Diversified Trust Co Sells 2,236 Shares of Fabrinet (NYSE:FN)

Diversified Trust Co lessened its stake in shares of Fabrinet (NYSE:FN - Free Report) by 22.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,769 shares of the technology company's stock after selling 2,236 shares during the period. Diversified Trust Co's holdings in Fabrinet were worth $1,837,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Fabrinet during the second quarter valued at approximately $28,000. Banque Cantonale Vaudoise purchased a new stake in Fabrinet during the second quarter valued at approximately $35,000. Kimelman & Baird LLC purchased a new stake in Fabrinet during the second quarter valued at approximately $49,000. GAMMA Investing LLC lifted its position in Fabrinet by 60.6% during the first quarter. GAMMA Investing LLC now owns 289 shares of the technology company's stock valued at $55,000 after acquiring an additional 109 shares during the last quarter. Finally, UMB Bank n.a. purchased a new stake in Fabrinet during the first quarter valued at approximately $57,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Up 1.1 %

Fabrinet stock traded up $2.69 during mid-day trading on Tuesday, reaching $244.99. 208,921 shares of the company's stock were exchanged, compared to its average volume of 483,455. The company has a market cap of $8.86 billion, a P/E ratio of 32.52 and a beta of 0.95. Fabrinet has a twelve month low of $149.19 and a twelve month high of $278.38. The company has a fifty day moving average of $228.71 and a 200-day moving average of $221.74.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $732.63 million. During the same period in the prior year, the firm posted $1.68 EPS. The company's quarterly revenue was up 14.8% compared to the same quarter last year. Equities research analysts expect that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FN. Rosenblatt Securities raised their target price on shares of Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. Needham & Company LLC raised their target price on shares of Fabrinet from $270.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 20th. B. Riley raised their target price on shares of Fabrinet from $171.00 to $196.00 and gave the stock a "neutral" rating in a report on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of Fabrinet in a report on Wednesday, June 26th. They set a "hold" rating and a $230.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $219.00.

Insider Buying and Selling

In related news, CFO Csaba Sverha sold 100 shares of the firm's stock in a transaction dated 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 owns 19,347 shares in the company, valued at $5,223,690. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Csaba Sverha sold 100 shares of the firm's stock in a transaction dated 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 owns 19,347 shares in the company, valued at $5,223,690. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward T. Archer sold 8,690 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 8,333 shares of the company's stock, valued at $1,835,426.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,728 shares of company stock worth $11,645,062 in the last 90 days. Company insiders own 0.51% of the company's stock.

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.