C M Bidwell & Associates Ltd. bought a new position in shares of Fabrinet (NYSE:FN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,645 shares of the technology company’s stock, valued at approximately $169,000.
Several other large investors also recently bought and sold shares of FN. Riverhead Capital Management LLC boosted its holdings in shares of Fabrinet by 24.7% during the third quarter. Riverhead Capital Management LLC now owns 5,552 shares of the technology company’s stock worth $257,000 after purchasing an additional 1,100 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Fabrinet by 156.0% during the third quarter. JPMorgan Chase & Co. now owns 563,241 shares of the technology company’s stock worth $26,056,000 after purchasing an additional 343,213 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Fabrinet by 4.1% during the third quarter. Dimensional Fund Advisors LP now owns 3,050,767 shares of the technology company’s stock worth $141,129,000 after purchasing an additional 119,326 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Fabrinet during the third quarter worth about $110,000. Finally, Panagora Asset Management Inc. boosted its holdings in shares of Fabrinet by 16.2% during the third quarter. Panagora Asset Management Inc. now owns 158,582 shares of the technology company’s stock worth $7,336,000 after purchasing an additional 22,113 shares during the period. Hedge funds and other institutional investors own 93.50% of the company’s stock.
In other Fabrinet news, CEO Seamus Grady sold 6,081 shares of the firm’s stock in a transaction dated Thursday, November 15th. The shares were sold at an average price of $51.54, for a total value of $313,414.74. Following the completion of the sale, the chief executive officer now directly owns 67,726 shares in the company, valued at $3,490,598.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David T. Mitchell sold 40,000 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $45.40, for a total transaction of $1,816,000.00. The disclosure for this sale can be found here. Insiders sold 109,560 shares of company stock valued at $5,451,323 over the last 90 days. 1.90% of the stock is currently owned by company insiders.
A number of analysts have recently weighed in on FN shares. Stifel Nicolaus started coverage on shares of Fabrinet in a report on Monday, October 22nd. They set a “buy” rating and a $53.00 target price for the company. Needham & Company LLC increased their target price on shares of Fabrinet from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. ValuEngine upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. B. Riley lowered shares of Fabrinet from a “buy” rating to a “neutral” rating and set a $52.00 target price for the company. in a report on Tuesday, September 4th. Finally, Piper Jaffray Companies increased their target price on shares of Fabrinet from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, August 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $50.17.
Shares of FN opened at $52.16 on Thursday. The company has a quick ratio of 2.09, a current ratio of 3.00 and a debt-to-equity ratio of 0.08. Fabrinet has a one year low of $24.02 and a one year high of $54.70. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of 19.61, a P/E/G ratio of 1.28 and a beta of 0.65.
Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, November 5th. The technology company reported $0.92 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.24. Fabrinet had a net margin of 6.54% and a return on equity of 13.53%. The business had revenue of $377.00 million during the quarter, compared to analyst estimates of $352.28 million. During the same period last year, the business posted $0.75 earnings per share. Fabrinet’s quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts predict that Fabrinet will post 3.12 EPS for the current fiscal year.
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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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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