Dynamic Technology Lab Private Ltd Acquires New Stake in Fabrinet (NYSE:FN)

Dynamic Technology Lab Private Ltd purchased a new stake in Fabrinet (NYSE:FN - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,142 shares of the technology company's stock, valued at approximately $2,398,000.

Several other institutional investors also recently made changes to their positions in FN. Charles Schwab Investment Management Inc. lifted its stake in shares of Fabrinet by 14.7% during 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 in the last quarter. Bank of New York Mellon Corp lifted its stake 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 worth $77,027,000 after purchasing an additional 12,409 shares in the last quarter. Epoch Investment Partners Inc. lifted its stake in shares of Fabrinet by 9.6% during the second quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company's stock worth $73,928,000 after purchasing an additional 26,475 shares in the last quarter. Driehaus Capital Management LLC lifted its stake in shares of Fabrinet by 183.5% during the second quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company's stock worth $68,046,000 after purchasing an additional 179,943 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Fabrinet by 20.4% during the first quarter. Janus Henderson Group PLC now owns 276,354 shares of the technology company's stock worth $52,233,000 after purchasing an additional 46,864 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FN shares. Rosenblatt Securities boosted their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, August 20th. Needham & Company LLC initiated coverage on Fabrinet in a research note on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective on the stock. B. Riley cut Fabrinet from a "neutral" rating to a "sell" rating and cut their price target for the stock from $194.00 to $178.00 in a research note on Wednesday, November 20th. 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. Finally, JPMorgan Chase & Co. boosted their price target on Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $252.14.

Insider Activity at Fabrinet

In other news, EVP Edward T. Archer sold 8,690 shares of the company'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 transaction of $1,914,059.40. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by corporate insiders.

Fabrinet Trading Down 0.6 %

Fabrinet stock traded down $1.34 during midday trading on Monday, hitting $229.09. The stock had a trading volume of 276,448 shares, compared to its average volume of 497,206. The stock has a market cap of $8.31 billion, a P/E ratio of 26.88 and a beta of 0.95. Fabrinet has a 12 month low of $159.30 and a 12 month high of $278.38. The business has a fifty day moving average price of $244.00 and a 200 day moving average price of $237.91.

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 for the quarter, beating the consensus estimate of $2.38 by $0.01. The firm had revenue of $804.20 million during 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%. Fabrinet's quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.78 earnings per share. On average, equities analysts anticipate that Fabrinet will post 9.1 EPS for the current fiscal year.

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.