Banque Cantonale Vaudoise Purchases Shares of 145 Fabrinet (NYSE:FN)

Banque Cantonale Vaudoise acquired a new stake in Fabrinet (NYSE:FN) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 145 shares of the technology company’s stock, valued at approximately $35,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Congress Asset Management Co. MA bought a new stake in shares of Fabrinet in the fourth quarter worth about $99,045,000. TD Asset Management Inc grew its position in shares of Fabrinet by 216.1% in the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after buying an additional 280,145 shares during the last quarter. Epoch Investment Partners Inc. increased its stake in shares of Fabrinet by 291.0% during the first quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock valued at $52,081,000 after buying an additional 205,057 shares during the period. Kennedy Capital Management LLC bought a new position in shares of Fabrinet during the first quarter valued at approximately $15,637,000. Finally, Congress Wealth Management LLC DE purchased a new stake in Fabrinet in the fourth quarter worth $10,936,000. 97.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FN shares. Rosenblatt Securities boosted their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Needham & Company LLC boosted their price target on shares of Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. B. Riley raised their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. upped their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group began coverage on Fabrinet in a research note on Wednesday, June 26th. They issued a “hold” rating and a $230.00 target price for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $219.00.

Fabrinet Stock Down 9.4 %

Shares of FN opened at $220.85 on Wednesday. The stock has a market cap of $7.98 billion, a P/E ratio of 29.33 and a beta of 0.96. The business’s 50 day moving average price is $235.07 and its 200-day moving average price is $217.49. Fabrinet has a 52 week low of $146.65 and a 52 week high of $278.38.

Fabrinet (NYSE:FN) last released its earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. The firm had revenue of $753.26 million for the quarter, compared to analysts’ expectations of $732.63 million. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.68 earnings per share. On average, equities analysts anticipate that Fabrinet will post 9.11 EPS for the current year.

Insider Buying and Selling at Fabrinet

In related news, CEO Seamus Grady sold 26,650 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total value of $7,195,500.00. Following the transaction, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at approximately $10,163,610. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Csaba Sverha sold 100 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the transaction, the chief financial officer now owns 19,347 shares in the company, valued at $5,223,690. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total value of $7,195,500.00. Following the completion of the sale, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at approximately $10,163,610. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,038 shares of company stock worth $9,731,003. 0.51% of the stock is owned by corporate 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.