20,035 Shares in Fabrinet (NYSE:FN) Purchased by West Coast Financial LLC

West Coast Financial LLC purchased a new stake in shares of Fabrinet (NYSE:FN - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 20,035 shares of the technology company's stock, valued at approximately $4,737,000. West Coast Financial LLC owned approximately 0.06% of Fabrinet at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Fabrinet by 0.9% during the first quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company's stock valued at $821,986,000 after acquiring an additional 38,999 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in Fabrinet by 0.7% in the 1st quarter. Congress Asset Management Co. MA now owns 524,068 shares of the technology company's stock worth $99,059,000 after buying an additional 3,684 shares during the period. TD Asset Management Inc boosted its position in Fabrinet by 216.1% in the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company's stock worth $77,453,000 after purchasing an additional 280,145 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Fabrinet by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company's stock worth $77,027,000 after purchasing an additional 12,409 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in Fabrinet by 9.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company's stock worth $73,928,000 after purchasing an additional 26,475 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Analysts Set New Price Targets

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

Fabrinet Stock Up 4.1 %

Shares of FN traded up $10.50 on Friday, hitting $263.59. 324,341 shares of the stock traded hands, compared to its average volume of 481,465. The firm has a market capitalization of $9.53 billion, a P/E ratio of 32.13 and a beta of 0.95. The stock's 50 day moving average is $230.79 and its two-hundred day moving average is $222.51. Fabrinet has a 1 year low of $149.19 and a 1 year high of $278.38.

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 (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.35. The company had revenue of $753.26 million during the quarter, compared to analyst estimates of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The business's quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.68 earnings per share. Research analysts forecast that Fabrinet will post 9.11 EPS for the current year.

Insiders Place Their Bets

In related news, 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 directly owns 8,333 shares in the company, valued at $1,835,426.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Csaba Sverha sold 100 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the sale, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock valued at $11,645,062 over the last ninety days. Corporate 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.