Dimensional Fund Advisors LP increased its position in shares of Fabrinet (NYSE:FN) by 5.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,064,635 shares of the company’s stock after buying an additional 102,747 shares during the period. Dimensional Fund Advisors LP owned about 5.73% of Fabrinet worth $76,639,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Friess Associates LLC acquired a new position in shares of Fabrinet during the first quarter valued at approximately $4,594,000. Goldman Sachs Group Inc. acquired a new position in shares of Fabrinet during the first quarter valued at approximately $1,061,000. Riverhead Capital Management LLC acquired a new position in shares of Fabrinet during the first quarter valued at approximately $148,000. Quadrature Capital Ltd acquired a new position in shares of Fabrinet during the first quarter valued at approximately $656,000. Finally, UBS Asset Management Americas Inc. raised its position in shares of Fabrinet by 251.8% in the first quarter. UBS Asset Management Americas Inc. now owns 129,800 shares of the company’s stock valued at $4,199,000 after buying an additional 92,900 shares during the last quarter. 90.88% of the stock is owned by institutional investors and hedge funds.
Shares of Fabrinet (NYSE:FN) traded down 0.16% during mid-day trading on Monday, reaching $44.10. The company’s stock had a trading volume of 67,594 shares. Fabrinet has a 52-week low of $17.88 and a 52-week high of $45.01. The company has a 50-day moving average price of $40.57 and a 200 day moving average price of $35.71. The company has a market cap of $1.60 billion, a PE ratio of 26.25 and a beta of 0.48.
Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, August 15th. The company reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. Fabrinet had a return on equity of 13.07% and a net margin of 6.34%. The firm had revenue of $276.40 million for the quarter, compared to the consensus estimate of $262.95 million. During the same quarter last year, the company earned $0.40 earnings per share. The business’s revenue for the quarter was up 33.8% compared to the same quarter last year. Equities analysts expect that Fabrinet will post $2.05 earnings per share for the current year.
Several research analysts have recently commented on FN shares. Needham & Company LLC reissued a “buy” rating and set a $54.00 price objective on shares of Fabrinet in a report on Tuesday, August 30th. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, August 16th. Piper Jaffray Cos. reissued an “overweight” rating and set a $50.00 price objective on shares of Fabrinet in a report on Tuesday, September 6th. Zacks Investment Research lowered Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Finally, Stifel Nicolaus upped their target price on Fabrinet from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Fabrinet currently has a consensus rating of “Buy” and an average price target of $47.68.
In related news, Director Rollance E. Olson sold 5,000 shares of Fabrinet stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $40.06, for a total transaction of $200,300.00. Following the sale, the director now owns 44,829 shares of the company’s stock, valued at approximately $1,795,849.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David T. Mitchell sold 75,000 shares of Fabrinet stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $39.95, for a total value of $2,996,250.00. Following the sale, the chief executive officer now directly owns 725,533 shares in the company, valued at approximately $28,985,043.35. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of complex products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the entire manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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