Fabrinet (NYSE:FN) Stake Boosted by Intech Investment Management LLC

Intech Investment Management LLC raised its holdings in shares of Fabrinet (NYSE:FN) by 76.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,535 shares of the technology company’s stock after purchasing an additional 11,102 shares during the period. Intech Investment Management LLC owned about 0.07% of Fabrinet worth $6,037,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Opal Wealth Advisors LLC bought a new stake in shares of Fabrinet during the 2nd quarter valued at about $28,000. Huntington National Bank grew its holdings in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in shares of Fabrinet during the second quarter valued at approximately $35,000. Kimelman & Baird LLC acquired a new stake in shares of Fabrinet during the 2nd quarter worth approximately $49,000. Finally, NBC Securities Inc. lifted its holdings in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Up 0.2 %

Shares of NYSE:FN opened at $230.50 on Friday. The company has a 50 day moving average of $243.99 and a 200-day moving average of $237.24. The firm has a market cap of $8.36 billion, a P/E ratio of 27.28 and a beta of 0.95. Fabrinet has a twelve month low of $159.30 and a twelve month high of $278.38.

Fabrinet (NYSE:FN) last released its 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 return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. During the same period in the prior year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities research analysts forecast that Fabrinet will post 9.1 EPS for the current year.

Insider Activity at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the firm’s 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 sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.00, for a total transaction of $27,000.00. Following the completion of the transaction, the chief financial officer now owns 19,347 shares in the company, valued at approximately $5,223,690. This trade represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

FN has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Barclays initiated coverage on shares of Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price objective on the stock. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $194.00 to $178.00 in a research report on Wednesday. Needham & Company LLC began coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target on the stock. Finally, Rosenblatt Securities boosted their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. 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. According to MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and a consensus target price of $252.14.

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.