Mutual of America Capital Management LLC Purchases 13,361 Shares of Fabrinet (NYSE:FN)

Mutual of America Capital Management LLC increased its stake in shares of Fabrinet (NYSE:FN - Free Report) by 43.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,175 shares of the technology company's stock after buying an additional 13,361 shares during the quarter. Mutual of America Capital Management LLC owned about 0.12% of Fabrinet worth $10,445,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Huntington National Bank increased its position in Fabrinet by 70.4% in the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company's stock valued at $33,000 after acquiring an additional 57 shares during the period. KBC Group NV boosted its position in shares of Fabrinet by 12.2% in the 3rd quarter. KBC Group NV now owns 1,022 shares of the technology company's stock valued at $242,000 after purchasing an additional 111 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Fabrinet during the third quarter valued at approximately $442,000. WCM Investment Management LLC lifted its holdings in shares of Fabrinet by 31.2% in the third quarter. WCM Investment Management LLC now owns 51,723 shares of the technology company's stock valued at $12,402,000 after purchasing an additional 12,289 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in Fabrinet in the 3rd quarter worth about $679,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the sale, the chief financial officer now owns 19,768 shares of the company's stock, valued at $5,338,941.44. This trade represents a 31.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the company's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the transaction, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. This represents a 51.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,728 shares of company stock worth $11,645,062. Corporate insiders own 0.38% of the company's stock.

Fabrinet Stock Down 1.1 %

Shares of NYSE:FN traded down $2.59 during mid-day trading on Monday, reaching $232.26. 359,221 shares of the stock were exchanged, compared to its average volume of 490,956. The stock's 50 day simple moving average is $242.35 and its 200-day simple moving average is $236.47. Fabrinet has a one year low of $159.30 and a one year high of $278.38. The company has a market cap of $8.42 billion, a P/E ratio of 27.59 and a beta of 0.95.

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

Wall Street Analyst Weigh In

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

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.