Hantz Financial Services Inc. Buys Shares of 47,428 Fabrinet (NYSE:FN)

Hantz Financial Services Inc. acquired a new stake in Fabrinet (NYSE:FN) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,428 shares of the technology company’s stock, valued at approximately $11,610,000. Hantz Financial Services Inc. owned about 0.13% of Fabrinet as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FN. California Public Employees Retirement System raised its stake in shares of Fabrinet by 3.1% in the 4th quarter. California Public Employees Retirement System now owns 60,275 shares of the technology company’s stock valued at $11,472,000 after acquiring an additional 1,805 shares during the period. GAMMA Investing LLC acquired a new position in Fabrinet during the fourth quarter worth $34,000. Atria Wealth Solutions Inc. purchased a new position in shares of Fabrinet during the fourth quarter worth $476,000. Truist Financial Corp grew its stake in shares of Fabrinet by 178.9% in the fourth quarter. Truist Financial Corp now owns 5,463 shares of the technology company’s stock valued at $1,040,000 after buying an additional 3,504 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of Fabrinet by 36.6% in the 4th quarter. Van ECK Associates Corp now owns 10,472 shares of the technology company’s stock valued at $1,993,000 after buying an additional 2,804 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FN. JPMorgan Chase & Co. raised their target price on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Fabrinet in a report on Wednesday, June 26th. They set a “hold” rating and a $230.00 target price on the stock. B. Riley boosted their price target 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. Needham & Company LLC increased their price objective on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities boosted their target price on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $219.00.

Insider Activity at Fabrinet

In other news, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.00, for a total transaction of $27,000.00. Following the sale, the chief financial officer now owns 19,347 shares in the company, valued at $5,223,690. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at $5,223,690. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Seamus Grady sold 26,650 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the completion of the sale, the chief executive officer now owns 37,643 shares of the company’s stock, valued at approximately $10,163,610. The disclosure for this sale can be found here. Insiders sold a total of 36,038 shares of company stock valued at $9,731,003 over the last ninety days. Insiders own 0.51% of the company’s stock.

Fabrinet Stock Performance

Shares of NYSE FN opened at $243.65 on Friday. The stock’s 50-day simple moving average is $234.96 and its 200-day simple moving average is $216.93. The firm has a market capitalization of $8.81 billion, a PE ratio of 32.36 and a beta of 0.96. Fabrinet has a fifty-two week low of $146.65 and a fifty-two week high of $278.38.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. The company had revenue of $753.26 million for the quarter, compared to analysts’ expectations of $732.63 million. During the same quarter last year, the company earned $1.68 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts forecast that Fabrinet will post 7.95 earnings per share for the current fiscal year.

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.