Fabrinet (NYSE:FN) Position Increased by Algert Global LLC

Algert Global LLC lifted its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 11.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,663 shares of the technology company's stock after purchasing an additional 2,869 shares during the quarter. Algert Global LLC owned about 0.08% of Fabrinet worth $6,777,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in FN. Opal Wealth Advisors LLC acquired a new stake in Fabrinet in the second quarter valued at $28,000. Huntington National Bank raised its position in shares of Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after acquiring an additional 57 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet during the 2nd quarter worth about $35,000. Kimelman & Baird LLC purchased a new stake in Fabrinet during the second quarter worth approximately $49,000. Finally, NBC Securities Inc. boosted its holdings in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Fabrinet Stock Up 0.2 %

Shares of FN traded up $0.42 during trading hours on Friday, reaching $230.43. 708,394 shares of the company traded hands, compared to its average volume of 655,777. The stock has a market capitalization of $8.36 billion, a PE ratio of 27.27 and a beta of 0.95. The stock has a fifty day simple moving average of $244.00 and a 200 day simple moving average of $237.73. Fabrinet has a fifty-two week low of $159.30 and a fifty-two week high of $278.38.

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

Insider Buying and Selling at Fabrinet

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 owns 19,347 shares of the company's stock, valued at approximately $5,223,690. This represents a 0.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction 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 transaction, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 51.05 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on FN. Needham & Company LLC began coverage on shares of Fabrinet in a report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. B. Riley downgraded shares of Fabrinet from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $194.00 to $178.00 in a research note on Wednesday. Rosenblatt Securities lifted their target price on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. Finally, Barclays started coverage on Fabrinet in a report on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus 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.