Fabrinet (NYSE:FN) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its position in Fabrinet (NYSE:FN) by 44.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 10,433 shares of the technology company’s stock after acquiring an additional 3,227 shares during the period. Harbor Capital Advisors Inc.’s holdings in Fabrinet were worth $2,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of Fabrinet in the 3rd quarter valued at $567,000. Pitcairn Co. acquired a new stake in Fabrinet during the 1st quarter worth about $544,000. Seven Eight Capital LP acquired a new stake in Fabrinet during the 1st quarter worth about $1,588,000. DekaBank Deutsche Girozentrale raised its stake in shares of Fabrinet by 27.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 79,088 shares of the technology company’s stock valued at $15,036,000 after buying an additional 17,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Fabrinet by 19.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 67,823 shares of the technology company’s stock valued at $12,820,000 after buying an additional 11,035 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Analysts Set New Price Targets

FN has been the topic of several analyst reports. Rosenblatt Securities raised 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. B. Riley raised their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective 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. 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 note on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $248.50.

Fabrinet Trading Down 1.2 %

FN stock opened at $239.61 on Tuesday. The business’s 50-day moving average is $238.82 and its 200 day moving average is $231.22. Fabrinet has a 12-month low of $157.55 and a 12-month high of $278.38. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 29.58 and a beta of 0.95.

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

Insider Buying and Selling at Fabrinet

In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the sale, the chief financial officer now directly owns 19,768 shares in the company, valued at $5,338,941.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Seamus Grady sold 26,650 shares of the company’s stock in a transaction dated 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 $10,163,610. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Csaba Sverha sold 9,288 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total value of $2,508,503.04. Following the completion of the sale, the chief financial officer now directly owns 19,768 shares of the company’s stock, valued at $5,338,941.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock valued at $11,645,062 over the last 90 days. 0.38% of the stock is owned by insiders.

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.