Harvest Fund Management Co. Ltd Has $1.37 Million Stake in Fabrinet (NYSE:FN)

Harvest Fund Management Co. Ltd lifted its stake in shares of Fabrinet (NYSE:FN - Free Report) by 197.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,795 shares of the technology company's stock after purchasing an additional 3,845 shares during the period. Harvest Fund Management Co. Ltd's holdings in Fabrinet were worth $1,371,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new stake in Fabrinet during the second quarter worth about $28,000. Huntington National Bank raised its stake 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 acquired a new stake in Fabrinet during the second quarter worth about $35,000. Kimelman & Baird LLC acquired a new stake in Fabrinet during the second quarter worth about $49,000. Finally, NBC Securities Inc. increased its stake in shares of Fabrinet by 732.0% in the third 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 period. Institutional investors own 97.38% of the company's stock.

Insider Buying and Selling at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company's stock.

Fabrinet Price Performance

NYSE:FN traded up $6.97 during trading hours on Tuesday, reaching $235.60. The company's stock had a trading volume of 572,169 shares, compared to its average volume of 498,974. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 27.88 and a beta of 0.95. Fabrinet has a one year low of $159.30 and a one year high of $278.38. The business's 50-day moving average is $244.18 and its 200-day moving average is $238.08.

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, topping analysts' consensus estimates of $2.38 by $0.01. The firm had revenue of $804.20 million during the quarter, compared to analysts' expectations of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. Fabrinet's revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 earnings per share. On average, sell-side analysts predict that Fabrinet will post 9.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FN shares. Barclays started coverage on shares of Fabrinet in a research note on Thursday, November 14th. They issued an "equal weight" rating and a $292.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a report on Tuesday, August 20th. B. Riley cut shares of Fabrinet from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Needham & Company LLC initiated coverage on shares of Fabrinet in a report on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price objective for the company. Finally, Rosenblatt Securities increased their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a report on Tuesday, August 20th. One equities research 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. According to data from MarketBeat, Fabrinet has a consensus rating of "Hold" and an average price target of $252.14.

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.