Fabrinet (NYSE:FN) Holdings Lowered by XTX Topco Ltd

XTX Topco Ltd cut its stake in Fabrinet (NYSE:FN) by 76.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,437 shares of the technology company’s stock after selling 4,698 shares during the period. XTX Topco Ltd’s holdings in Fabrinet were worth $352,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FN. Evoke Wealth LLC bought a new position in Fabrinet during the 4th quarter valued at $3,135,000. Cim LLC acquired a new position in Fabrinet during the fourth quarter worth about $1,194,000. Norden Group LLC raised its position in Fabrinet by 1,775.2% in the first quarter. Norden Group LLC now owns 28,616 shares of the technology company’s stock worth $5,409,000 after acquiring an additional 27,090 shares in the last quarter. Pitcairn Co. acquired a new stake in Fabrinet in the 1st quarter valued at about $544,000. Finally, Franklin Resources Inc. acquired a new stake in Fabrinet in the 4th quarter valued at about $1,421,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of Fabrinet 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 sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the transaction, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction dated Friday, August 23rd. The shares were 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 owns 37,643 shares of the company’s stock, valued at $10,163,610. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,728 shares of company stock worth $11,645,062. 0.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Fabrinet Stock Up 4.3 %

Shares of Fabrinet stock opened at $237.33 on Friday. Fabrinet has a 12 month low of $149.19 and a 12 month high of $278.38. The stock has a market cap of $8.58 billion, a PE ratio of 31.52 and a beta of 0.96. The business has a fifty day simple moving average of $227.62 and a 200-day simple moving average of $219.47.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. The firm had revenue of $753.26 million during the quarter, compared to analyst estimates of $732.63 million. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $1.68 EPS. Analysts expect that Fabrinet will post 9.11 EPS for the current fiscal year.

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.