Fabrinet (NYSE:FN) Stock Position Raised by Value Aligned Research Advisors LLC

Value Aligned Research Advisors LLC increased its stake in Fabrinet (NYSE:FN) by 1.0% in the 3rd quarter, Holdings Channel reports. The fund owned 67,767 shares of the technology company’s stock after buying an additional 661 shares during the quarter. Fabrinet comprises about 4.2% of Value Aligned Research Advisors LLC’s holdings, making the stock its 10th largest position. Value Aligned Research Advisors LLC’s holdings in Fabrinet were worth $16,023,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FN. Opal Wealth Advisors LLC bought a new stake in Fabrinet in the 2nd quarter worth approximately $28,000. Huntington National Bank raised its stake in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after acquiring an additional 57 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of Fabrinet in the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC purchased a new stake in shares of Fabrinet in the 2nd quarter valued at $49,000. Finally, NBC Securities Inc. boosted its stake in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after purchasing an additional 183 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Trading Up 7.1 %

Shares of FN opened at $248.82 on Wednesday. Fabrinet has a 1-year low of $159.30 and a 1-year high of $278.38. The firm’s 50-day moving average price is $243.63 and its 200-day moving average price is $237.37. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 29.45 and a beta of 0.95.

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

Insider Activity

In other news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.08, for a total value 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 31.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,728 shares of company stock worth $11,645,062. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

FN has been the subject of several recent research reports. Rosenblatt Securities boosted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Barclays began coverage on Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price objective for the company. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Needham & Company LLC initiated coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective on the stock. Finally, B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and reduced their price target for the company from $194.00 to $178.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Fabrinet has an average rating of “Hold” and a consensus target price of $252.14.

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.