DRW Securities LLC Takes $1.63 Million Position in Fabrinet (NYSE:FN)

DRW Securities LLC acquired a new position in shares of Fabrinet (NYSE:FN - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,884 shares of the technology company's stock, valued at approximately $1,628,000.

Several other institutional investors and hedge funds have also modified their holdings of FN. Opal Wealth Advisors LLC bought a new stake in shares of Fabrinet during the 2nd quarter worth $28,000. Huntington National Bank raised its position in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after purchasing an additional 57 shares during the last quarter. Banque Cantonale Vaudoise bought a new position in Fabrinet in the second quarter valued at about $35,000. Kimelman & Baird LLC acquired a new stake in shares of Fabrinet in the second quarter valued at about $49,000. Finally, NBC Securities Inc. increased its stake in shares of 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 buying an additional 183 shares during the period. 97.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Fabrinet

In other news, EVP Edward T. Archer sold 8,690 shares of the firm's stock in a transaction that occurred on 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 owns 8,333 shares in the company, valued at $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.38% of the company's stock.

Fabrinet Trading Up 3.0 %

NYSE FN traded up $6.97 during trading hours on Tuesday, hitting $235.60. 572,169 shares of the company's stock were exchanged, compared to its average volume of 498,974. Fabrinet has a 1-year low of $159.30 and a 1-year high of $278.38. The stock has a 50-day simple moving average of $244.18 and a 200 day simple moving average of $238.08. The firm has a market cap of $8.54 billion, a price-to-earnings ratio of 27.88 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating 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 firm had revenue of $804.20 million during the quarter, compared to analysts' expectations of $771.24 million. During the same quarter last year, the firm posted $1.78 earnings per share. The company's revenue for the quarter was up 17.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on FN. Rosenblatt Securities increased their price target on Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their price target on Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Needham & Company LLC assumed coverage on Fabrinet in a research note on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price target for the company. Barclays assumed coverage on Fabrinet in a research note on Thursday, November 14th. They set an "equal weight" rating and a $292.00 target price for the company. Finally, B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $252.14.

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.