Fabrinet (NYSE:FN) Shares Acquired by Raymond James & Associates

Raymond James & Associates grew its stake in Fabrinet (NYSE:FN) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,746 shares of the technology company’s stock after purchasing an additional 1,708 shares during the quarter. Raymond James & Associates’ holdings in Fabrinet were worth $5,142,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. TD Asset Management Inc boosted its position in Fabrinet by 216.1% during the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after acquiring an additional 280,145 shares during the last quarter. Epoch Investment Partners Inc. boosted its position in Fabrinet by 291.0% during the first quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock worth $52,081,000 after acquiring an additional 205,057 shares during the last quarter. Driehaus Capital Management LLC boosted its position in Fabrinet by 183.5% during the second quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock worth $68,046,000 after acquiring an additional 179,943 shares during the last quarter. Clearbridge Investments LLC acquired a new position in Fabrinet in the 2nd quarter valued at about $27,911,000. Finally, Kennedy Capital Management LLC acquired a new position in Fabrinet in the 1st quarter valued at about $15,637,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Buying and Selling

In related news, CFO Csaba Sverha sold 9,288 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the sale, the chief financial officer now directly owns 19,768 shares of the company’s stock, valued at $5,338,941.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the sale, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at approximately $10,163,610. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Csaba Sverha sold 9,288 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the sale, the chief financial officer now directly owns 19,768 shares in the company, valued at approximately $5,338,941.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,728 shares of company stock valued at $11,645,062 in the last ninety days. Company insiders own 0.38% of the company’s stock.

Fabrinet Stock Performance

Fabrinet stock opened at $242.53 on Friday. The company’s 50 day simple moving average is $239.06 and its 200-day simple moving average is $229.85. The company has a market capitalization of $8.80 billion, a price-to-earnings ratio of 29.94 and a beta of 0.95. Fabrinet has a 1 year low of $152.80 and a 1 year high of $278.38.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.35. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The business had revenue of $753.26 million for the quarter, compared to the consensus estimate of $732.63 million. During the same period in the previous year, the firm earned $1.68 EPS. The business’s revenue was up 14.8% on a year-over-year basis. Equities analysts expect that Fabrinet will post 9.11 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. B. Riley boosted their target price on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Needham & Company LLC boosted their target price on shares of Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Rosenblatt Securities boosted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $248.50.

Fabrinet 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.