Engineers Gate Manager LP raised its stake in Fabrinet (NYSE:FN) by 6.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 52,308 shares of the technology company’s stock after acquiring an additional 3,038 shares during the quarter. Engineers Gate Manager LP’s holdings in Fabrinet were worth $1,501,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Flinton Capital Management LLC grew its stake in shares of Fabrinet by 62.7% during the second quarter. Flinton Capital Management LLC now owns 3,706 shares of the technology company’s stock valued at $158,000 after acquiring an additional 1,428 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Fabrinet during the third quarter valued at about $161,000. Russell Investments Group Ltd. grew its stake in shares of Fabrinet by 139.7% during the third quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock valued at $179,000 after acquiring an additional 2,810 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Fabrinet during the second quarter valued at about $215,000. Finally, Miles Capital Inc. acquired a new stake in shares of Fabrinet during the fourth quarter valued at about $219,000. 96.45% of the stock is currently owned by institutional investors.

Fabrinet (NYSE:FN) opened at $29.04 on Friday. The company has a market capitalization of $1,108.75, a PE ratio of 12.36, a P/E/G ratio of 1.24 and a beta of 0.75. Fabrinet has a 52 week low of $24.02 and a 52 week high of $49.63. The company has a quick ratio of 1.85, a current ratio of 2.84 and a debt-to-equity ratio of 0.02.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, November 6th. The technology company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.07). The firm had revenue of $357.31 million during the quarter, compared to analyst estimates of $358.91 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. analysts anticipate that Fabrinet will post 2 EPS for the current fiscal year.

Fabrinet declared that its Board of Directors has approved a share buyback plan on Monday, February 5th that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

In other Fabrinet news, insider David T. Mitchell sold 69,801 shares of Fabrinet stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $30.02, for a total value of $2,095,426.02. Following the completion of the transaction, the insider now directly owns 111,057 shares in the company, valued at $3,333,931.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David T. Mitchell sold 50,000 shares of Fabrinet stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $30.93, for a total value of $1,546,500.00. Following the completion of the transaction, the insider now owns 111,057 shares of the company’s stock, valued at $3,434,993.01. The disclosure for this sale can be found here. Insiders sold 128,401 shares of company stock valued at $3,900,098 over the last quarter. Insiders own 3.30% of the company’s stock.

FN has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating on shares of Fabrinet in a research note on Thursday, October 12th. Zacks Investment Research upgraded Fabrinet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. B. Riley lowered their target price on Fabrinet from $46.50 to $42.50 and set a “buy” rating for the company in a research note on Friday, November 3rd. JPMorgan Chase & Co. downgraded Fabrinet from an “overweight” rating to a “neutral” rating and set a $42.00 target price for the company. in a research note on Tuesday, November 7th. Finally, Piper Jaffray Companies reiterated a “buy” rating on shares of Fabrinet in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Fabrinet presently has a consensus rating of “Buy” and an average target price of $41.25.

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About Fabrinet

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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