TD Asset Management Inc Has $99.13 Million Holdings in Fabrinet (NYSE:FN)

TD Asset Management Inc decreased its holdings in Fabrinet (NYSE:FN) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 404,961 shares of the technology company’s stock after selling 4,800 shares during the period. TD Asset Management Inc’s holdings in Fabrinet were worth $99,130,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Opal Wealth Advisors LLC purchased a new position in Fabrinet during the second quarter valued at approximately $28,000. Banque Cantonale Vaudoise purchased a new stake in Fabrinet in the 2nd quarter worth approximately $35,000. Parallel Advisors LLC boosted its stake in shares of Fabrinet by 59.7% during the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after buying an additional 77 shares during the period. GAMMA Investing LLC grew its holdings in shares of Fabrinet by 60.6% during the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after acquiring an additional 109 shares in the last quarter. Finally, UMB Bank n.a. acquired a new position in shares of Fabrinet in the first quarter worth $57,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fabrinet

In other news, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction dated 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 transaction, the chief executive officer now directly owns 37,643 shares in the company, valued at $10,163,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Seamus Grady sold 26,650 shares of the firm’s stock in a transaction on 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 owns 37,643 shares in the company, valued at $10,163,610. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock worth $11,645,062 over the last ninety days. Company insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

FN has been the subject of a number of research reports. B. Riley lifted their price objective on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Rosenblatt Securities boosted their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Needham & Company LLC increased their price objective on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. lifted their target price on shares of 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 initiated coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $219.00.

Fabrinet Stock Down 0.2 %

Shares of Fabrinet stock opened at $224.82 on Friday. Fabrinet has a 12-month low of $146.65 and a 12-month high of $278.38. The stock has a 50 day moving average price of $233.78 and a two-hundred day moving average price of $217.76. The stock has a market capitalization of $8.13 billion, a P/E ratio of 29.86 and a beta of 0.96.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.35. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The business had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. During the same period in the prior year, the firm earned $1.68 EPS. Fabrinet’s quarterly revenue was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that Fabrinet will post 9.11 earnings per share for the current year.

About Fabrinet

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.