Fabrinet (NYSE:FN) Shares Purchased by UMB Bank n.a.

UMB Bank n.a. boosted its holdings in Fabrinet (NYSE:FN) by 252.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240 shares of the technology company’s stock after purchasing an additional 172 shares during the quarter. UMB Bank n.a.’s holdings in Fabrinet were worth $57,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Fabrinet in the second quarter worth about $28,000. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet in the 2nd quarter valued at about $35,000. Kimelman & Baird LLC acquired a new position in shares of Fabrinet in the 2nd quarter valued at about $49,000. GAMMA Investing LLC increased its holdings in shares of 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 purchasing an additional 109 shares during the period. Finally, Headlands Technologies LLC bought a new stake in shares of Fabrinet in the 1st quarter valued at approximately $63,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Trading Up 0.5 %

Shares of FN opened at $264.93 on Tuesday. Fabrinet has a 1 year low of $149.19 and a 1 year high of $278.38. The stock has a market cap of $9.58 billion, a P/E ratio of 35.18 and a beta of 0.95. The stock’s 50-day moving average price is $233.37 and its two-hundred day moving average price is $224.02.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (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 revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.68 earnings per share. As a group, equities analysts forecast that Fabrinet will post 9.11 EPS for the current year.

Insider Transactions at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 37,643 shares in the company, valued at $10,163,610. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Seamus Grady sold 26,650 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at approximately $10,163,610. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward T. Archer sold 8,690 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,728 shares of company stock valued at $11,645,062 over the last 90 days. 0.51% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.