Fabrinet (NYSE:FN) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its holdings in shares of Fabrinet (NYSE:FN) by 14.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 480,550 shares of the technology company’s stock after buying an additional 61,491 shares during the period. Charles Schwab Investment Management Inc. owned about 1.32% of Fabrinet worth $113,621,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Fabrinet during the 2nd quarter valued at about $28,000. Huntington National Bank raised its stake in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of Fabrinet during the second quarter valued at approximately $35,000. Kimelman & Baird LLC purchased a new position in shares of Fabrinet in the second quarter valued at $49,000. Finally, NBC Securities Inc. grew its holdings in Fabrinet by 732.0% during 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. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was 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. This represents a 51.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price objective on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Barclays began coverage on Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price on the stock. Needham & Company LLC started coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target for the company. Finally, Rosenblatt Securities upped their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Fabrinet currently has a consensus rating of “Hold” and an average price target of $252.14.

Fabrinet Trading Down 0.8 %

FN stock opened at $228.63 on Tuesday. The stock’s 50 day simple moving average is $244.08 and its 200 day simple moving average is $237.99. Fabrinet has a 12-month low of $159.30 and a 12-month high of $278.38. The firm has a market cap of $8.29 billion, a P/E ratio of 27.06 and a beta of 0.95.

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