Triumph Capital Management Sells 2,021 Shares of Fabrinet $FN

Triumph Capital Management trimmed its position in shares of Fabrinet (NYSE:FN) by 93.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 141 shares of the technology company’s stock after selling 2,021 shares during the quarter. Triumph Capital Management’s holdings in Fabrinet were worth $60,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Continuum Advisory LLC purchased a new position in Fabrinet during the second quarter valued at $25,000. Byrne Asset Management LLC purchased a new stake in shares of Fabrinet in the 3rd quarter worth about $27,000. Cassaday & Co Wealth Management LLC purchased a new stake in shares of Fabrinet in the 1st quarter worth about $31,000. Sunbelt Securities Inc. bought a new position in shares of Fabrinet in the 1st quarter worth about $66,000. Finally, Root Financial Partners LLC increased its stake in shares of Fabrinet by 29.2% in the 1st quarter. Root Financial Partners LLC now owns 146 shares of the technology company’s stock worth $76,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 5.5%

NYSE:FN traded down $21.00 on Friday, reaching $364.20. 1,044,213 shares of the stock traded hands, compared to its average volume of 904,416. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 27.91 and a beta of 1.23. Fabrinet has a 12 month low of $362.64 and a 12 month high of $748.89. The company’s fifty day simple moving average is $439.18 and its 200 day simple moving average is $538.71.

Fabrinet (NYSE:FN) last issued its earnings results on Tuesday, August 18th. The technology company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.81 by $0.29. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the company earned $2.65 earnings per share. The business’s revenue for the quarter was up 44.6% compared to the same quarter last year. Equities analysts anticipate that Fabrinet will post 17.50 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In other news, EVP Edward Archer sold 2,500 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $385.91, for a total value of $964,775.00. Following the completion of the transaction, the executive vice president owned 7,007 shares in the company, valued at $2,704,071.37. The trade was a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

FN has been the subject of several recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $650.00 target price on shares of Fabrinet in a report on Tuesday, August 18th. Zacks Research raised Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. Rosenblatt Securities restated a “buy” rating and issued a $750.00 price target on shares of Fabrinet in a research note on Tuesday, August 18th. Weiss Ratings lowered Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 9th. Finally, Fox Advisors upgraded Fabrinet from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Fabrinet currently has an average rating of “Moderate Buy” and a consensus price target of $646.88.

Fabrinet Profile

Fabrinet (NYSE: FN) provides advanced manufacturing services for companies that develop optical, electro-optical, and precision-engineered products. The company supports customers from product design and engineering through manufacturing, assembly, testing, and supply-chain management.

Its products and manufacturing capabilities include optical communications components, modules, and assemblies; precision optical and optoelectronic systems; industrial lasers; and other complex products used in communications, industrial, automotive, medical, and other technology markets.