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

Qsemble Capital Management LP decreased its stake in Fabrinet (NYSE:FN) by 59.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,286 shares of the technology company’s stock after selling 1,874 shares during the quarter. Qsemble Capital Management LP’s holdings in Fabrinet were worth $304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FN. Driehaus Capital Management LLC raised its holdings in shares of Fabrinet by 183.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock valued at $68,046,000 after purchasing an additional 179,943 shares in the last quarter. Clearbridge Investments LLC bought a new position in Fabrinet in the 2nd quarter worth $27,911,000. DekaBank Deutsche Girozentrale raised its holdings in Fabrinet by 3,831.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock worth $19,465,000 after acquiring an additional 80,000 shares during the period. Rice Hall James & Associates LLC raised its holdings in Fabrinet by 89.1% in the 2nd quarter. Rice Hall James & Associates LLC now owns 134,519 shares of the technology company’s stock worth $32,929,000 after acquiring an additional 63,398 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Fabrinet by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock worth $113,621,000 after acquiring an additional 61,491 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of Fabrinet stock opened at $225.85 on Thursday. The firm’s 50-day simple moving average is $244.11 and its 200-day simple moving average is $237.99. Fabrinet has a twelve month low of $159.30 and a twelve month high of $278.38. The firm has a market cap of $8.19 billion, a P/E ratio of 26.73 and a beta of 0.95.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on FN. JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. B. Riley lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC began coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target on the stock. Rosenblatt Securities raised their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Barclays began coverage on shares of Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Fabrinet presently has an average rating of “Hold” and an average target price of $252.14.

Insiders Place Their Bets

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the sale, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This represents a 51.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.38% of the company’s stock.

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.