Perpetual Ltd Invests $1.50 Million in Fabrinet (NYSE:FN)

Perpetual Ltd acquired a new position in shares of Fabrinet (NYSE:FN - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,328 shares of the technology company's stock, valued at approximately $1,496,000.

Several other hedge funds have also modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new stake in Fabrinet during the second quarter worth about $28,000. Banque Cantonale Vaudoise acquired a new stake in Fabrinet during the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC purchased a new position in Fabrinet in 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 buying an additional 109 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Fabrinet during the first quarter worth approximately $63,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Trading Up 4.1 %

FN stock traded up $10.50 during midday trading on Friday, hitting $263.59. 324,910 shares of the company's stock were exchanged, compared to its average volume of 481,465. The firm has a 50 day moving average price of $232.01 and a 200-day moving average price of $223.00. Fabrinet has a 12-month low of $149.19 and a 12-month high of $278.38. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 35.01 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.06 by $0.35. The business 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 revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. On average, sell-side analysts forecast that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In related news, CFO Csaba Sverha sold 9,288 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.08, for a total value of $2,508,503.04. Following the completion of the sale, the chief financial officer now directly owns 19,768 shares of the company's stock, valued at $5,338,941.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Seamus Grady sold 26,650 shares of Fabrinet 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 completion of the transaction, the chief executive officer now directly owns 37,643 shares of the company's stock, valued at approximately $10,163,610. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Csaba Sverha sold 9,288 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the sale, the chief financial officer now directly owns 19,768 shares of the company's stock, valued at approximately $5,338,941.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,728 shares of company stock valued at $11,645,062. Insiders own 0.51% of the company's stock.

Wall Street Analyst Weigh In

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

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.