First Eagle Investment Management LLC Has $12.02 Million Stake in Fabrinet (NYSE:FN)

First Eagle Investment Management LLC raised its position in Fabrinet (NYSE:FN - Free Report) by 111.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 49,104 shares of the technology company's stock after purchasing an additional 25,912 shares during the period. First Eagle Investment Management LLC owned approximately 0.14% of Fabrinet worth $12,020,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Evoke Wealth LLC bought a new position in shares of Fabrinet during the 4th quarter valued at about $3,135,000. Cim LLC bought a new position in Fabrinet in the fourth quarter valued at approximately $1,194,000. Norden Group LLC boosted its holdings in shares of Fabrinet by 1,775.2% in the first quarter. Norden Group LLC now owns 28,616 shares of the technology company's stock valued at $5,409,000 after buying an additional 27,090 shares during the period. Pitcairn Co. bought a new stake in shares of Fabrinet during the first quarter worth $544,000. Finally, Franklin Resources Inc. acquired a new stake in shares of Fabrinet during the fourth quarter worth $1,421,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Down 1.2 %

Shares of NYSE:FN traded down $2.75 during midday trading on Friday, hitting $231.53. The stock had a trading volume of 7,224,698 shares, compared to its average volume of 490,257. The company has a market cap of $8.37 billion, a P/E ratio of 30.75 and a beta of 0.96. Fabrinet has a 12 month low of $149.19 and a 12 month high of $278.38. The business's 50-day simple moving average is $229.29 and its 200-day simple moving average is $219.26.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.35. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The company had revenue of $753.26 million for the quarter, compared to analyst estimates of $732.63 million. During the same period in the previous year, the business earned $1.68 EPS. Fabrinet's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts predict that Fabrinet will post 9.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FN has been the subject of a number of research analyst reports. B. Riley upped their target price on shares of Fabrinet from $171.00 to $196.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 20th. 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. JPMorgan Chase & Co. boosted their target price on Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Needham & Company LLC raised their price target on shares of Fabrinet from $270.00 to $280.00 and gave the stock a "buy" rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group began coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They issued a "hold" rating and a $230.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $219.00.

Insider Activity

In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction on Friday, August 23rd. The shares were 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 directly owns 37,643 shares of the company's stock, valued at $10,163,610. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the 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 of the company's stock, valued at approximately $10,163,610. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the business's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares of the company's stock, valued at approximately $1,835,426.58. The disclosure for this sale can be found here. Insiders sold a total of 44,728 shares of company stock valued at $11,645,062 over the last three months. Insiders own 0.51% of the company's stock.

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.