Pathstone Holdings LLC Raises Holdings in Fabrinet (NYSE:FN)

Pathstone Holdings LLC boosted its position in Fabrinet (NYSE:FN - Free Report) by 40.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,219 shares of the technology company's stock after acquiring an additional 2,378 shares during the period. Pathstone Holdings LLC's holdings in Fabrinet were worth $1,943,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet in the second quarter worth $28,000. Huntington National Bank boosted its holdings in shares of Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after acquiring an additional 57 shares during the period. Banque Cantonale Vaudoise bought a new position in shares of Fabrinet in the second quarter worth $35,000. Kimelman & Baird LLC acquired a new stake in shares of Fabrinet in the 2nd quarter worth approximately $49,000. Finally, NBC Securities Inc. lifted its holdings in Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after acquiring an additional 183 shares during the last quarter. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the firm's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value 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 $1,835,426.58. This trade represents a 51.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by company insiders.

Fabrinet Stock Performance

Fabrinet stock opened at $235.60 on Wednesday. Fabrinet has a 52 week low of $159.30 and a 52 week high of $278.38. The stock has a market capitalization of $8.55 billion, a P/E ratio of 27.88 and a beta of 0.95. The stock has a 50-day simple moving average of $244.18 and a 200 day simple moving average of $238.08.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $771.24 million. During the same period in the prior year, the company earned $1.78 EPS. The firm's quarterly revenue was up 17.3% compared to the same quarter last year. Research analysts forecast that Fabrinet will post 9.1 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently commented on FN. Rosenblatt Securities upped their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. Needham & Company LLC started coverage on Fabrinet in a research note on Tuesday, November 5th. They issued a "buy" rating and a $280.00 target price for the company. B. Riley lowered Fabrinet from a "neutral" rating to a "sell" rating and decreased their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Barclays assumed coverage on shares of Fabrinet in a research note on Thursday, November 14th. They set an "equal weight" rating and a $292.00 price target for the company. One 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. According to MarketBeat, the company has a consensus rating of "Hold" and an average 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.