nVerses Capital LLC Purchases New Shares in Fabrinet (NYSE:FN)

nVerses Capital LLC acquired a new position in shares of Fabrinet (NYSE:FN - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,400 shares of the technology company's stock, valued at approximately $567,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FN. Opal Wealth Advisors LLC acquired a new position in shares of Fabrinet in the 2nd quarter valued at about $28,000. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet in the 2nd quarter valued at about $35,000. Kimelman & Baird LLC acquired a new position in shares of Fabrinet in the 2nd quarter valued at about $49,000. NBC Securities Inc. increased its holdings in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company's stock valued at $49,000 after purchasing an additional 183 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Fabrinet by 252.9% in the 3rd quarter. UMB Bank n.a. now owns 240 shares of the technology company's stock valued at $57,000 after purchasing an additional 172 shares during the period. Institutional investors and hedge funds own 97.38% of the company's stock.

Fabrinet Trading Down 8.9 %

Fabrinet stock traded down $23.81 during trading hours on Friday, reaching $243.06. 1,222,517 shares of the company were exchanged, compared to its average volume of 482,225. The firm has a market cap of $8.79 billion, a price-to-earnings ratio of 33.53 and a beta of 0.95. The stock has a 50-day moving average of $237.13 and a 200 day moving average of $225.04. Fabrinet has a 12 month low of $149.19 and a 12 month high of $278.38.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, beating 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 company had revenue of $753.26 million during the quarter, compared to analysts' expectations of $732.63 million. During the same period in the prior year, the business earned $1.68 earnings per share. Fabrinet's revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, research analysts forecast that Fabrinet will post 9.11 EPS for the current year.

Insider Activity at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Seamus Grady sold 26,650 shares of the firm's stock in a transaction on Friday, August 23rd. The stock was 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 $10,163,610. 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 through this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction on 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 transaction, the executive vice president now directly owns 8,333 shares of the company's stock, valued at approximately $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,728 shares of company stock worth $11,645,062. 0.51% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. 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. Rosenblatt Securities upped 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 boosted their price target on Fabrinet from $270.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price target on Fabrinet from $240.00 to $285.00 and gave the company a "neutral" rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group began coverage on Fabrinet in a research note on Wednesday, June 26th. They issued a "hold" rating and a $230.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $219.00.

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.