KBC Group NV Has $242,000 Position in Fabrinet (NYSE:FN)

KBC Group NV increased its stake in shares of Fabrinet (NYSE:FN) by 12.2% in the third quarter, Holdings Channel.com reports. The firm owned 1,022 shares of the technology company’s stock after buying an additional 111 shares during the quarter. KBC Group NV’s holdings in Fabrinet were worth $242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet during the second quarter valued at about $28,000. Banque Cantonale Vaudoise bought a new stake in Fabrinet during the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC acquired a new position in Fabrinet in the 2nd quarter valued at approximately $49,000. NBC Securities Inc. raised its stake in shares of Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after acquiring an additional 183 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Fabrinet by 252.9% during the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after purchasing an additional 172 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

FN stock opened at $248.82 on Wednesday. Fabrinet has a 1 year low of $159.30 and a 1 year high of $278.38. The stock has a market capitalization of $9.02 billion, a PE ratio of 29.45 and a beta of 0.95. The company’s 50-day moving average is $242.80 and its 200-day moving average is $236.88.

Fabrinet (NYSE:FN) last announced its quarterly earnings data 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 firm had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. During the same quarter last year, the firm posted $1.78 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, analysts anticipate that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FN. Barclays started coverage on Fabrinet in a report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price objective for the company. Needham & Company LLC began coverage on Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective on the stock. 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 report on Tuesday, August 20th. Rosenblatt Securities upped their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, B. Riley dropped their target price on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $254.43.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction dated Monday, August 26th. The stock was 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 approximately $5,223,690. The trade was a 0.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Seamus Grady sold 26,650 shares of the 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 of the company’s stock, valued at approximately $10,163,610. This trade represents a 41.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,728 shares of company stock worth $11,645,062. 0.38% of the stock is owned by corporate insiders.

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.