Fabrinet (NYSE:FN) Stock Holdings Lifted by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in Fabrinet (NYSE:FN) by 76.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,535 shares of the technology company’s stock after acquiring an additional 11,102 shares during the quarter. Intech Investment Management LLC’s holdings in Fabrinet were worth $6,037,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FN. Opal Wealth Advisors LLC acquired a new stake in Fabrinet during the 2nd quarter worth about $28,000. Huntington National Bank boosted its holdings in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the period. Banque Cantonale Vaudoise purchased a new position in Fabrinet during the second quarter valued at approximately $35,000. Kimelman & Baird LLC acquired a new position in Fabrinet in the 2nd quarter valued at approximately $49,000. Finally, NBC Securities Inc. lifted its position in Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after buying an additional 183 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Performance

Shares of NYSE FN opened at $230.50 on Friday. The business’s 50-day simple moving average is $243.99 and its 200-day simple moving average is $237.24. Fabrinet has a 52 week low of $159.30 and a 52 week high of $278.38. The firm has a market cap of $8.36 billion, a price-to-earnings ratio of 27.28 and a beta of 0.95.

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

Wall Street Analyst Weigh In

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

Insider Activity at Fabrinet

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the sale, the chief financial officer now owns 19,347 shares of the company’s stock, valued at $5,223,690. This trade represents a 0.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company 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.