Fabrinet (NYSE:FN) Shares Sold by First Western Trust Bank

First Western Trust Bank lessened its holdings in Fabrinet (NYSE:FN) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 956 shares of the technology company’s stock after selling 65 shares during the quarter. First Western Trust Bank’s holdings in Fabrinet were worth $226,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FN. SG Americas Securities LLC raised its stake in Fabrinet by 144.1% during the first quarter. SG Americas Securities LLC now owns 2,236 shares of the technology company’s stock worth $423,000 after acquiring an additional 1,320 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Fabrinet by 279.5% during the first quarter. Russell Investments Group Ltd. now owns 22,294 shares of the technology company’s stock valued at $4,214,000 after purchasing an additional 16,420 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Fabrinet by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 7,412 shares of the technology company’s stock worth $1,401,000 after purchasing an additional 510 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in shares of Fabrinet by 9.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,490 shares of the technology company’s stock worth $2,172,000 after purchasing an additional 980 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Fabrinet by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company’s stock valued at $821,986,000 after purchasing an additional 38,999 shares during the period. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Down 6.8 %

FN stock opened at $234.85 on Monday. The company has a 50-day simple moving average of $242.35 and a 200 day simple moving average of $236.47. The company has a market capitalization of $8.52 billion, a P/E ratio of 27.79 and a beta of 0.95. Fabrinet has a fifty-two week low of $159.30 and a fifty-two week high of $278.38.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The company had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. During the same period in the prior year, the business posted $1.78 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts anticipate that Fabrinet will post 9.1 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FN. Barclays assumed coverage on Fabrinet in a research report on Thursday. They issued an “equal weight” rating and a $292.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. B. Riley cut their price objective on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Needham & Company LLC assumed coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 target price for the company. Finally, Rosenblatt Securities raised 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. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $254.43.

Insiders Place Their Bets

In related news, CFO Csaba Sverha sold 100 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the completion of the sale, the chief financial officer now directly owns 19,347 shares of the company’s stock, valued at $5,223,690. This represents a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward T. Archer sold 8,690 shares of Fabrinet 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 completion of the transaction, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock worth $11,645,062 over the last ninety days. Company insiders own 0.38% of the company’s stock.

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.