Teachers Retirement System of The State of Kentucky raised its holdings in shares of Fabrinet (NYSE:FN) by 115.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,569 shares of the technology company’s stock after buying an additional 15,869 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.08% of Fabrinet worth $1,261,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FN. BlackRock Inc. lifted its position in shares of Fabrinet by 0.4% during the second quarter. BlackRock Inc. now owns 4,328,966 shares of the technology company’s stock worth $184,673,000 after purchasing an additional 17,385 shares in the last quarter. FMR LLC lifted its position in shares of Fabrinet by 31.8% during the second quarter. FMR LLC now owns 2,772,212 shares of the technology company’s stock worth $118,262,000 after purchasing an additional 669,201 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Fabrinet by 4.8% during the second quarter. Vanguard Group Inc. now owns 1,984,041 shares of the technology company’s stock worth $84,640,000 after purchasing an additional 90,477 shares in the last quarter. Congress Asset Management Co. MA lifted its position in shares of Fabrinet by 23.6% during the second quarter. Congress Asset Management Co. MA now owns 1,727,179 shares of the technology company’s stock worth $73,681,000 after purchasing an additional 330,178 shares in the last quarter. Finally, Royce & Associates LP lifted its position in shares of Fabrinet by 39.9% during the second quarter. Royce & Associates LP now owns 1,396,450 shares of the technology company’s stock worth $59,573,000 after purchasing an additional 398,535 shares in the last quarter. 93.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Fabrinet (FN) opened at 37.68 on Friday. Fabrinet has a 52 week low of $31.97 and a 52 week high of $49.63. The company has a 50 day moving average of $37.78 and a 200-day moving average of $39.45. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 14.66 and a beta of 1.15.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, August 21st. The technology company reported $0.72 earnings per share 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 business had revenue of $370.50 million during the quarter, compared to the consensus estimate of $363.41 million. During the same period in the prior year, the company posted $0.60 earnings per share. The firm’s revenue was up 34.0% compared to the same quarter last year. On average, equities research analysts expect that Fabrinet will post $3.46 earnings per share for the current fiscal year.

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

In related news, CEO David T. Mitchell sold 105,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 111,057 shares in the company, valued at $4,290,131.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Toh-Seng Ng sold 22,500 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $39.00, for a total value of $877,500.00. Following the completion of the transaction, the chief financial officer now owns 201,749 shares of the company’s stock, valued at $7,868,211. The disclosure for this sale can be found here. Insiders sold 207,500 shares of company stock valued at $8,034,350 over the last three months. 4.30% of the stock is owned by company insiders.

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A number of research analysts have recently commented on the stock. J P Morgan Chase & Co reissued an “overweight” rating and set a $54.00 target price (down from $57.00) on shares of Fabrinet in a research report on Tuesday, August 22nd. ValuEngine cut shares of Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Stifel Nicolaus reissued a “buy” rating on shares of Fabrinet in a research report on Tuesday, August 22nd. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Fabrinet in a research report on Tuesday, September 5th. Finally, Zacks Investment Research raised shares of Fabrinet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. Fabrinet currently has an average rating of “Hold” and a consensus price target of $51.58.

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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