B. Riley Financial Inc. Purchases New Holdings in Fabrinet (FN)

B. Riley Financial Inc. purchased a new stake in Fabrinet (NYSE:FN) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 34,748 shares of the technology company’s stock, valued at approximately $997,000.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Fabrinet in the 3rd quarter valued at about $161,000. Russell Investments Group Ltd. raised its holdings in shares of Fabrinet by 139.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 4,821 shares of the technology company’s stock valued at $179,000 after acquiring an additional 2,810 shares in the last quarter. Miles Capital Inc. purchased a new stake in shares of Fabrinet in the 4th quarter valued at about $219,000. Unison Advisors LLC purchased a new stake in shares of Fabrinet in the 4th quarter valued at about $220,000. Finally, Intrust Bank NA raised its holdings in shares of Fabrinet by 77.1% in the 3rd quarter. Intrust Bank NA now owns 8,781 shares of the technology company’s stock valued at $325,000 after acquiring an additional 3,822 shares in the last quarter. 95.57% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet (FN) opened at $28.09 on Thursday. The company has a current ratio of 2.84, a quick ratio of 1.99 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1,060.00, a PE ratio of 11.95, a PEG ratio of 1.15 and a beta of 0.75. Fabrinet has a 1 year low of $24.02 and a 1 year high of $49.63.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.70 by $0.02. The firm had revenue of $337.10 million for the quarter, compared to analyst estimates of $329.41 million. Fabrinet had a return on equity of 12.96% and a net margin of 6.24%. The company’s revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 EPS. sell-side analysts anticipate that Fabrinet will post 2.12 earnings per share for the current fiscal year.

Fabrinet declared that its board has initiated a stock repurchase program on Monday, February 5th that authorizes the company to buyback $30.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In related news, insider David T. Mitchell sold 8,600 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $30.02, for a total transaction of $258,172.00. Following the transaction, the insider now directly owns 111,057 shares in the company, valued at approximately $3,333,931.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David T. Mitchell sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $30.93, for a total value of $1,546,500.00. Following the transaction, the insider now owns 111,057 shares in the company, valued at $3,434,993.01. The disclosure for this sale can be found here. Insiders have sold a total of 160,422 shares of company stock worth $4,838,313 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

Several research firms have weighed in on FN. ValuEngine raised Fabrinet from a “hold” rating to a “buy” rating in a report on Thursday, February 8th. Needham & Company LLC reiterated a “strong-buy” rating and set a $40.00 price objective (down from $45.00) on shares of Fabrinet in a research report on Tuesday, February 6th. Northland Securities set a $37.00 price objective on Fabrinet and gave the company a “buy” rating in a research report on Monday, January 29th. Stifel Nicolaus reduced their price objective on Fabrinet from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 24th. Finally, B. Riley reduced their price objective on Fabrinet from $46.50 to $42.50 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $41.25.

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Fabrinet Profile

Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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