Fabrinet (NYSE:FN) Stock Holdings Increased by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust boosted its stake in shares of Fabrinet (NYSE:FN) by 293.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 40,553 shares of the technology company’s stock after purchasing an additional 30,241 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Fabrinet were worth $9,927,000 at the end of the most recent reporting period.

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

Insider Activity

In related news, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the sale, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at $10,163,610. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Seamus Grady sold 26,650 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at $10,163,610. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction 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 owns 8,333 shares in the company, valued at approximately $1,835,426.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,728 shares of company stock valued at $11,645,062. Insiders own 0.51% of the company’s stock.

Fabrinet Stock Down 6.3 %

FN opened at $210.74 on Friday. The stock’s 50 day moving average price is $233.10 and its two-hundred day moving average price is $218.10. The firm has a market capitalization of $7.62 billion, a P/E ratio of 27.99 and a beta of 0.96. Fabrinet has a 12-month low of $146.65 and a 12-month high of $278.38.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on FN. B. Riley lifted their price objective 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. Jefferies Financial Group began coverage on Fabrinet in a research report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target for the company. JPMorgan Chase & Co. increased their price objective on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Rosenblatt Securities boosted their target price on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC upped their target price on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $219.00.

About Fabrinet

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.