Los Angeles Capital Management LLC Acquires 6,870 Shares of Fabrinet (NYSE:FN)

Los Angeles Capital Management LLC lifted its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 34.2% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,986 shares of the technology company's stock after buying an additional 6,870 shares during the period. Los Angeles Capital Management LLC owned about 0.07% of Fabrinet worth $6,381,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Legacy Wealth Asset Management LLC boosted its holdings in Fabrinet by 3.2% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company's stock worth $325,000 after acquiring an additional 43 shares in the last quarter. Wolff Wiese Magana LLC increased its position in shares of Fabrinet by 2.7% during the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company's stock valued at $417,000 after acquiring an additional 47 shares during the last quarter. Trust Point Inc. increased its position in shares of Fabrinet by 4.7% during the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company's stock valued at $301,000 after acquiring an additional 57 shares during the last quarter. Cim LLC grew its holdings in Fabrinet by 1.0% during the second quarter. Cim LLC now owns 5,980 shares of the technology company's stock valued at $1,344,000 after purchasing an additional 61 shares during the period. Finally, Ausbil Investment Management Ltd grew its holdings in Fabrinet by 0.5% during the third quarter. Ausbil Investment Management Ltd now owns 14,741 shares of the technology company's stock valued at $3,485,000 after purchasing an additional 76 shares during the period. Institutional investors and hedge funds own 97.38% of the company's stock.

Insider Activity at Fabrinet

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the sale, the chief financial officer now directly owns 19,347 shares in the company, valued at $5,223,690. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the sale, the chief executive officer now directly owns 37,643 shares in the company, valued at approximately $10,163,610. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Csaba Sverha sold 100 shares of the firm's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the sale, the chief financial officer now directly owns 19,347 shares of the company's stock, valued at approximately $5,223,690. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,728 shares of company stock valued at $11,645,062. Corporate insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on FN shares. Rosenblatt Securities raised their price target on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Needham & Company LLC started coverage on Fabrinet in a report on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price target for the company. B. Riley cut their price target on Fabrinet from $196.00 to $194.00 and set a "neutral" rating for the company in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $248.17.

Fabrinet Trading Down 2.7 %

Shares of NYSE:FN traded down $7.18 during trading on Tuesday, reaching $263.75. The company's stock had a trading volume of 179,740 shares, compared to its average volume of 490,760. Fabrinet has a 12 month low of $159.30 and a 12 month high of $278.38. The stock has a market capitalization of $9.57 billion, a PE ratio of 32.06 and a beta of 0.95. The firm's 50 day simple moving average is $240.03 and its two-hundred day simple moving average is $234.35.

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 the consensus estimate of $2.38 by $0.01. The company had revenue of $804.20 million for 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%. Fabrinet's revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $1.78 earnings per share. Research analysts anticipate that Fabrinet will post 9.11 EPS for the current fiscal year.

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.