NBC Securities Inc. Acquires 183 Shares of Fabrinet (NYSE:FN)

NBC Securities Inc. boosted its stake in shares of Fabrinet (NYSE:FN) by 732.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 208 shares of the technology company’s stock after acquiring an additional 183 shares during the quarter. NBC Securities Inc.’s holdings in Fabrinet were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norden Group LLC grew its position in shares of Fabrinet by 1,775.2% during the 1st quarter. Norden Group LLC now owns 28,616 shares of the technology company’s stock worth $5,409,000 after buying an additional 27,090 shares during the period. Pitcairn Co. acquired a new position in shares of Fabrinet during the 1st quarter worth approximately $544,000. Seven Eight Capital LP acquired a new position in Fabrinet during the first quarter worth $1,588,000. DekaBank Deutsche Girozentrale increased its stake in shares of Fabrinet by 27.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 79,088 shares of the technology company’s stock worth $15,036,000 after purchasing an additional 17,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Fabrinet by 19.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 67,823 shares of the technology company’s stock worth $12,820,000 after buying an additional 11,035 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Activity

In other news, CEO Seamus Grady sold 26,650 shares of the firm’s stock in a transaction dated 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 in the company, valued at $10,163,610. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Seamus Grady sold 26,650 shares of Fabrinet 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 completion of the transaction, the chief executive officer now directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $27,000.00. Following the sale, the chief financial officer now directly owns 19,347 shares of the company’s stock, valued at $5,223,690. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock worth $11,645,062 in the last quarter. 0.51% of the stock is owned by corporate insiders.

Fabrinet Trading Down 8.9 %

Shares of FN opened at $243.02 on Monday. The stock’s 50-day moving average price is $237.83 and its two-hundred day moving average price is $225.95. Fabrinet has a 12 month low of $149.19 and a 12 month high of $278.38. The company has a market capitalization of $8.78 billion, a PE ratio of 32.27 and a beta of 0.95.

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

Analysts Set New Price Targets

FN has been the topic of several research analyst reports. Rosenblatt Securities increased 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 lifted their price objective on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. B. Riley upped their price target on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their target price 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. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $219.00.

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.