Olympiad Research LP Boosts Stock Holdings in Fabrinet (NYSE:FN)

Olympiad Research LP grew its position in shares of Fabrinet (NYSE:FN) by 89.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,047 shares of the technology company’s stock after acquiring an additional 967 shares during the quarter. Olympiad Research LP’s holdings in Fabrinet were worth $484,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of FN. Legacy Wealth Asset Management LLC boosted its holdings in shares of Fabrinet by 3.2% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after buying an additional 43 shares during the last quarter. Wolff Wiese Magana LLC increased its position in shares of Fabrinet by 2.7% during the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock valued at $417,000 after buying an additional 47 shares during the period. Trust Point Inc. increased its position in shares of Fabrinet by 4.7% during the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock valued at $301,000 after buying an additional 57 shares during the period. Cim LLC increased its position in shares of Fabrinet by 1.0% during the second quarter. Cim LLC now owns 5,980 shares of the technology company’s stock valued at $1,344,000 after buying an additional 61 shares during the period. Finally, Ausbil Investment Management Ltd increased its position in shares of Fabrinet by 0.5% during the third quarter. Ausbil Investment Management Ltd now owns 14,741 shares of the technology company’s stock valued at $3,485,000 after buying an additional 76 shares during the period. 97.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Fabrinet

In other news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.00, for a total transaction of $27,000.00. Following the completion of the transaction, the chief financial officer now owns 19,347 shares of the company’s stock, valued at $5,223,690. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,728 shares of company stock valued at $11,645,062. Corporate insiders own 0.38% of the company’s stock.

Fabrinet Trading Up 7.2 %

Shares of NYSE FN opened at $246.72 on Thursday. The firm has a fifty day simple moving average of $238.55 and a two-hundred day simple moving average of $231.81. The firm has a market capitalization of $8.95 billion, a PE ratio of 29.20 and a beta of 0.95. Fabrinet has a 12 month low of $157.55 and a 12 month high of $278.38.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a return on equity of 18.50% and a net margin of 10.28%. The business had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. During the same period in the previous year, the firm posted $1.78 EPS. The business’s revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts predict that Fabrinet will post 9.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FN. Needham & Company LLC began coverage on Fabrinet in a research report on Tuesday. They set a “buy” rating and a $280.00 price target on the stock. B. Riley cut their target price on Fabrinet from $196.00 to $194.00 and set a “neutral” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. upped their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities upped their target price on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.17.

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.