Nations Financial Group Inc. IA ADV Makes New Investment in Fabrinet (NYSE:FN)

Nations Financial Group Inc. IA ADV bought a new position in shares of Fabrinet (NYSE:FN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,873 shares of the technology company's stock, valued at approximately $679,000.

Other large investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its stake in shares of Fabrinet by 14.4% during the first quarter. Janney Montgomery Scott LLC now owns 5,168 shares of the technology company's stock valued at $977,000 after acquiring an additional 652 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Fabrinet by 3.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,102 shares of the technology company's stock valued at $775,000 after buying an additional 122 shares during the period. SG Americas Securities LLC lifted its stake in Fabrinet by 144.1% in the first quarter. SG Americas Securities LLC now owns 2,236 shares of the technology company's stock valued at $423,000 after buying an additional 1,320 shares during the period. Swiss National Bank lifted its stake in Fabrinet by 0.6% in the first quarter. Swiss National Bank now owns 71,740 shares of the technology company's stock valued at $13,560,000 after buying an additional 400 shares during the period. Finally, Sei Investments Co. lifted its stake in Fabrinet by 2.4% in the first quarter. Sei Investments Co. now owns 96,859 shares of the technology company's stock valued at $18,309,000 after buying an additional 2,245 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 the company's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the sale, the chief financial officer now owns 19,347 shares in the company, valued at approximately $5,223,690. The trade was a 0.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Edward T. Archer sold 8,690 shares of the company's 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 $1,835,426.58. This trade represents a 51.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock worth $11,645,062 in the last 90 days. Insiders own 0.38% of the company's stock.

Fabrinet Stock Performance

NYSE:FN traded up $0.02 during mid-day trading on Thursday, hitting $252.02. 372,385 shares of the stock were exchanged, compared to its average volume of 490,178. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 29.73 and a beta of 0.95. The firm's 50-day simple moving average is $241.33 and its 200 day simple moving average is $235.06. Fabrinet has a fifty-two week low of $159.30 and a fifty-two 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. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm 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 firm earned $1.78 EPS. The company's quarterly revenue was up 17.3% compared to the same quarter last year. On average, analysts predict that Fabrinet will post 9.1 EPS for the current fiscal year.

Analysts Set New Price Targets

FN has been the topic of several analyst reports. B. Riley cut their target price on Fabrinet from $196.00 to $194.00 and set a "neutral" rating on the stock in a research note on Tuesday, November 5th. JPMorgan Chase & Co. raised their price target on Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Barclays started coverage on Fabrinet in a report on Thursday. They set an "equal weight" rating and a $292.00 price objective for the company. Needham & Company LLC started coverage on Fabrinet in a report on Tuesday, November 5th. They set a "buy" rating and a $280.00 price objective for the company. Finally, Rosenblatt Securities increased their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Four investment 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 has a consensus rating of "Hold" and a consensus target price 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.