Algert Global LLC raised its stake in shares of Fabrinet (NYSE:FN) by 18.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,658 shares of the company’s stock after buying an additional 5,106 shares during the period. Algert Global LLC’s holdings in Fabrinet were worth $1,456,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in FN. BNP Paribas Arbitrage SA boosted its position in Fabrinet by 115.1% in the second quarter. BNP Paribas Arbitrage SA now owns 9,979 shares of the company’s stock valued at $370,000 after buying an additional 5,339 shares during the period. Prudential Financial Inc. boosted its position in Fabrinet by 20.0% in the first quarter. Prudential Financial Inc. now owns 83,329 shares of the company’s stock valued at $2,696,000 after buying an additional 13,900 shares during the period. Goldman Sachs Group Inc. acquired a new position in Fabrinet during the first quarter valued at approximately $1,061,000. State Board of Administration of Florida Retirement System boosted its position in Fabrinet by 15.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,777 shares of the company’s stock valued at $697,000 after buying an additional 2,475 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Fabrinet by 5.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,064,635 shares of the company’s stock valued at $76,639,000 after buying an additional 102,747 shares during the period. Institutional investors own 90.82% of the company’s stock.
Shares of Fabrinet (NYSE:FN) opened at 41.19 on Friday. Fabrinet has a 1-year low of $20.13 and a 1-year high of $46.50. The firm has a 50-day moving average price of $42.51 and a 200-day moving average price of $37.26. The company has a market capitalization of $1.49 billion, a PE ratio of 24.52 and a beta of 0.66.
Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 15th. The company reported $0.60 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.60. Fabrinet had a return on equity of 13.07% and a net margin of 6.34%. The business had revenue of $276.40 million for the quarter, compared to the consensus estimate of $262.95 million. During the same period last year, the business earned $0.40 EPS. The firm’s revenue was up 33.8% compared to the same quarter last year. Equities analysts anticipate that Fabrinet will post $2.02 earnings per share for the current year.
Several equities analysts have recently commented on FN shares. Zacks Investment Research cut Fabrinet from a “hold” rating to a “sell” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and set a $54.00 price objective on shares of Fabrinet in a research note on Tuesday, August 30th. Piper Jaffray Cos. restated an “overweight” rating and set a $53.00 price objective (up from $50.00) on shares of Fabrinet in a research note on Friday, October 7th. JPMorgan Chase & Co. raised their price objective on Fabrinet from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 16th. Finally, Stifel Nicolaus raised their price objective on Fabrinet from $40.00 to $48.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $48.11.
In other Fabrinet 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 value of $200,300.00. Following the transaction, the director now directly owns 44,829 shares of the company’s stock, valued at approximately $1,795,849.74. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO David T. Mitchell sold 75,000 shares of Fabrinet stock in a transaction that occurred on Thursday, August 18th. The stock was sold at an average price of $39.95, for a total value of $2,996,250.00. Following the completion of the transaction, the chief executive officer now directly owns 725,533 shares in the company, valued at $28,985,043.35. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.
Fabrinet Company Profile
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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