Texas Permanent School Fund Purchases 1,166 Shares of Fabrinet (FN)

Texas Permanent School Fund grew its stake in Fabrinet (NYSE:FN) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,103 shares of the technology company’s stock after acquiring an additional 1,166 shares during the period. Texas Permanent School Fund owned 0.07% of Fabrinet worth $1,237,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nkcfo LLC bought a new position in shares of Fabrinet in the 4th quarter valued at about $30,000. Quantbot Technologies LP bought a new position in shares of Fabrinet in the 3rd quarter valued at about $110,000. BlueMountain Capital Management LLC bought a new position in shares of Fabrinet in the 3rd quarter valued at about $111,000. Csenge Advisory Group bought a new position in shares of Fabrinet in the 3rd quarter valued at about $117,000. Finally, Acadian Asset Management LLC bought a new position in shares of Fabrinet in the 4th quarter valued at about $118,000. Institutional investors own 95.97% of the company’s stock.

In other news, Director Thomas F. Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $54.79, for a total transaction of $164,370.00. Following the completion of the sale, the director now owns 41,323 shares in the company, valued at $2,264,087.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Toh-Seng Ng sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $54.43, for a total value of $544,300.00. Following the sale, the chief financial officer now owns 80,266 shares of the company’s stock, valued at approximately $4,368,878.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,518 shares of company stock valued at $5,703,054. Corporate insiders own 1.90% of the company’s stock.



Several brokerages have recently weighed in on FN. Piper Jaffray Companies raised their price objective on Fabrinet from $56.00 to $61.00 and gave the company an “overweight” rating in a report on Thursday, January 24th. Needham & Company LLC reiterated a “buy” rating and set a $62.00 price target (up previously from $58.00) on shares of Fabrinet in a report on Tuesday, December 18th. Finally, Zacks Investment Research cut Fabrinet from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a report on Thursday, January 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Fabrinet has a consensus rating of “Buy” and an average price target of $53.17.

Fabrinet stock traded up $0.45 during midday trading on Friday, reaching $55.57. 9,870 shares of the company’s stock were exchanged, compared to its average volume of 367,477. Fabrinet has a 52 week low of $27.69 and a 52 week high of $59.94. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.26 and a current ratio of 3.19. The stock has a market capitalization of $2.03 billion, a P/E ratio of 18.65, a PEG ratio of 1.33 and a beta of 0.60.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 4th. The technology company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. Fabrinet had a return on equity of 14.91% and a net margin of 7.08%. The company had revenue of $403.10 million during the quarter, compared to analysts’ expectations of $386.22 million. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s revenue was up 19.6% on a year-over-year basis. Research analysts forecast that Fabrinet will post 3.22 earnings per share for the current year.

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About Fabrinet

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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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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