Portside Wealth Group LLC Sells 105 Shares of Fabrinet (NYSE:FN)

Portside Wealth Group LLC decreased its stake in shares of Fabrinet (NYSE:FN) by 6.9% during the third quarter, Holdings Channel reports. The firm owned 1,425 shares of the technology company’s stock after selling 105 shares during the quarter. Portside Wealth Group LLC’s holdings in Fabrinet were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC boosted its stake in shares of Fabrinet by 3.2% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after buying an additional 43 shares during the last quarter. Wolff Wiese Magana LLC boosted its position in Fabrinet by 2.7% in the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after purchasing an additional 47 shares during the last quarter. Trust Point Inc. grew its stake in shares of Fabrinet by 4.7% during the 3rd quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock valued at $301,000 after purchasing an additional 57 shares during the period. Cim LLC increased its position in shares of Fabrinet by 1.0% during the 2nd quarter. Cim LLC now owns 5,980 shares of the technology company’s stock valued at $1,344,000 after purchasing an additional 61 shares during the last quarter. Finally, Ausbil Investment Management Ltd increased its position in shares of Fabrinet by 0.5% during the 3rd quarter. Ausbil Investment Management Ltd now owns 14,741 shares of the technology company’s stock valued at $3,485,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction on 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the firm’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 transaction of $1,914,059.40. Following the completion of the transaction, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 37,643 shares in the company, valued at approximately $10,163,610. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock worth $11,645,062 in the last three months. 0.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FN. Rosenblatt Securities boosted their target price 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 initiated coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price objective for the company. B. Riley decreased their target price on Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. boosted their price target on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $248.17.

Fabrinet Price Performance

Shares of NYSE FN opened at $271.08 on Friday. Fabrinet has a 1 year low of $159.30 and a 1 year high of $278.38. The firm has a fifty day moving average price of $239.49 and a 200-day moving average price of $232.77. The stock has a market cap of $9.83 billion, a PE ratio of 32.08 and a beta of 0.95.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The business had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. During the same period last year, the firm earned $1.78 earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, research analysts expect that Fabrinet will post 9.11 EPS for the current year.

Fabrinet Company 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.