Fabrinet (NYSE:FN) Shares Sold by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC decreased its position in shares of Fabrinet (NYSE:FN) by 32.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,952 shares of the technology company’s stock after selling 6,703 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Fabrinet were worth $3,299,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Fabrinet during the second quarter valued at $28,000. Banque Cantonale Vaudoise bought a new position in Fabrinet in the 2nd quarter valued at about $35,000. Kimelman & Baird LLC acquired a new position in Fabrinet during the 2nd quarter valued at about $49,000. NBC Securities Inc. raised its position in shares of Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after buying an additional 183 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake 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 acquiring an additional 172 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Trading Down 1.0 %

Shares of Fabrinet stock traded down $2.45 on Thursday, reaching $244.20. 67,818 shares of the company were exchanged, compared to its average volume of 480,582. Fabrinet has a fifty-two week low of $149.19 and a fifty-two week high of $278.38. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 32.76 and a beta of 0.95. The stock has a fifty day moving average price of $239.85 and a 200-day moving average price of $226.95.

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

Insider Buying and Selling

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the business’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 sale, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the transaction, the chief financial officer now directly owns 19,768 shares in the company, valued at $5,338,941.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 transaction of $1,914,059.40. Following the completion of the transaction, the executive vice president now directly 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 90 days, insiders sold 44,728 shares of company stock valued at $11,645,062. Company insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Needham & Company LLC raised their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Rosenblatt Securities lifted their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. B. Riley boosted their price objective on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $219.00.

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 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.