Algert Global LLC Acquires 2,869 Shares of Fabrinet (NYSE:FN)

Algert Global LLC lifted its holdings in Fabrinet (NYSE:FN) by 11.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,663 shares of the technology company’s stock after acquiring an additional 2,869 shares during the period. Algert Global LLC owned approximately 0.08% of Fabrinet worth $6,777,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet in the 2nd quarter valued at about $28,000. Huntington National Bank boosted its stake in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Fabrinet during 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. Finally, NBC Securities Inc. boosted its stake in Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after purchasing an additional 183 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction dated 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 owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The trade was a 51.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Csaba Sverha sold 100 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. The trade was a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FN. Needham & Company LLC began coverage on Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target for the company. Rosenblatt Securities lifted 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. 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. Barclays began coverage on Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price target for the company. Finally, B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and cut their target price for the stock from $194.00 to $178.00 in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Fabrinet presently has an average rating of “Hold” and a consensus price target of $252.14.

Fabrinet Stock Up 0.2 %

Shares of NYSE FN opened at $230.43 on Friday. Fabrinet has a twelve month low of $159.30 and a twelve month high of $278.38. The stock’s 50 day moving average price is $244.00 and its 200-day moving average price is $237.53. The company has a market capitalization of $8.36 billion, a PE ratio of 27.27 and a beta of 0.95.

Fabrinet (NYSE:FN) last posted its quarterly 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 company had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. Fabrinet’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 EPS. As a group, research analysts expect that Fabrinet will post 9.1 EPS for the current fiscal 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 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.