Qsemble Capital Management LP Has $304,000 Stake in Fabrinet (NYSE:FN)

Qsemble Capital Management LP trimmed its stake in shares of Fabrinet (NYSE:FN) by 59.3% during the third quarter, Holdings Channel.com reports. The firm owned 1,286 shares of the technology company’s stock after selling 1,874 shares during the period. Qsemble Capital Management LP’s holdings in Fabrinet were worth $304,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Bank of Montreal Can lifted its position in shares of Fabrinet by 61.6% during the third quarter. Bank of Montreal Can now owns 18,425 shares of the technology company’s stock worth $4,418,000 after purchasing an additional 7,025 shares in the last quarter. Truvestments Capital LLC lifted its holdings in Fabrinet by 6.5% in the third quarter. Truvestments Capital LLC now owns 2,347 shares of the technology company’s stock valued at $555,000 after buying an additional 143 shares during the period. DRW Securities LLC acquired a new position in Fabrinet in the third quarter valued at approximately $1,628,000. Harvest Fund Management Co. Ltd lifted its holdings in Fabrinet by 197.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 5,795 shares of the technology company’s stock valued at $1,371,000 after buying an additional 3,845 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Fabrinet in the third quarter valued at approximately $2,398,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Rosenblatt Securities increased their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their target price for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Needham & Company LLC assumed coverage on shares of Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price on the stock. Finally, Barclays assumed coverage on shares of Fabrinet in a report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $252.14.

Fabrinet Stock Down 4.1 %

Shares of FN stock opened at $225.85 on Thursday. The firm has a fifty day moving average of $244.11 and a 200-day moving average of $237.99. Fabrinet has a 12-month low of $159.30 and a 12-month high of $278.38. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 26.73 and a beta of 0.95.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.01. The company had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 earnings per share. On average, equities analysts expect that Fabrinet will post 9.1 EPS for the current year.

Insider Activity at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.38% of the stock is owned by insiders.

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 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.