Atom Investors LP Makes New $3.12 Million Investment in Fabrinet (NYSE:FN)

Atom Investors LP bought a new position in shares of Fabrinet (NYSE:FN - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,203 shares of the technology company's stock, valued at approximately $3,122,000.

Several other hedge funds have also recently made changes to their positions in FN. Opal Wealth Advisors LLC purchased a new position in shares of Fabrinet during the second quarter valued at approximately $28,000. Huntington National Bank raised its holdings in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after acquiring an additional 57 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Fabrinet in the second quarter valued at approximately $35,000. Kimelman & Baird LLC purchased a new position in Fabrinet during the second quarter worth about $49,000. Finally, NBC Securities Inc. increased 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 buying an additional 183 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Stock Down 0.3 %

Shares of NYSE:FN traded down $0.60 during trading on Monday, hitting $233.98. 571,325 shares of the stock traded hands, compared to its average volume of 500,441. Fabrinet has a 52-week low of $159.69 and a 52-week high of $278.38. The company has a fifty day moving average price of $244.01 and a two-hundred day moving average price of $238.06. The company has a market cap of $8.49 billion, a price-to-earnings ratio of 27.76 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last released 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 return on equity of 18.08% and a net margin of 10.28%. The business had revenue of $804.20 million during the quarter, compared to analysts' expectations of $771.24 million. During the same period in the prior year, the business posted $1.78 EPS. The company's revenue was up 17.3% compared to the same quarter last year. On average, equities research analysts predict that Fabrinet will post 9.1 EPS for the current fiscal year.

Insider Buying and Selling at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the 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 sale, the executive vice president now directly owns 8,333 shares of the company's stock, valued at approximately $1,835,426.58. This represents a 51.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.38% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays initiated coverage on Fabrinet in a research note on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price target on the stock. Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price target on the stock. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and lowered their target price for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. raised their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities upped their price target on Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $252.14.

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.