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Fabrinet (NYSE:FN) Shares Acquired by Bank of Montreal Can

Fabrinet logo with Computer and Technology background

Bank of Montreal Can raised its position in shares of Fabrinet (NYSE:FN - Free Report) by 61.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,425 shares of the technology company's stock after purchasing an additional 7,025 shares during the quarter. Bank of Montreal Can owned 0.05% of Fabrinet worth $4,418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. nVerses Capital LLC bought a new stake in Fabrinet during the third quarter worth about $567,000. Charles Schwab Investment Management Inc. raised its holdings in Fabrinet by 14.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company's stock worth $113,621,000 after purchasing an additional 61,491 shares during the period. Pathstone Holdings LLC raised its holdings in shares of Fabrinet by 40.7% during the third quarter. Pathstone Holdings LLC now owns 8,219 shares of the technology company's stock worth $1,943,000 after acquiring an additional 2,378 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Fabrinet during the third quarter worth $2,398,000. Finally, LMR Partners LLP grew its position in Fabrinet by 68.4% in the third quarter. LMR Partners LLP now owns 39,493 shares of the technology company's stock valued at $9,338,000 after purchasing an additional 16,037 shares in the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on FN shares. JPMorgan Chase & Co. lifted their target price on shares of Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Needham & Company LLC initiated coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective for the company. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and reduced their target price for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Barclays assumed coverage on shares of Fabrinet in a report on Thursday, November 14th. They set an "equal weight" rating and a $292.00 target price on the stock. Finally, Rosenblatt Securities boosted their target price on shares of Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. One 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. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $252.14.

Check Out Our Latest Stock Analysis on Fabrinet

Fabrinet Price Performance

Fabrinet stock traded up $6.52 during mid-day trading on Wednesday, reaching $241.90. The stock had a trading volume of 373,509 shares, compared to its average volume of 499,595. The company has a market capitalization of $8.77 billion, a price-to-earnings ratio of 28.63 and a beta of 0.92. The company has a 50-day moving average price of $244.42 and a two-hundred day moving average price of $238.12. Fabrinet has a one year low of $159.69 and a one year high of $278.38.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The company's revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm posted $1.78 EPS. On average, equities research analysts anticipate that Fabrinet will post 9.1 earnings per share 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 stock was 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 of the company's stock, valued at approximately $1,835,426.58. This represents a 51.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.38% of the stock is owned by insiders.

Fabrinet Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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