Man Group plc Has $5.14 Million Stock Holdings in Fabrinet (NYSE:FN)

Man Group plc decreased its stake in Fabrinet (NYSE:FN) by 78.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,354 shares of the technology company’s stock after selling 82,985 shares during the period. Man Group plc owned about 0.06% of Fabrinet worth $5,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Assetmark Inc. grew its holdings in Fabrinet by 12.0% in the fourth quarter. Assetmark Inc. now owns 484 shares of the technology company’s stock worth $106,000 after purchasing an additional 52 shares during the period. CIBC Asset Management Inc grew its holdings in Fabrinet by 5.7% in the fourth quarter. CIBC Asset Management Inc now owns 1,113 shares of the technology company’s stock worth $245,000 after purchasing an additional 60 shares during the period. Nations Financial Group Inc. IA ADV grew its holdings in Fabrinet by 2.4% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 2,941 shares of the technology company’s stock worth $647,000 after purchasing an additional 68 shares during the period. Janney Montgomery Scott LLC grew its holdings in Fabrinet by 2.6% in the fourth quarter. Janney Montgomery Scott LLC now owns 3,279 shares of the technology company’s stock worth $721,000 after purchasing an additional 82 shares during the period. Finally, Transamerica Financial Advisors Inc. grew its holdings in Fabrinet by 17.2% in the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company’s stock worth $125,000 after purchasing an additional 83 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

FN stock opened at $227.72 on Wednesday. Fabrinet has a one year low of $148.55 and a one year high of $281.79. The stock has a market cap of $8.16 billion, a PE ratio of 25.47 and a beta of 0.95. The firm has a 50 day simple moving average of $203.62 and a two-hundred day simple moving average of $218.90.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.47 by $0.05. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The company had revenue of $871.80 million during the quarter, compared to analysts’ expectations of $857.12 million. During the same quarter in the prior year, the company earned $2.39 EPS. The firm’s revenue was up 19.2% on a year-over-year basis. On average, research analysts expect that Fabrinet will post 9.4 EPS for the current fiscal year.

Analyst Ratings Changes

FN has been the subject of a number of analyst reports. Fox Advisors initiated coverage on shares of Fabrinet in a report on Tuesday, February 18th. They set an “overweight” rating and a $270.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 6th. Rosenblatt Securities lifted their price objective on shares of Fabrinet from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. B. Riley raised shares of Fabrinet from a “sell” rating to a “neutral” rating and lowered their price target for the company from $178.00 to $176.00 in a research report on Friday, April 4th. Finally, Barclays set a $234.00 price target on shares of Fabrinet and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and an average target price of $239.29.

Insider Activity at Fabrinet

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the transaction, the director now directly owns 23,201 shares in the company, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.

Fabrinet Profile

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.