Intech Investment Management LLC Acquires 11,102 Shares of Fabrinet (NYSE:FN)

Intech Investment Management LLC grew its stake in Fabrinet (NYSE:FN - Free Report) by 76.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,535 shares of the technology company's stock after purchasing an additional 11,102 shares during the quarter. Intech Investment Management LLC owned approximately 0.07% of Fabrinet worth $6,037,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in Fabrinet during the second quarter worth $28,000. Huntington National Bank lifted its holdings 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 period. Banque Cantonale Vaudoise bought a new stake in Fabrinet during the second quarter worth $35,000. Kimelman & Baird LLC bought a new stake in Fabrinet during the second quarter worth $49,000. Finally, NBC Securities Inc. lifted its holdings in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock worth $49,000 after acquiring an additional 183 shares during the period. Institutional investors own 97.38% of the company's stock.

Insider Buying and Selling

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.00, for a total transaction of $27,000.00. Following the completion of the sale, the chief financial officer now owns 19,347 shares of the company's stock, valued at $5,223,690. The trade was a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction dated 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 sale, the executive vice president now directly owns 8,333 shares of the company's stock, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their position. The disclosure for this sale can be found here. 0.38% of the stock is owned by company insiders.

Fabrinet Trading Up 0.2 %

Shares of NYSE FN traded up $0.42 during mid-day trading on Friday, hitting $230.43. The company had a trading volume of 708,394 shares, compared to its average volume of 655,777. The company has a market capitalization of $8.36 billion, a price-to-earnings ratio of 27.28 and a beta of 0.95. Fabrinet has a 1 year low of $159.30 and a 1 year high of $278.38. The stock's 50-day moving average price is $244.00 and its 200-day moving average price is $237.53.

Fabrinet (NYSE:FN - Get Free Report) last posted its earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. 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 previous year, the business earned $1.78 earnings per share. The firm's revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts forecast that Fabrinet will post 9.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FN. Rosenblatt Securities raised their target price on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. 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. JPMorgan Chase & Co. raised their target price on Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Barclays began coverage on Fabrinet in a research report on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 target price for the company. Finally, B. Riley downgraded Fabrinet from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $194.00 to $178.00 in a research report on Wednesday. One investment 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 data from MarketBeat, Fabrinet currently has a consensus rating of "Hold" and an average price target of $252.14.

Fabrinet Company 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.