Chartwell Investment Partners LLC Purchases 2,664 Shares of Fabrinet (NYSE:FN)

Chartwell Investment Partners LLC increased its holdings in Fabrinet (NYSE:FN - Free Report) by 101.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,283 shares of the technology company's stock after purchasing an additional 2,664 shares during the quarter. Chartwell Investment Partners LLC's holdings in Fabrinet were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in shares of Fabrinet in the 2nd quarter worth approximately $28,000. Banque Cantonale Vaudoise bought a new stake in Fabrinet in the second quarter valued at $35,000. Kimelman & Baird LLC purchased a new position in Fabrinet during the 2nd quarter valued at $49,000. NBC Securities Inc. raised its holdings in Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock worth $49,000 after purchasing an additional 183 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Fabrinet by 252.9% in the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company's stock worth $57,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. B. Riley decreased their price target on shares of Fabrinet from $196.00 to $194.00 and set a "neutral" rating for the company in a research note on Tuesday, November 5th. Needham & Company LLC began coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a "buy" rating and a $280.00 target price for the company. Rosenblatt Securities lifted their price target on Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped 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. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $248.17.

Insiders Place Their Bets

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the company's stock in a transaction dated Thursday, September 5th. The shares were 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 in the company, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Csaba Sverha sold 9,288 shares of the firm's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the sale, the chief financial officer now directly owns 19,768 shares in the company, valued at approximately $5,338,941.44. 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 sold 44,728 shares of company stock valued at $11,645,062. Insiders own 0.38% of the company's stock.

Fabrinet Price Performance

FN stock traded down $7.04 on Wednesday, reaching $251.81. 268,416 shares of the company traded hands, compared to its average volume of 490,713. The firm has a fifty day simple moving average of $240.79 and a 200-day simple moving average of $234.94. The company has a market cap of $9.13 billion, a P/E ratio of 30.63 and a beta of 0.95. Fabrinet has a one year low of $159.30 and a one year high of $278.38.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly 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 firm had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company's revenue was up 17.3% on a year-over-year basis. During the same period last year, the company earned $1.78 earnings per share. On average, sell-side analysts forecast that Fabrinet will post 9.1 EPS for the current year.

About Fabrinet

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.