Fabrinet (NYSE:FN) Stock Position Lifted by Versor Investments LP

Versor Investments LP grew its position in Fabrinet (NYSE:FN) by 118.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,374 shares of the technology company’s stock after acquiring an additional 3,996 shares during the quarter. Versor Investments LP’s holdings in Fabrinet were worth $1,744,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Wealth Asset Management LLC increased its position in Fabrinet by 3.2% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after buying an additional 43 shares during the period. Wolff Wiese Magana LLC grew its position in shares of Fabrinet by 2.7% during the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after acquiring an additional 47 shares during the last quarter. Trust Point Inc. increased its holdings in shares of Fabrinet by 4.7% in the 3rd quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock worth $301,000 after acquiring an additional 57 shares during the period. Cim LLC lifted its position in Fabrinet by 1.0% in the 2nd quarter. Cim LLC now owns 5,980 shares of the technology company’s stock valued at $1,344,000 after purchasing an additional 61 shares during the last quarter. Finally, Ausbil Investment Management Ltd lifted its position in Fabrinet by 0.5% in the 3rd quarter. Ausbil Investment Management Ltd now owns 14,741 shares of the technology company’s stock valued at $3,485,000 after purchasing an additional 76 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Trading Up 1.2 %

FN stock traded up $3.26 during trading hours on Monday, hitting $274.34. 38,280 shares of the stock traded hands, compared to its average volume of 489,628. The stock has a 50-day simple moving average of $239.49 and a 200 day simple moving average of $233.21. Fabrinet has a one year low of $159.30 and a one year high of $278.38. The company has a market cap of $9.95 billion, a P/E ratio of 32.08 and a beta of 0.95.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the company posted $1.78 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. Analysts forecast that Fabrinet will post 9.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Rosenblatt Securities increased their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. increased their price target on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. B. Riley cut their price objective on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Finally, Needham & Company LLC began coverage on shares of Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.17.

Insider Buying and Selling

In other Fabrinet 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 sale, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were 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 of the company’s stock, valued at $1,835,426.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at approximately $10,163,610. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock worth $11,645,062 in the last three months. 0.38% of the stock is currently owned by insiders.

Fabrinet Company 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.