Centiva Capital LP Has $2.02 Million Position in Fabrinet (NYSE:FN)

Centiva Capital LP boosted its holdings in Fabrinet (NYSE:FN) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,536 shares of the technology company’s stock after purchasing an additional 1,023 shares during the quarter. Centiva Capital LP’s holdings in Fabrinet were worth $2,018,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Opal Wealth Advisors LLC bought a new position in Fabrinet during the 2nd quarter valued at $28,000. Huntington National Bank lifted its stake in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after acquiring an additional 57 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Fabrinet during the 2nd quarter valued at $35,000. Kimelman & Baird LLC bought a new position in Fabrinet during the 2nd quarter valued at $49,000. Finally, NBC Securities Inc. lifted its stake 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 acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Buying and Selling at Fabrinet

In other news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The trade was a 51.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.38% of the company’s stock.

Fabrinet Stock Performance

Shares of FN opened at $233.98 on Tuesday. The firm has a market cap of $8.49 billion, a P/E ratio of 27.69 and a beta of 0.92. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $278.38. The business has a 50-day moving average of $244.05 and a 200 day moving average of $238.06.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. The business had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 EPS. As a group, research analysts predict that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on FN shares. Rosenblatt Securities raised their price objective on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price objective on the stock. Barclays initiated coverage on Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 target price on the stock. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lifted their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note 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 given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $252.14.

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.