13,203 Shares in Fabrinet (NYSE:FN) Bought by Atom Investors LP

Atom Investors LP purchased a new stake in Fabrinet (NYSE:FN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,203 shares of the technology company’s stock, valued at approximately $3,122,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Advisors LLC raised its position in Fabrinet by 54.0% during the first quarter. Cetera Advisors LLC now owns 3,606 shares of the technology company’s stock valued at $682,000 after acquiring an additional 1,265 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Fabrinet by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 457 shares of the technology company’s stock valued at $112,000 after purchasing an additional 168 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Fabrinet by 167.6% during the second quarter. Harbor Capital Advisors Inc. now owns 7,206 shares of the technology company’s stock worth $1,764,000 after buying an additional 4,513 shares in the last quarter. Park Avenue Securities LLC grew its position in Fabrinet by 68.6% during the second quarter. Park Avenue Securities LLC now owns 6,533 shares of the technology company’s stock valued at $1,599,000 after buying an additional 2,658 shares during the period. Finally, CWM LLC raised its position in shares of Fabrinet by 71.8% in the second quarter. CWM LLC now owns 531 shares of the technology company’s stock worth $130,000 after acquiring an additional 222 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on FN shares. JPMorgan Chase & Co. lifted their price target on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Needham & Company LLC assumed coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective for the company. Rosenblatt Securities increased their target price 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 lowered shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the stock from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Barclays started coverage on shares of Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $252.14.

Fabrinet Price Performance

Shares of NYSE:FN opened at $234.58 on Monday. Fabrinet has a 12 month low of $159.30 and a 12 month high of $278.38. The firm has a market capitalization of $8.51 billion, a P/E ratio of 27.76 and a beta of 0.95. The company’s fifty day moving average price is $244.01 and its 200 day moving average price is $238.06.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. The business had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.78 earnings per share. On average, sell-side analysts anticipate that Fabrinet will post 9.1 EPS for the current year.

Insider Activity

In other news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the sale, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This represents a 51.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.38% of the company’s stock.

Fabrinet 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.