Fabrinet (NYSE:FN) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in shares of Fabrinet (NYSE:FN) by 17.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,823 shares of the technology company’s stock after purchasing an additional 2,527 shares during the period. Van ECK Associates Corp’s holdings in Fabrinet were worth $4,118,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FN. First Eagle Investment Management LLC lifted its position in shares of Fabrinet by 0.8% in the 4th quarter. First Eagle Investment Management LLC now owns 7,508 shares of the technology company’s stock worth $1,429,000 after buying an additional 60 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after buying an additional 77 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Fabrinet by 1.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,117 shares of the technology company’s stock worth $1,164,000 after buying an additional 96 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Fabrinet by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 29,950 shares of the technology company’s stock worth $5,661,000 after buying an additional 100 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Fabrinet by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock worth $55,000 after buying an additional 109 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FN. Needham & Company LLC lifted their price objective 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. Rosenblatt Securities lifted 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. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price objective on the stock. Finally, B. Riley lifted their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $219.00.

Insider Transactions at Fabrinet

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

Fabrinet Trading Up 2.0 %

Fabrinet stock opened at $225.17 on Thursday. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 29.90 and a beta of 0.96. The company’s 50-day moving average price is $234.22 and its two-hundred day moving average price is $217.71. 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, beating the consensus estimate 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 net margin of 10.27% and a return on equity of 18.10%. Fabrinet’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $1.68 EPS. Research analysts expect that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Fabrinet Company 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.