Erste Asset Management GmbH purchased a new position in shares of Fabrinet (NYSE:FN - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,375 shares of the technology company's stock, valued at approximately $5,079,000. Erste Asset Management GmbH owned approximately 0.06% of Fabrinet at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Fabrinet during the 3rd quarter worth $567,000. Charles Schwab Investment Management Inc. lifted its position in 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 during the period. Pathstone Holdings LLC grew its stake in 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 buying an additional 2,378 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Fabrinet in the 3rd quarter valued at about $2,398,000. Finally, LMR Partners LLP raised its position in shares of Fabrinet by 68.4% in the 3rd quarter. LMR Partners LLP now owns 39,493 shares of the technology company's stock valued at $9,338,000 after buying an additional 16,037 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company's stock.
Fabrinet Trading Up 0.6 %
FN traded up $1.37 on Tuesday, reaching $235.35. The stock had a trading volume of 428,664 shares, compared to its average volume of 500,136. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 27.85 and a beta of 0.92. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $278.38. The firm has a 50-day moving average of $244.14 and a 200-day moving average of $238.09.
Fabrinet (NYSE:FN - Get Free Report) last issued 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. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The business had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. During the same quarter last year, the business earned $1.78 EPS. The firm's quarterly revenue was up 17.3% on a year-over-year basis. Sell-side analysts anticipate that Fabrinet will post 9.1 EPS for the current fiscal year.
Insider Transactions at Fabrinet
In related news, EVP Edward T. Archer sold 8,690 shares of Fabrinet 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 directly owns 8,333 shares of the company's stock, valued at $1,835,426.58. The trade was a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by company insiders.
Analyst Ratings Changes
FN has been the topic of several analyst reports. B. Riley lowered shares of Fabrinet from a "neutral" rating to a "sell" rating and reduced their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Rosenblatt Securities raised their target price on Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price target on Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Barclays assumed coverage on Fabrinet in a research note on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price objective on the stock. Finally, Needham & Company LLC started coverage on Fabrinet in a research note on Tuesday, November 5th. They set a "buy" rating and a $280.00 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $252.14.
Check Out Our Latest Report on Fabrinet
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.
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