LMR Partners LLP Has $9.34 Million Stock Holdings in Fabrinet (NYSE:FN)

LMR Partners LLP grew its holdings in Fabrinet (NYSE:FN - Free Report) by 68.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,493 shares of the technology company's stock after purchasing an additional 16,037 shares during the quarter. LMR Partners LLP owned approximately 0.11% of Fabrinet worth $9,338,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FN. Epoch Investment Partners Inc. raised its position in Fabrinet by 291.0% during the first quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company's stock worth $52,081,000 after acquiring an additional 205,057 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of Fabrinet by 183.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company's stock worth $68,046,000 after acquiring an additional 179,943 shares during the last quarter. Clearbridge Investments LLC purchased a new position in shares of Fabrinet during the second quarter worth $27,911,000. Kennedy Capital Management LLC purchased a new position in Fabrinet during the 1st quarter valued at about $15,637,000. Finally, DekaBank Deutsche Girozentrale increased its stake in Fabrinet by 3,831.4% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company's stock worth $19,465,000 after buying an additional 80,000 shares during the period. Institutional investors own 97.38% of the company's stock.

Fabrinet Trading Down 0.5 %

FN traded down $1.27 during trading on Monday, reaching $233.58. 208,498 shares of the company were exchanged, compared to its average volume of 490,279. The firm has a 50 day moving average of $242.35 and a 200 day moving average of $236.47. The stock has a market cap of $8.47 billion, a P/E ratio of 27.59 and a beta of 0.95. Fabrinet has a 52 week low of $159.30 and a 52 week high of $278.38.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. The business had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company's revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. As a group, analysts forecast that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. Needham & Company LLC started coverage on Fabrinet in a report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price target on the stock. Rosenblatt Securities upped their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, August 20th. B. Riley cut their price objective on Fabrinet from $196.00 to $194.00 and set a "neutral" rating for the company in a research report on Tuesday, November 5th. Finally, Barclays began coverage on Fabrinet in a research note on Thursday. They set an "equal weight" rating and a $292.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $254.43.

Insiders Place Their Bets

In related news, CFO Csaba Sverha sold 100 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the sale, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. This represents a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Seamus Grady sold 26,650 shares of the business's stock in a transaction 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 transaction, the chief executive officer now directly owns 37,643 shares of the company's stock, valued at approximately $10,163,610. This represents a 41.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,728 shares of company stock worth $11,645,062. 0.38% of the stock is currently owned by company insiders.

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.