Sei Investments Co. Has $23.66 Million Position in Fabrinet (NYSE:FN)

Sei Investments Co. lessened its stake in Fabrinet (NYSE:FN) by 0.2% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 96,636 shares of the technology company’s stock after selling 223 shares during the quarter. Sei Investments Co.’s holdings in Fabrinet were worth $23,655,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FN. Congress Asset Management Co. MA acquired a new position in shares of Fabrinet in the fourth quarter worth $99,045,000. TD Asset Management Inc raised its stake in shares of Fabrinet by 216.1% during the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after purchasing an additional 280,145 shares in the last quarter. Epoch Investment Partners Inc. lifted its holdings in shares of Fabrinet by 291.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock valued at $52,081,000 after buying an additional 205,057 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in shares of Fabrinet in the 1st quarter valued at approximately $15,637,000. Finally, Rice Hall James & Associates LLC increased its holdings in Fabrinet by 89.1% in the second quarter. Rice Hall James & Associates LLC now owns 134,519 shares of the technology company’s stock worth $32,929,000 after buying an additional 63,398 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Csaba Sverha sold 100 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the transaction, the chief financial officer now owns 19,347 shares in the company, valued at $5,223,690. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,728 shares of company stock valued at $11,645,062. 0.51% of the stock is owned by company insiders.

Fabrinet Price Performance

FN stock opened at $230.96 on Wednesday. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of 30.67 and a beta of 0.96. The company has a 50-day moving average of $228.13 and a two-hundred day moving average of $219.41. Fabrinet has a 52-week low of $149.19 and a 52-week high of $278.38.

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

Analyst Ratings Changes

A number of analysts have issued reports on FN shares. B. Riley lifted their target price on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Needham & Company LLC lifted their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price 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 target on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on Fabrinet in a report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Fabrinet has a consensus rating of “Hold” and an average price target of $219.00.

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.