Emerald Advisers LLC Has $40.35 Million Stake in Fabrinet $FN

Emerald Advisers LLC reduced its position in shares of Fabrinet (NYSE:FN) by 18.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 110,673 shares of the technology company’s stock after selling 25,545 shares during the period. Fabrinet makes up about 1.3% of Emerald Advisers LLC’s portfolio, making the stock its 21st biggest holding. Emerald Advisers LLC owned approximately 0.31% of Fabrinet worth $40,354,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FN. Nordea Investment Management AB increased its holdings in Fabrinet by 0.3% in the 2nd quarter. Nordea Investment Management AB now owns 43,411 shares of the technology company’s stock valued at $12,845,000 after buying an additional 132 shares during the period. Argent Capital Management LLC acquired a new stake in shares of Fabrinet during the 3rd quarter worth approximately $4,931,000. Charles Schwab Investment Management Inc. increased its stake in Fabrinet by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 424,741 shares of the technology company’s stock valued at $125,163,000 after acquiring an additional 4,043 shares during the last quarter. William Blair Investment Management LLC bought a new position in Fabrinet in the second quarter valued at approximately $26,243,000. Finally, Gateway Investment Advisers LLC acquired a new position in Fabrinet during the third quarter valued at approximately $1,435,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Price Performance

FN opened at $488.88 on Thursday. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $531.22. The company’s 50 day moving average price is $460.48 and its two-hundred day moving average price is $394.55. The firm has a market capitalization of $17.52 billion, a price-to-earnings ratio of 50.35 and a beta of 1.04.

Insiders Place Their Bets

In other Fabrinet news, CEO Seamus Grady sold 22,451 shares of the company’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $446.95, for a total value of $10,034,474.45. Following the sale, the chief executive officer owned 23,573 shares in the company, valued at approximately $10,535,952.35. The trade was a 48.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas F. Kelly sold 2,200 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $464.14, for a total value of $1,021,108.00. Following the completion of the sale, the director directly owned 18,789 shares of the company’s stock, valued at approximately $8,720,726.46. The trade was a 10.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,151 shares of company stock valued at $12,643,707. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FN has been the topic of several recent analyst reports. Northland Securities set a $600.00 price target on Fabrinet in a research note on Monday, December 22nd. Susquehanna began coverage on Fabrinet in a research note on Monday, December 15th. They issued a “positive” rating and a $550.00 price objective on the stock. Zacks Research downgraded Fabrinet from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fabrinet in a report on Monday, December 29th. Finally, Barclays raised shares of Fabrinet from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $499.00 to $537.00 in a report on Wednesday, January 14th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $474.63.

Fabrinet Company Profile

Fabrinet is a global provider of advanced optical packaging and precision optical, electro‐mechanical and electronic manufacturing services (CEM). The company specializes in complex manufacturing processes for original equipment manufacturers (OEMs) in communications, data center, industrial, instrumentation and medical markets. Key capabilities include high‐precision fiber alignment, micro‐assembly, testing and diagnostics, and integration of electro‐optic subassemblies.

Incorporated in 2000, Fabrinet operates under a corporate structure headquartered in Singapore with additional regional offices and design centers in the Americas, Europe and Asia.