Sanctuary Advisors LLC Buys Shares of 1,969 Fabrinet (NYSE:FN)

Sanctuary Advisors LLC bought a new stake in Fabrinet (NYSE:FN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,969 shares of the technology company's stock, valued at approximately $482,000.

A number of other large investors have also added to or reduced their stakes in FN. Opal Wealth Advisors LLC acquired a new position in shares of Fabrinet in the 2nd quarter valued at approximately $28,000. Banque Cantonale Vaudoise acquired a new position in Fabrinet during the 2nd quarter worth $35,000. Kimelman & Baird LLC bought a new stake in shares of Fabrinet in the 2nd quarter worth about $49,000. GAMMA Investing LLC raised its stake in shares of Fabrinet by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company's stock valued at $55,000 after purchasing an additional 109 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in Fabrinet during the 1st quarter worth approximately $63,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Rosenblatt Securities upped their price target on Fabrinet from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 20th. Needham & Company LLC boosted their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the company a "buy" rating in a research report on Tuesday, August 20th. Jefferies Financial Group started 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. Finally, B. Riley upped their target price on Fabrinet from $171.00 to $196.00 and gave the company a "neutral" rating in a 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 stock. According to data from MarketBeat.com, Fabrinet currently has an average rating of "Hold" and a consensus target price of $219.00.

Insider Transactions at Fabrinet

In other Fabrinet news, 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 approximately $1,835,426.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Fabrinet news, 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 directly owns 8,333 shares of the company's stock, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $27,000.00. Following the transaction, the chief financial officer now owns 19,347 shares of the company's stock, valued at approximately $5,223,690. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,728 shares of company stock valued at $11,645,062. 0.51% of the stock is currently owned by corporate insiders.

Fabrinet Trading Up 1.7 %

Fabrinet stock traded up $4.56 during midday trading on Thursday, reaching $266.91. 299,051 shares of the stock traded hands, compared to its average volume of 478,543. Fabrinet has a fifty-two week low of $149.19 and a fifty-two week high of $278.38. The firm has a market cap of $9.65 billion, a price-to-earnings ratio of 34.86 and a beta of 0.95. The firm has a fifty day moving average price of $235.92 and a two-hundred day moving average price of $224.75.

Fabrinet (NYSE:FN - Get Free Report) last issued 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. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The business had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. During the same period in the previous year, the firm posted $1.68 earnings per share. The business's revenue was up 14.8% on a year-over-year basis. Analysts anticipate that Fabrinet will post 9.11 earnings per share for the current year.

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.