Amalgamated Bank Purchases 5,554 Shares of Fabrinet (NYSE:FN)

Amalgamated Bank increased its position in Fabrinet (NYSE:FN - Free Report) by 50.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,591 shares of the technology company's stock after acquiring an additional 5,554 shares during the period. Amalgamated Bank's holdings in Fabrinet were worth $3,923,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FN. Vanguard Group Inc. lifted its holdings in Fabrinet by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company's stock valued at $821,986,000 after acquiring an additional 38,999 shares during the last quarter. TD Asset Management Inc increased its position in shares of Fabrinet by 216.1% in 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Fabrinet by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company's stock valued at $77,027,000 after acquiring an additional 12,409 shares during the period. Epoch Investment Partners Inc. lifted its position in shares of Fabrinet by 9.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company's stock valued at $73,928,000 after acquiring an additional 26,475 shares in the last quarter. Finally, Westfield Capital Management Co. LP boosted its stake in Fabrinet by 13.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 300,421 shares of the technology company's stock worth $56,786,000 after purchasing an additional 35,529 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on FN. B. Riley decreased their target price on shares of Fabrinet from $196.00 to $194.00 and set a "neutral" rating for the company in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Rosenblatt Securities raised their price target on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, August 20th. Finally, Needham & Company LLC started coverage on Fabrinet in a research note on Tuesday. They issued a "buy" rating and a $280.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $248.17.

Insiders Place Their Bets

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Seamus Grady sold 26,650 shares of the business's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the completion of the transaction, the chief executive officer now owns 37,643 shares of the company's stock, valued at $10,163,610. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Csaba Sverha sold 100 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the sale, the chief financial officer now directly owns 19,347 shares in the company, valued at $5,223,690. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,728 shares of company stock valued at $11,645,062. 0.38% of the stock is currently owned by insiders.

Fabrinet Stock Up 3.3 %

NYSE FN traded up $8.68 during trading on Friday, hitting $271.08. The company's stock had a trading volume of 681,502 shares, compared to its average volume of 560,979. The firm has a market cap of $9.83 billion, a P/E ratio of 32.08 and a beta of 0.95. Fabrinet has a 52 week low of $159.30 and a 52 week high of $278.38. The firm has a 50 day moving average price of $239.49 and a 200 day moving average price of $232.77.

Fabrinet (NYSE:FN - Get Free Report) last released its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. The business had revenue of $804.20 million during the quarter, compared to analysts' expectations of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm's revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share. On average, equities analysts expect that Fabrinet will post 9.11 earnings per share for the current year.

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.