Dupont Capital Management Corp Has $379,000 Position in Fabrinet (FN)
Dupont Capital Management Corp lowered its stake in Fabrinet (NYSE:FN) by 37.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,202 shares of the technology company’s stock after selling 4,906 shares during the quarter. Dupont Capital Management Corp’s holdings in Fabrinet were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Sapphire Star Partners LP grew its stake in Fabrinet by 5.9% during the 2nd quarter. Sapphire Star Partners LP now owns 23,409 shares of the technology company’s stock valued at $864,000 after acquiring an additional 1,296 shares in the last quarter. Millennium Management LLC grew its stake in Fabrinet by 20.1% during the 1st quarter. Millennium Management LLC now owns 9,353 shares of the technology company’s stock valued at $293,000 after acquiring an additional 1,565 shares in the last quarter. Yorktown Management & Research Co Inc grew its stake in Fabrinet by 11.3% during the 2nd quarter. Yorktown Management & Research Co Inc now owns 15,634 shares of the technology company’s stock valued at $577,000 after acquiring an additional 1,584 shares in the last quarter. Scout Investments Inc. grew its stake in Fabrinet by 2.2% during the 3rd quarter. Scout Investments Inc. now owns 82,007 shares of the technology company’s stock valued at $3,794,000 after acquiring an additional 1,758 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Fabrinet by 19.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 17,850 shares of the technology company’s stock valued at $658,000 after acquiring an additional 2,910 shares in the last quarter. 99.34% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director David T. Mitchell sold 40,000 shares of Fabrinet stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $46.14, for a total transaction of $1,845,600.00. Following the completion of the sale, the director now directly owns 69,641 shares in the company, valued at approximately $3,213,235.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rollance E. Olson sold 5,000 shares of Fabrinet stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $48.03, for a total value of $240,150.00. Following the sale, the director now owns 48,303 shares of the company’s stock, valued at $2,319,993.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 171,081 shares of company stock valued at $8,040,765. 1.90% of the stock is owned by corporate insiders.
Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, November 5th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.24. The business had revenue of $377.00 million during the quarter, compared to analyst estimates of $352.28 million. Fabrinet had a return on equity of 13.53% and a net margin of 6.54%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. Equities analysts expect that Fabrinet will post 3.12 earnings per share for the current fiscal year.
Several equities analysts have weighed in on FN shares. Needham & Company LLC cut Fabrinet from a “strong-buy” rating to a “buy” rating and lifted their target price for the company from $45.00 to $55.00 in a research note on Tuesday, August 21st. They noted that the move was a valuation call. Stifel Nicolaus started coverage on Fabrinet in a research note on Monday, October 22nd. They set a “buy” rating and a $53.00 target price on the stock. Zacks Investment Research raised Fabrinet from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research note on Friday, August 17th. B. Riley lifted their target price on Fabrinet from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Finally, ValuEngine raised Fabrinet from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $50.17.
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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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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