Cynosure Group LLC boosted its position in shares of Fabrinet (NYSE:FN – Free Report) by 3.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,560 shares of the technology company’s stock after purchasing an additional 51 shares during the period. Cynosure Group LLC’s holdings in Fabrinet were worth $369,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in shares of Fabrinet during the second quarter valued at $28,000. Huntington National Bank grew its stake in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after acquiring an additional 57 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet in the 2nd quarter valued at about $35,000. Kimelman & Baird LLC purchased a new stake in shares of Fabrinet in the second quarter worth approximately $49,000. Finally, NBC Securities Inc. lifted its position in shares of Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have weighed in on FN shares. Needham & Company LLC began coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective on the stock. Barclays initiated coverage on shares of Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Rosenblatt Securities lifted their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $252.14.
Fabrinet Price Performance
Shares of NYSE:FN opened at $225.85 on Friday. The stock has a market capitalization of $8.19 billion, a P/E ratio of 26.73 and a beta of 0.95. The business has a 50-day moving average of $243.94 and a two-hundred day moving average of $237.91. Fabrinet has a fifty-two week low of $159.30 and a fifty-two week high of $278.38.
Fabrinet (NYSE:FN – Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. The business had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business earned $1.78 EPS. As a group, research analysts expect that Fabrinet will post 9.1 EPS for the current fiscal year.
Insider Buying and Selling
In other news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. The trade was a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.38% of the stock is owned by insiders.
Fabrinet Company Profile
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.
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