US Bancorp DE Sells 105 Shares of Fabrinet (NYSE:FN)

US Bancorp DE lowered its position in shares of Fabrinet (NYSE:FNGet Rating) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,211 shares of the technology company’s stock after selling 105 shares during the quarter. US Bancorp DE’s holdings in Fabrinet were worth $975,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of FN. Diversified Trust Co grew its position in shares of Fabrinet by 1.5% during the 3rd quarter. Diversified Trust Co now owns 7,753 shares of the technology company’s stock valued at $740,000 after purchasing an additional 111 shares in the last quarter. DB Fitzpatrick & Co Inc grew its holdings in Fabrinet by 1.1% in the second quarter. DB Fitzpatrick & Co Inc now owns 10,616 shares of the technology company’s stock worth $861,000 after purchasing an additional 118 shares during the period. Evergreen Capital Management LLC grew its holdings in Fabrinet by 6.2% in the first quarter. Evergreen Capital Management LLC now owns 2,142 shares of the technology company’s stock worth $225,000 after purchasing an additional 125 shares during the period. Park Avenue Securities LLC grew its holdings in Fabrinet by 6.3% in the second quarter. Park Avenue Securities LLC now owns 4,568 shares of the technology company’s stock worth $370,000 after purchasing an additional 271 shares during the period. Finally, Meeder Asset Management Inc. grew its holdings in Fabrinet by 546.3% in the second quarter. Meeder Asset Management Inc. now owns 349 shares of the technology company’s stock worth $28,000 after purchasing an additional 295 shares during the period. Institutional investors own 97.13% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Fabrinet Stock Down 1.9 %

FN stock 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’s fifty day simple moving average is $129.86 and its 200-day simple moving average is $110.20. Fabrinet has a 12 month low of $74.57 and a 12 month high of $140.18. The company has a market capitalization of $4.95 billion, a P/E ratio of 22.84 and a beta of 1.05.

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

Insiders Place Their Bets

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

Fabrinet Profile

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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.

See Also

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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