Moloney Securities Asset Management LLC Acquires 544 Shares of Fabrinet (NYSE:FN)

Moloney Securities Asset Management LLC raised its holdings in Fabrinet (NYSE:FN) by 49.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,644 shares of the technology company’s stock after purchasing an additional 544 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Fabrinet were worth $389,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FN. TD Asset Management Inc raised its position in shares of Fabrinet by 216.1% during the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after acquiring an additional 280,145 shares during the last quarter. Epoch Investment Partners Inc. raised its position in shares of Fabrinet by 291.0% during the first quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock worth $52,081,000 after acquiring an additional 205,057 shares during the last quarter. Driehaus Capital Management LLC raised its position in shares of Fabrinet by 183.5% during the second quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock worth $68,046,000 after acquiring an additional 179,943 shares during the last quarter. Clearbridge Investments LLC bought a new stake in shares of Fabrinet during the second quarter worth $27,911,000. Finally, Kennedy Capital Management LLC bought a new stake in shares of Fabrinet during the first quarter worth $15,637,000. Institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 19,768 shares of the company’s stock, valued at approximately $5,338,941.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Csaba Sverha sold 9,288 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 19,768 shares of the company’s stock, valued at $5,338,941.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was 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 directly owns 8,333 shares of the company’s stock, valued at $1,835,426.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,728 shares of company stock valued at $11,645,062. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC assumed coverage on Fabrinet in a research report on Tuesday. They set a “buy” rating and a $280.00 target price for the company. B. Riley dropped their target price on Fabrinet from $196.00 to $194.00 and set a “neutral” rating for the company in a research report on Tuesday. Rosenblatt Securities lifted their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, 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. Three 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 an average rating of “Moderate Buy” and an average price target of $248.17.

Fabrinet Stock Up 7.2 %

Shares of Fabrinet stock opened at $246.72 on Thursday. Fabrinet has a 12 month low of $157.55 and a 12 month high of $278.38. The stock has a market cap of $8.95 billion, a PE ratio of 29.20 and a beta of 0.95. The business has a fifty day simple moving average of $238.55 and a 200 day simple moving average of $231.81.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.50% and a net margin of 10.28%. The firm had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. During the same period in the previous year, the firm earned $1.78 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. Analysts expect that Fabrinet will post 9.11 EPS for the current fiscal 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.