Rhumbline Advisers increased its position in shares of Fabrinet (NYSE:FN) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,187 shares of the technology company’s stock after purchasing an additional 3,691 shares during the period. Rhumbline Advisers owned approximately 0.24% of Fabrinet worth $3,216,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FN. Frontier Capital Management Co. LLC raised its holdings in Fabrinet by 458.7% during the second quarter. Frontier Capital Management Co. LLC now owns 1,477,476 shares of the technology company’s stock worth $54,504,000 after purchasing an additional 1,213,046 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in Fabrinet during the second quarter worth about $17,050,000. Dimensional Fund Advisors LP raised its holdings in Fabrinet by 15.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,623,670 shares of the technology company’s stock worth $82,331,000 after purchasing an additional 348,728 shares in the last quarter. Nuveen Asset Management LLC purchased a new position in Fabrinet during the first quarter worth about $8,632,000. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Fabrinet by 12.3% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,193,501 shares of the technology company’s stock worth $37,453,000 after purchasing an additional 130,571 shares in the last quarter. 97.70% of the stock is owned by hedge funds and other institutional investors.
In other Fabrinet news, CFO Toh-Seng Ng sold 20,000 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $47.95, for a total value of $959,000.00. Following the completion of the transaction, the chief financial officer now directly owns 157,340 shares of the company’s stock, valued at $7,544,453. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David T. Mitchell sold 40,000 shares of the stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $36.51, for a total transaction of $1,460,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 205,000 shares of company stock valued at $8,956,150. 3.30% of the stock is currently owned by corporate insiders.
Shares of Fabrinet stock opened at $46.20 on Friday. Fabrinet has a 12-month low of $24.02 and a 12-month high of $48.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.16 and a quick ratio of 2.21. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 1.25 and a beta of 0.64.
Fabrinet (NYSE:FN) last issued its earnings results on Monday, August 20th. The technology company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.06. Fabrinet had a net margin of 6.14% and a return on equity of 12.68%. The company had revenue of $345.30 million during the quarter, compared to analysts’ expectations of $338.12 million. During the same period last year, the company posted $0.86 earnings per share. The firm’s quarterly revenue was down 6.8% compared to the same quarter last year. sell-side analysts predict that Fabrinet will post 3.12 earnings per share for the current year.
Several research analysts recently issued reports on the stock. Needham & Company LLC increased their price target on shares of Fabrinet from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley cut shares of Fabrinet from a “buy” rating to a “neutral” rating and set a $52.00 price target for the company. in a report on Tuesday. Zacks Investment Research cut shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Friday, August 24th. ValuEngine raised shares of Fabrinet from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Finally, Piper Jaffray Companies increased their price target on shares of Fabrinet from $42.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday, August 21st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.86.
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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.
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