Cetera Investment Advisers Purchases 3,254 Shares of Fabrinet (NYSE:FN)

Cetera Investment Advisers increased its position in shares of Fabrinet (NYSE:FN) by 41.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,166 shares of the technology company’s stock after purchasing an additional 3,254 shares during the period. Cetera Investment Advisers’ holdings in Fabrinet were worth $2,733,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FN. Opal Wealth Advisors LLC bought a new stake in Fabrinet in the 2nd quarter valued at $28,000. Banque Cantonale Vaudoise bought a new stake in Fabrinet in the 2nd quarter valued at $35,000. Kimelman & Baird LLC bought a new stake in Fabrinet in the 2nd quarter valued at $49,000. GAMMA Investing LLC increased its holdings in Fabrinet by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after acquiring an additional 109 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Fabrinet in the 1st quarter valued at $63,000. 97.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 37,643 shares in the company, valued at approximately $10,163,610. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the transaction, the chief financial officer now owns 19,768 shares in the company, valued at $5,338,941.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Seamus Grady sold 26,650 shares of the business’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 transaction 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,728 shares of company stock worth $11,645,062. 0.51% of the stock is currently owned by corporate insiders.

Fabrinet Trading Up 4.1 %

FN stock opened at $263.59 on Friday. Fabrinet has a 12 month low of $149.19 and a 12 month high of $278.38. The company has a 50-day moving average price of $230.79 and a 200 day moving average price of $222.51. The stock has a market cap of $9.53 billion, a PE ratio of 35.01 and a beta of 0.95.

Fabrinet (NYSE:FN) last released its quarterly earnings data 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. The company had revenue of $753.26 million during 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%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 EPS. Sell-side analysts forecast that Fabrinet will post 9.11 EPS for the current year.

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.