Harbor Capital Advisors Inc. Purchases 3,227 Shares of Fabrinet (NYSE:FN)

Harbor Capital Advisors Inc. grew its holdings in Fabrinet (NYSE:FN) by 44.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,433 shares of the technology company’s stock after acquiring an additional 3,227 shares during the period. Harbor Capital Advisors Inc.’s holdings in Fabrinet were worth $2,467,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FN. Opal Wealth Advisors LLC purchased a new position in Fabrinet in the 2nd quarter worth approximately $28,000. Banque Cantonale Vaudoise purchased a new position in shares of Fabrinet in the second quarter worth $35,000. Kimelman & Baird LLC bought a new position in shares of Fabrinet during the second quarter worth $49,000. NBC Securities Inc. grew its stake in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after acquiring an additional 183 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in Fabrinet by 252.9% in the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock valued at $57,000 after acquiring an additional 172 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Insider Activity at Fabrinet

In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were 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 owns 19,768 shares of the company’s stock, valued at $5,338,941.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Csaba Sverha sold 9,288 shares of the firm’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 transaction of $2,508,503.04. Following the transaction, the chief financial officer now directly owns 19,768 shares in the company, valued at approximately $5,338,941.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,728 shares of company stock worth $11,645,062. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FN has been the subject of several research reports. Rosenblatt Securities increased their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. B. Riley increased their price target on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Needham & Company LLC increased their target price on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Fabrinet has a consensus rating of “Moderate Buy” and an average price target of $248.50.

Fabrinet Price Performance

Shares of FN stock opened at $239.61 on Tuesday. The company has a market cap of $8.69 billion, a PE ratio of 29.58 and a beta of 0.95. Fabrinet has a 1 year low of $157.55 and a 1 year high of $278.38. The stock’s 50 day simple moving average is $238.82 and its two-hundred day simple moving average is $231.22.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The company had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. During the same period last year, the company earned $1.68 earnings per share. Fabrinet’s revenue was up 14.8% on a year-over-year basis. Equities research analysts expect that Fabrinet will post 9.11 EPS 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.