TradeLink Capital LLC Acquires New Stake in Fabrinet (NYSE:FN)

TradeLink Capital LLC acquired a new stake in Fabrinet (NYSE:FN) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 2,405 shares of the technology company’s stock, valued at approximately $475,000. Fabrinet makes up about 2.9% of TradeLink Capital LLC’s portfolio, making the stock its 13th biggest holding.

Several other institutional investors have also added to or reduced their stakes in FN. Commonwealth Equity Services LLC lifted its position in Fabrinet by 11.0% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,940 shares of the technology company’s stock worth $866,000 after buying an additional 391 shares in the last quarter. LPL Financial LLC lifted its position in Fabrinet by 110.4% during the 4th quarter. LPL Financial LLC now owns 14,531 shares of the technology company’s stock worth $3,195,000 after buying an additional 7,624 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Fabrinet by 1.4% during the 4th quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company’s stock worth $147,201,000 after buying an additional 9,058 shares in the last quarter. Norges Bank bought a new stake in Fabrinet during the 4th quarter worth about $95,084,000. Finally, Pictet Asset Management Holding SA lifted its position in Fabrinet by 7.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,942 shares of the technology company’s stock worth $1,087,000 after buying an additional 347 shares in the last quarter. 97.38% of the stock is owned by institutional investors.

Insider Activity at Fabrinet

In other news, COO Harpal Gill sold 18,675 shares of Fabrinet stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the transaction, the chief operating officer owned 18,068 shares in the company, valued at approximately $4,336,320. The trade was a 50.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rollance E. Olson sold 2,500 shares of Fabrinet stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total transaction of $559,950.00. Following the transaction, the director directly owned 23,201 shares of the company’s stock, valued at $5,196,559.98. This represents a 9.73% decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on FN shares. Barclays set a $234.00 price target on shares of Fabrinet and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Wolfe Research assumed coverage on shares of Fabrinet in a research note on Tuesday, July 8th. They set a “peer perform” rating on the stock. Rosenblatt Securities boosted their price objective on shares of Fabrinet from $250.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, June 12th. Needham & Company LLC restated a “buy” rating and set a $280.00 price objective on shares of Fabrinet in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $235.00 to $318.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Fabrinet has an average rating of “Hold” and a consensus target price of $261.33.

Fabrinet Trading Down 0.0%

NYSE FN opened at $320.64 on Thursday. The firm has a market capitalization of $11.49 billion, a price-to-earnings ratio of 35.71 and a beta of 1.04. The firm’s 50 day simple moving average is $273.25 and its 200 day simple moving average is $232.17. Fabrinet has a 1 year low of $148.55 and a 1 year high of $332.00.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.47 by $0.05. The business had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The firm’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.39 EPS. On average, equities research analysts forecast that Fabrinet will post 9.4 earnings per share for the current year.

About Fabrinet

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.