Charles Schwab Investment Management Inc. grew its stake in shares of Fabrinet (NYSE:FN - Free Report) by 14.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 480,550 shares of the technology company's stock after purchasing an additional 61,491 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.32% of Fabrinet worth $113,621,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in FN. Opal Wealth Advisors LLC acquired a new position in Fabrinet during the second quarter worth $28,000. Huntington National Bank raised its position in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company's stock worth $33,000 after acquiring an additional 57 shares during the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet in the second quarter valued at approximately $35,000. Kimelman & Baird LLC purchased a new stake in Fabrinet in the 2nd quarter valued at approximately $49,000. Finally, NBC Securities Inc. grew its holdings in Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after buying an additional 183 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.
Fabrinet Price Performance
FN stock traded up $6.97 during trading on Tuesday, reaching $235.60. 572,169 shares of the stock traded hands, compared to its average volume of 498,974. The firm has a market capitalization of $8.54 billion, a PE ratio of 27.88 and a beta of 0.95. Fabrinet has a 52-week low of $159.30 and a 52-week high of $278.38. The business's 50 day moving average price is $244.18 and its 200-day moving average price is $238.08.
Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same quarter last year, the firm posted $1.78 earnings per share. Fabrinet's revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities research analysts predict that Fabrinet will post 9.1 earnings per share for the current year.
Insider Activity at Fabrinet
In related news, EVP Edward T. Archer sold 8,690 shares of the firm's stock in a transaction dated 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 51.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.38% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on the stock. Rosenblatt Securities boosted their price objective 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. B. Riley lowered 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 note on Wednesday, November 20th. Needham & Company LLC began coverage on Fabrinet in a report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective on the stock. Barclays assumed coverage on Fabrinet in a research note on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 target price for the company. Finally, JPMorgan Chase & Co. raised 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 investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $252.14.
View Our Latest Stock Report on Fabrinet
About Fabrinet
(
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.
Read More
Before you consider Fabrinet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Fabrinet wasn't on the list.
While Fabrinet currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
