Fabrinet (NYSE:FN) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its holdings in shares of Fabrinet (NYSE:FN) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,746 shares of the technology company’s stock after acquiring an additional 148 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Fabrinet were worth $917,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FN. Opal Wealth Advisors LLC acquired a new stake in Fabrinet during the second quarter worth $28,000. Parallel Advisors LLC boosted its position in shares of Fabrinet by 59.7% during the fourth 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 period. GAMMA Investing LLC boosted its position in shares of Fabrinet by 60.6% during the first 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 period. UMB Bank n.a. purchased a new position in shares of Fabrinet during the first quarter worth $57,000. Finally, Headlands Technologies LLC purchased a new position in shares of Fabrinet during the first quarter worth $63,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Up 3.1 %

Shares of FN stock opened at $231.01 on Wednesday. The stock has a market capitalization of $8.35 billion, a PE ratio of 30.68 and a beta of 0.96. Fabrinet has a 52-week low of $148.97 and a 52-week high of $278.38. The stock’s 50-day moving average price is $230.18 and its 200 day moving average price is $219.02.

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

Analyst Ratings Changes

Several research analysts have recently commented on FN shares. B. Riley raised their price target on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC lifted their target price on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Fabrinet in a report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Rosenblatt Securities lifted their target price on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Fabrinet has a consensus rating of “Hold” and an average target price of $219.00.

Insider Buying and Selling at Fabrinet

In other news, CFO Csaba Sverha sold 100 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.00, for a total transaction of $27,000.00. Following the sale, the chief financial officer now owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Csaba Sverha sold 100 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,728 shares of company stock valued at $11,645,062. 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.