US Bancorp DE Has $3 Million Stock Position in Fabrinet (NYSE:FN)

US Bancorp DE decreased its position in Fabrinet (NYSE:FN) by 6.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,676 shares of the technology company’s stock after selling 931 shares during the period. US Bancorp DE’s holdings in Fabrinet were worth $2,997,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in Fabrinet in the 2nd quarter valued at approximately $28,000. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet in the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC acquired a new position in shares of Fabrinet in the 2nd quarter worth approximately $49,000. NBC Securities Inc. raised its holdings in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after buying an additional 183 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in shares of Fabrinet by 252.9% in the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 37,643 shares in the company, valued at approximately $10,163,610. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 37,643 shares in the company, valued at approximately $10,163,610. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Csaba Sverha sold 9,288 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,728 shares of company stock worth $11,645,062. Insiders own 0.38% of the company’s stock.

Fabrinet Price Performance

FN stock opened at $230.55 on Wednesday. The business has a fifty day moving average price of $238.50 and a 200 day moving average price of $231.70. Fabrinet has a fifty-two week low of $157.55 and a fifty-two week high of $278.38. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 28.46 and a beta of 0.95.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.35. The firm had revenue of $753.26 million during 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 business’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm posted $1.68 EPS. On average, equities analysts expect that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FN. B. Riley dropped their target price on Fabrinet from $196.00 to $194.00 and set a “neutral” rating for the company in a report on Tuesday. JPMorgan Chase & Co. increased their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Rosenblatt Securities increased their target price on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC initiated coverage on Fabrinet in a report on Tuesday. They issued a “buy” rating and a $280.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Fabrinet has an average rating of “Moderate Buy” and an average price target of $248.17.

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.