249.82. The disclosure for this sale can be found here. Insiders sold 260,000 shares of company stock worth $10,198,400 in the last ninety days. 4.30% of the stock is owned by company insiders.

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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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