Fabrinet (NYSE:FN) Stock Holdings Increased by Van ECK Associates Corp

Van ECK Associates Corp raised its position in Fabrinet (NYSE:FN - Free Report) by 40.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,554 shares of the technology company's stock after purchasing an additional 6,731 shares during the period. Van ECK Associates Corp owned about 0.07% of Fabrinet worth $5,810,000 at the end of the most recent reporting period.

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

Insider Activity at Fabrinet

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

Fabrinet Trading Up 2.2 %

FN stock traded up $5.82 during mid-day trading on Friday, hitting $268.22. 384,791 shares of the company were exchanged, compared to its average volume of 490,341. The firm has a fifty day simple moving average of $238.94 and a 200 day simple moving average of $232.02. The company has a market capitalization of $9.73 billion, a PE ratio of 31.55 and a beta of 0.95. Fabrinet has a twelve month low of $159.30 and a twelve month high of $278.38.

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, topping analysts' consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.50% and a net margin of 10.28%. The business had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. During the same period last year, the firm earned $1.78 earnings per share. The company's revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fabrinet will post 9.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FN. Rosenblatt Securities lifted their target price on Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on shares of Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Needham & Company LLC initiated coverage on shares of Fabrinet in a research report on Tuesday. They set a "buy" rating and a $280.00 price target on the stock. Finally, B. Riley dropped their price objective on shares of Fabrinet from $196.00 to $194.00 and set a "neutral" rating for the company in a research report on Tuesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Fabrinet currently has an average rating of "Moderate Buy" and an average target price of $248.17.

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.