1,085 Shares in Fabrinet (NYSE:FN) Acquired by Sage Rhino Capital LLC

Sage Rhino Capital LLC purchased a new stake in Fabrinet (NYSE:FN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,085 shares of the technology company’s stock, valued at approximately $266,000.

Several other institutional investors have also modified their holdings of FN. California Public Employees Retirement System grew its stake in shares of Fabrinet by 3.1% during the fourth quarter. California Public Employees Retirement System now owns 60,275 shares of the technology company’s stock worth $11,472,000 after purchasing an additional 1,805 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Fabrinet during the 4th quarter worth about $34,000. Atria Wealth Solutions Inc. purchased a new stake in Fabrinet during the fourth quarter worth approximately $476,000. Truist Financial Corp boosted its holdings in Fabrinet by 178.9% in the fourth quarter. Truist Financial Corp now owns 5,463 shares of the technology company’s stock valued at $1,040,000 after purchasing an additional 3,504 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Fabrinet by 36.6% in the fourth quarter. Van ECK Associates Corp now owns 10,472 shares of the technology company’s stock valued at $1,993,000 after purchasing an additional 2,804 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Activity at Fabrinet

In related news, CFO Csaba Sverha sold 100 shares of the business’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 transaction, the chief financial officer now directly owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the completion of the transaction, the chief executive officer now directly owns 37,643 shares in the company, valued at approximately $10,163,610. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction 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 sale, the chief financial officer now owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,038 shares of company stock worth $9,731,003. Company insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

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

Fabrinet Stock Up 0.3 %

Shares of FN traded up $0.78 on Friday, hitting $243.65. 411,492 shares of the stock traded hands, compared to its average volume of 445,264. The stock’s 50 day moving average is $234.96 and its two-hundred day moving average is $216.93. The firm has a market capitalization of $8.81 billion, a P/E ratio of 32.36 and a beta of 0.96. Fabrinet has a 1 year low of $146.65 and a 1 year high of $278.38.

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. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. The company had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. During the same quarter in the prior year, the company posted $1.68 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts forecast that Fabrinet will post 7.95 EPS for the current year.

About Fabrinet

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.