WCM Investment Management LLC Boosts Stock Holdings in Fabrinet (NYSE:FN)

WCM Investment Management LLC grew its holdings in shares of Fabrinet (NYSE:FN - Free Report) by 31.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,723 shares of the technology company's stock after buying an additional 12,289 shares during the quarter. WCM Investment Management LLC owned 0.14% of Fabrinet worth $12,402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC purchased a new position in shares of Fabrinet during the second quarter worth approximately $28,000. Banque Cantonale Vaudoise purchased a new stake in shares of Fabrinet in the 2nd quarter worth $35,000. Kimelman & Baird LLC bought a new position in shares of Fabrinet during the 2nd quarter worth $49,000. NBC Securities Inc. raised 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 in the last quarter. Finally, UMB Bank n.a. lifted its position 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 worth $57,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 97.38% of the company's stock.

Analysts Set New Price Targets

FN has been the subject of a number of recent research reports. Needham & Company LLC assumed coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They issued a "buy" rating and a $280.00 price objective for the company. Rosenblatt Securities boosted their price target on Fabrinet from $260.00 to $280.00 and gave the stock a "buy" rating in a research 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 research report on Tuesday, August 20th. Finally, B. Riley reduced their target price on shares of Fabrinet from $196.00 to $194.00 and set a "neutral" rating for the company in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $248.17.

Insider Activity at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the completion of the transaction, the chief executive officer now owns 37,643 shares of the company's stock, valued at $10,163,610. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Seamus Grady sold 26,650 shares of the business's 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 sale, the chief executive officer now directly owns 37,643 shares in the company, valued at approximately $10,163,610. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward T. Archer sold 8,690 shares of the company'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 transaction, the executive vice president now owns 8,333 shares in the company, 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. In the last quarter, insiders have sold 44,728 shares of company stock valued at $11,645,062. 0.38% of the stock is owned by company insiders.

Fabrinet Price Performance

NYSE:FN traded down $12.08 during trading hours on Tuesday, hitting $258.85. 374,381 shares of the company were exchanged, compared to its average volume of 491,729. The company's 50 day moving average price is $240.03 and its 200-day moving average price is $234.35. Fabrinet has a 52-week low of $159.30 and a 52-week high of $278.38. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 32.06 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The company had revenue of $804.20 million during the quarter, compared to analysts' expectations of $771.24 million. During the same period last year, the business earned $1.78 earnings per share. Fabrinet's quarterly revenue was up 17.3% on a year-over-year basis. On average, equities analysts predict that Fabrinet will post 9.11 earnings per share for the current year.

Fabrinet 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.