Pathstone Holdings LLC Grows Stock Position in Fabrinet (NYSE:FN)

Pathstone Holdings LLC raised its holdings in Fabrinet (NYSE:FN) by 40.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,219 shares of the technology company’s stock after buying an additional 2,378 shares during the quarter. Pathstone Holdings LLC’s holdings in Fabrinet were worth $1,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FN. nVerses Capital LLC acquired a new position in Fabrinet in the third quarter valued at $567,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Fabrinet by 27.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 79,088 shares of the technology company’s stock worth $15,036,000 after purchasing an additional 17,000 shares during the period. LMR Partners LLP increased its position in Fabrinet by 68.4% during the 3rd quarter. LMR Partners LLP now owns 39,493 shares of the technology company’s stock worth $9,338,000 after purchasing an additional 16,037 shares in the last quarter. Park Avenue Securities LLC raised its holdings in Fabrinet by 68.6% in the second quarter. Park Avenue Securities LLC now owns 6,533 shares of the technology company’s stock valued at $1,599,000 after buying an additional 2,658 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in Fabrinet during the second quarter valued at approximately $1,091,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Transactions at Fabrinet

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at $1,835,426.58. This trade represents a 51.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FN shares. Rosenblatt Securities raised their target price 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. JPMorgan Chase & Co. raised 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. Barclays started coverage on Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price for the company. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and dropped their target price for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Needham & Company LLC started coverage on Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $252.14.

Fabrinet Stock Performance

Shares of FN opened at $235.60 on Wednesday. Fabrinet has a one year low of $159.30 and a one year high of $278.38. The stock has a 50-day moving average price of $244.18 and a 200 day moving average price of $238.08. The company has a market capitalization of $8.54 billion, a P/E ratio of 27.88 and a beta of 0.95.

Fabrinet (NYSE:FN) last released its earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.38 by $0.01. The company had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. As a group, equities research analysts forecast that Fabrinet will post 9.1 earnings per share for the current fiscal year.

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.