Benjamin Edwards Inc. Has $483,000 Position in Fabrinet (NYSE:FN)

Benjamin Edwards Inc. lessened its holdings in shares of Fabrinet (NYSE:FN) by 4.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,973 shares of the technology company’s stock after selling 87 shares during the quarter. Benjamin Edwards Inc.’s holdings in Fabrinet were worth $483,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Intech Investment Management LLC bought a new stake in shares of Fabrinet during the second quarter worth about $3,533,000. Inspire Investing LLC acquired a new position in Fabrinet during the 2nd quarter valued at about $492,000. First Eagle Investment Management LLC increased its holdings in Fabrinet by 111.7% during the 2nd quarter. First Eagle Investment Management LLC now owns 49,104 shares of the technology company’s stock worth $12,020,000 after purchasing an additional 25,912 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Fabrinet by 6.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 2,819 shares of the technology company’s stock worth $690,000 after purchasing an additional 159 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of Fabrinet by 1.4% in the second quarter. Mutual of America Capital Management LLC now owns 30,814 shares of the technology company’s stock valued at $7,543,000 after purchasing an additional 429 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 business’s 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 sale, the chief executive officer now directly owns 37,643 shares in the company, valued at $10,163,610. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the completion of the transaction, the chief financial officer now owns 19,347 shares in the company, valued at $5,223,690. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 37,643 shares in the company, valued at approximately $10,163,610. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,728 shares of company stock valued at $11,645,062. Company insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FN shares. Jefferies Financial Group assumed coverage on Fabrinet in a report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of 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 shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. B. Riley boosted 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. Finally, Needham & Company LLC upped their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Fabrinet has a consensus rating of “Hold” and an average target price of $219.00.

Fabrinet Stock Performance

FN opened at $231.53 on Friday. Fabrinet has a fifty-two week low of $149.19 and a fifty-two week high of $278.38. The firm has a 50-day moving average of $229.29 and a 200 day moving average of $219.26. The firm has a market cap of $8.37 billion, a P/E ratio of 30.75 and a beta of 0.96.

Fabrinet (NYSE:FN) last released its 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. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The firm had revenue of $753.26 million for the quarter, compared to analysts’ expectations of $732.63 million. During the same period in the previous year, the company earned $1.68 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts predict that Fabrinet will post 9.11 earnings per share for the current fiscal 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.