Vaughan Nelson Investment Management L.P. Has $19.73 Million Position in Fabrinet $FN

Vaughan Nelson Investment Management L.P. cut its stake in shares of Fabrinet (NYSE:FN) by 59.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 54,104 shares of the technology company’s stock after selling 78,980 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.15% of Fabrinet worth $19,727,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Maseco LLP acquired a new stake in shares of Fabrinet during the 2nd quarter worth about $25,000. Elevation Point Wealth Partners LLC bought a new stake in Fabrinet during the second quarter worth about $35,000. First Horizon Advisors Inc. increased its holdings in shares of Fabrinet by 124.2% during the second quarter. First Horizon Advisors Inc. now owns 139 shares of the technology company’s stock worth $41,000 after buying an additional 77 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Fabrinet by 118.5% in the second quarter. Cullen Frost Bankers Inc. now owns 142 shares of the technology company’s stock valued at $42,000 after acquiring an additional 77 shares during the last quarter. Finally, REAP Financial Group LLC raised its stake in shares of Fabrinet by 171.9% in the second quarter. REAP Financial Group LLC now owns 155 shares of the technology company’s stock valued at $46,000 after acquiring an additional 98 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Analyst Ratings Changes

FN has been the topic of a number of research analyst reports. Susquehanna assumed coverage on Fabrinet in a research report on Monday, December 15th. They set a “positive” rating and a $550.00 price target on the stock. Barclays increased their target price on Fabrinet from $329.00 to $499.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Fabrinet in a report on Monday, December 29th. Needham & Company LLC upped their price target on shares of Fabrinet from $440.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Northland Securities set a $600.00 price objective on shares of Fabrinet in a research report on Monday, December 22nd. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Fabrinet has an average rating of “Moderate Buy” and a consensus target price of $469.88.

Insider Activity

In other Fabrinet news, CEO Seamus Grady sold 22,451 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $446.95, for a total value of $10,034,474.45. Following the transaction, the chief executive officer directly owned 23,573 shares of the company’s stock, valued at approximately $10,535,952.35. This trade represents a 48.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Homa Bahrami sold 3,500 shares of Fabrinet stock in a transaction on Monday, December 1st. The stock was sold at an average price of $453.75, for a total transaction of $1,588,125.00. Following the sale, the director directly owned 18,316 shares of the company’s stock, valued at $8,310,885. This represents a 16.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 28,151 shares of company stock valued at $12,643,707. 0.24% of the stock is currently owned by insiders.

Fabrinet Stock Down 1.7%

Shares of FN opened at $470.91 on Thursday. Fabrinet has a 12-month low of $148.55 and a 12-month high of $531.22. The firm has a market capitalization of $16.87 billion, a PE ratio of 48.50 and a beta of 1.04. The stock’s fifty day simple moving average is $455.79 and its 200-day simple moving average is $381.34.

Fabrinet Company Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.