Raymond James & Associates cut its stake in shares of Fabrinet (NYSE:FN – Get Rating) by 5.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,385 shares of the technology company's stock after selling 3,243 shares during the period. Raymond James & Associates' holdings in Fabrinet were worth $5,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FN. Covestor Ltd acquired a new position in Fabrinet during the fourth quarter valued at $49,000. Van ECK Associates Corp raised its position in Fabrinet by 16.0% during the first quarter. Van ECK Associates Corp now owns 943 shares of the technology company's stock valued at $99,000 after buying an additional 130 shares during the period. Evergreen Capital Management LLC acquired a new position in Fabrinet during the fourth quarter valued at $239,000. Raymond James Financial Services Advisors Inc. acquired a new position in Fabrinet during the fourth quarter valued at $259,000. Finally, Channing Global Advisors LLC acquired a new position in Fabrinet during the fourth quarter valued at $328,000. 97.21% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Fabrinet

In other news, CEO Seamus Grady sold 26,360 shares of the company's stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $112.24, for a total transaction of $2,958,646.40. Following the completion of the sale, the chief executive officer now owns 74,706 shares in the company, valued at approximately $8,385,001.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Seamus Grady sold 26,360 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $112.24, for a total transaction of $2,958,646.40. Following the completion of the sale, the chief executive officer now owns 74,706 shares in the company, valued at approximately $8,385,001.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David T. Mitchell sold 50,000 shares of the stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $109.95, for a total value of $5,497,500.00. Following the sale, the director now owns 27,953 shares of the company's stock, valued at approximately $3,073,432.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,129 shares of company stock worth $12,818,755. 0.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Fabrinet Stock Performance

Shares of FN stock opened at $97.86 on Monday. The firm has a market cap of $3.57 billion, a P/E ratio of 18.26 and a beta of 0.99. The stock's 50-day moving average is $93.51 and its two-hundred day moving average is $94.17. Fabrinet has a fifty-two week low of $74.57 and a fifty-two week high of $126.28. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.83 and a quick ratio of 1.80.

Fabrinet (NYSE:FN – Get Rating) last released its quarterly earnings results on Monday, August 15th. The technology company reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.26. The company had revenue of $587.90 million during the quarter, compared to the consensus estimate of $581.48 million. Fabrinet had a return on equity of 16.67% and a net margin of 8.86%. The firm's revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.14 EPS. Analysts predict that Fabrinet will post 6.11 earnings per share for the current fiscal year.

Fabrinet Company Profile

(Get Rating)

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.

Recommended Stories

• Get a free copy of the StockNews.com research report on Fabrinet (FN)
• Could Snap Stock Rebound As Management Restructures?
• MarketBeat: Week in Review 8/29 – 9/2
• Hormel Looks Cheap At These Levels
• Lululemon Set To Soar Into September
• Could Nike Stock be Oversold, but Still Overvalued?

Want to see what other hedge funds are holding FN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fabrinet (NYSE:FN – Get Rating).

Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.