Fabrinet (NYSE:FN) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its position in shares of Fabrinet (NYSE:FN) by 150.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 35,047 shares of the technology company’s stock after buying an additional 21,050 shares during the period. The Manufacturers Life Insurance Company’s holdings in Fabrinet were worth $8,287,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Fabrinet during the second quarter worth about $28,000. Huntington National Bank grew its stake in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in Fabrinet during the 2nd quarter valued at approximately $35,000. Kimelman & Baird LLC purchased a new stake in Fabrinet during the 2nd quarter worth approximately $49,000. Finally, NBC Securities Inc. raised its position in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Up 0.6 %

Fabrinet stock opened at $235.35 on Wednesday. The company’s fifty day simple moving average is $244.14 and its 200-day simple moving average is $238.09. Fabrinet has a 12 month low of $159.69 and a 12 month high of $278.38. The stock has a market cap of $8.54 billion, a P/E ratio of 27.85 and a beta of 0.92.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. During the same period in the previous year, the company earned $1.78 EPS. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts expect that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Fabrinet

In other news, EVP Edward T. Archer sold 8,690 shares of Fabrinet 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 sale, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. The trade was a 51.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FN has been the subject of a number of research reports. Barclays started coverage on Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Rosenblatt Securities boosted 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. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Needham & Company LLC started coverage on Fabrinet in a report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $252.14.

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.