Fabrinet (NYSE:FN) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its position in shares of Fabrinet (NYSE:FNGet Rating) by 23.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,965 shares of the technology company’s stock after selling 11,967 shares during the quarter. Raymond James & Associates owned approximately 0.11% of Fabrinet worth $3,815,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FN. Capital International Investors boosted its position in shares of Fabrinet by 108.1% during the 1st quarter. Capital International Investors now owns 1,529,864 shares of the technology company’s stock valued at $160,835,000 after acquiring an additional 794,833 shares during the last quarter. WCM Investment Management LLC acquired a new position in shares of Fabrinet during the 2nd quarter valued at about $26,203,000. Alyeska Investment Group L.P. purchased a new stake in Fabrinet in the 1st quarter valued at about $33,032,000. Wellington Management Group LLP raised its holdings in Fabrinet by 90.6% in the 1st quarter. Wellington Management Group LLP now owns 413,227 shares of the technology company’s stock valued at $43,443,000 after buying an additional 196,477 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Fabrinet by 21.4% in the 2nd quarter. Victory Capital Management Inc. now owns 977,443 shares of the technology company’s stock valued at $79,271,000 after buying an additional 172,296 shares during the period. Institutional investors and hedge funds own 97.13% of the company’s stock.

Fabrinet Stock Down 1.9 %

Shares of NYSE:FN opened at $135.24 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.95 and a quick ratio of 1.95. The firm has a market capitalization of $4.95 billion, a PE ratio of 22.84 and a beta of 1.05. The firm’s 50-day moving average is $129.86 and its two-hundred day moving average is $110.20. Fabrinet has a 1 year low of $74.57 and a 1 year high of $140.18.

Fabrinet (NYSE:FNGet Rating) last announced its quarterly earnings data on Monday, November 7th. The technology company reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.23. Fabrinet had a return on equity of 17.74% and a net margin of 9.28%. The business had revenue of $655.43 million during the quarter, compared to the consensus estimate of $630.67 million. During the same period in the previous year, the company posted $1.21 earnings per share. Analysts predict that Fabrinet will post 6.68 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FN. Needham & Company LLC boosted their price objective on shares of Fabrinet from $135.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, November 8th. B. Riley boosted their price objective on shares of Fabrinet from $102.00 to $110.00 in a report on Tuesday, November 8th. JPMorgan Chase & Co. upgraded shares of Fabrinet from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $126.00 to $156.00 in a report on Tuesday, December 20th. StockNews.com upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a research note on Wednesday, December 14th. Finally, Northland Securities boosted their price target on shares of Fabrinet from $125.00 to $132.50 in a research note on Thursday, October 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.50.

Insider Transactions at Fabrinet

In other news, CFO Csaba Sverha sold 14,194 shares of the business’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $121.94, for a total transaction of $1,730,816.36. Following the completion of the transaction, the chief financial officer now directly owns 17,009 shares of the company’s stock, valued at $2,074,077.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Csaba Sverha sold 14,194 shares of the company’s stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $121.94, for a total value of $1,730,816.36. Following the completion of the transaction, the chief financial officer now directly owns 17,009 shares of the company’s stock, valued at $2,074,077.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Harpal Gill sold 6,377 shares of the company’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $128.12, for a total value of $817,021.24. Following the completion of the transaction, the chief operating officer now directly owns 35,013 shares of the company’s stock, valued at $4,485,865.56. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

About Fabrinet

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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.

Further Reading

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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