Fabrinet (NYSE:FN) Shares Purchased by Prudential Financial Inc.

Prudential Financial Inc. increased its stake in shares of Fabrinet (NYSE:FN) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,879 shares of the technology company’s stock after acquiring an additional 1,710 shares during the period. Prudential Financial Inc. owned about 0.17% of Fabrinet worth $3,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of FN. Magnus Financial Group LLC grew its holdings in Fabrinet by 4.8% in the first quarter. Magnus Financial Group LLC now owns 4,356 shares of the technology company’s stock valued at $228,000 after purchasing an additional 200 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Fabrinet by 1.8% in the first quarter. Oregon Public Employees Retirement Fund now owns 14,266 shares of the technology company’s stock valued at $747,000 after purchasing an additional 258 shares during the period. Arizona State Retirement System grew its holdings in Fabrinet by 0.5% in the second quarter. Arizona State Retirement System now owns 57,136 shares of the technology company’s stock valued at $2,838,000 after purchasing an additional 291 shares during the period. Stone Ridge Asset Management LLC grew its holdings in Fabrinet by 1.5% in the second quarter. Stone Ridge Asset Management LLC now owns 19,690 shares of the technology company’s stock valued at $978,000 after purchasing an additional 300 shares during the period. Finally, Advisors Asset Management Inc. grew its holdings in Fabrinet by 11.8% in the first quarter. Advisors Asset Management Inc. now owns 3,209 shares of the technology company’s stock valued at $168,000 after purchasing an additional 338 shares during the period. 95.08% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CFO Toh-Seng Ng sold 5,000 shares of Fabrinet stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $53.70, for a total transaction of $268,500.00. Following the transaction, the chief financial officer now owns 64,963 shares in the company, valued at $3,488,513.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David T. Mitchell sold 30,000 shares of Fabrinet stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $53.83, for a total value of $1,614,900.00. Following the transaction, the director now owns 73,748 shares in the company, valued at approximately $3,969,854.84. The disclosure for this sale can be found here. Insiders sold 100,206 shares of company stock worth $5,228,270 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.



Several brokerages have commented on FN. Needham & Company LLC set a $70.00 price objective on Fabrinet and gave the company a “buy” rating in a report on Monday, August 26th. Piper Jaffray Companies dropped their price objective on Fabrinet to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, August 20th. Stifel Nicolaus dropped their price objective on Fabrinet from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. Northland Securities reissued a “hold” rating and issued a $47.50 price objective on shares of Fabrinet in a report on Monday, July 1st. Finally, JPMorgan Chase & Co. began coverage on Fabrinet in a report on Monday, July 29th. They issued a “neutral” rating and a $57.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Fabrinet currently has an average rating of “Hold” and a consensus price target of $60.75.

Shares of NYSE:FN traded down $0.12 during trading on Monday, reaching $55.86. The stock had a trading volume of 5,097 shares, compared to its average volume of 564,446. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.33 and a current ratio of 3.27. The business has a fifty day moving average price of $52.24 and a 200-day moving average price of $52.83. The stock has a market cap of $2.07 billion, a PE ratio of 16.54, a PEG ratio of 1.31 and a beta of 1.10. Fabrinet has a 1-year low of $40.94 and a 1-year high of $62.31.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, August 19th. The technology company reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.09. The firm had revenue of $405.10 million for the quarter, compared to analyst estimates of $399.22 million. Fabrinet had a return on equity of 15.40% and a net margin of 7.63%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 earnings per share. Sell-side analysts expect that Fabrinet will post 3.26 earnings per share for the current year.

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 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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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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