Park Avenue Securities LLC Grows Position in Fabrinet (NYSE:FN)

Park Avenue Securities LLC boosted its stake in Fabrinet (NYSE:FNGet Rating) by 8.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,939 shares of the technology company’s stock after purchasing an additional 371 shares during the quarter. Park Avenue Securities LLC’s holdings in Fabrinet were worth $471,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its stake in Fabrinet by 546.3% during the second quarter. Meeder Asset Management Inc. now owns 349 shares of the technology company’s stock worth $28,000 after buying an additional 295 shares during the period. Wipfli Financial Advisors LLC purchased a new stake in Fabrinet during the third quarter worth approximately $48,000. Point72 Hong Kong Ltd purchased a new stake in Fabrinet during the second quarter worth approximately $56,000. Quantbot Technologies LP purchased a new stake in Fabrinet during the second quarter worth approximately $56,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Fabrinet by 382.1% during the second quarter. EverSource Wealth Advisors LLC now owns 728 shares of the technology company’s stock worth $59,000 after purchasing an additional 577 shares in the last quarter. 97.13% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Fabrinet Trading Up 1.9 %

FN opened at $134.25 on Friday. The stock has a market capitalization of $4.91 billion, a PE ratio of 22.68 and a beta of 1.05. The firm’s fifty day moving average price is $130.14 and its 200 day moving average price is $110.92. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.95 and a quick ratio of 1.95. Fabrinet has a 12-month low of $74.57 and a 12-month high of $140.18.

Fabrinet (NYSE:FNGet Rating) last released its earnings results on Monday, November 7th. The technology company reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.23. Fabrinet had a net margin of 9.28% and a return on equity of 17.74%. The firm had revenue of $655.43 million during the quarter, compared to analyst estimates of $630.67 million. During the same quarter in the previous year, the firm earned $1.21 earnings per share. As a group, research analysts expect that Fabrinet will post 6.68 EPS for the current fiscal year.

Insider Buying and Selling at Fabrinet

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

About Fabrinet

(Get Rating)

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.

Recommended Stories

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.