Commonwealth Equity Services LLC Has $680,000 Holdings in Fabrinet (NYSE:FN)

Commonwealth Equity Services LLC lifted its holdings in shares of Fabrinet (NYSE:FNFree Report) by 11.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,598 shares of the technology company’s stock after purchasing an additional 358 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Fabrinet were worth $680,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Fabrinet by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,333,317 shares of the technology company’s stock valued at $722,017,000 after purchasing an additional 16,228 shares during the period. Evoke Wealth LLC bought a new stake in Fabrinet in the 4th quarter valued at approximately $3,135,000. Redwood Investments LLC acquired a new position in Fabrinet during the 4th quarter worth approximately $3,478,000. Wellington Management Group LLP raised its holdings in shares of Fabrinet by 21.3% in the third quarter. Wellington Management Group LLP now owns 904,505 shares of the technology company’s stock valued at $150,709,000 after purchasing an additional 159,037 shares during the last quarter. Finally, Cim LLC bought a new stake in shares of Fabrinet in the fourth quarter worth $1,194,000. Institutional investors own 97.38% of the company’s stock.

Insider Transactions at Fabrinet

In other Fabrinet news, Director Frank H. Levinson sold 6,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $241.71, for a total transaction of $1,450,260.00. Following the transaction, the director now owns 5,709 shares in the company, valued at approximately $1,379,922.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FN shares. B. Riley reduced their price objective on shares of Fabrinet from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. JPMorgan Chase & Co. increased their price target on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Jefferies Financial Group began coverage on Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target on the stock. Northland Securities raised Fabrinet from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $200.00 to $220.00 in a report on Thursday, March 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $220.00 target price on shares of Fabrinet in a report on Tuesday, May 7th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $168.67.

Check Out Our Latest Research Report on Fabrinet

Fabrinet Price Performance

FN stock opened at $242.89 on Thursday. Fabrinet has a one year low of $114.83 and a one year high of $257.04. The stock has a market cap of $8.78 billion, a price-to-earnings ratio of 32.26 and a beta of 0.96. The company has a fifty day moving average price of $234.73 and a two-hundred day moving average price of $208.17.

Fabrinet (NYSE:FNGet Free Report) last announced its earnings results on Monday, May 6th. The technology company reported $2.21 EPS for the quarter, topping the consensus estimate of $1.93 by $0.28. The business had revenue of $731.54 million during the quarter, compared to the consensus estimate of $718.94 million. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. Research analysts anticipate that Fabrinet will post 7.95 EPS for the current fiscal year.

About Fabrinet

(Free Report)

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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