Fabrinet (NYSE:FN) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its holdings in shares of Fabrinet (NYSE:FN) by 33.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 107,031 shares of the technology company’s stock after acquiring an additional 26,963 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.30% of Fabrinet worth $26,200,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in FN. Parallel Advisors LLC boosted its stake in Fabrinet by 59.7% in the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after acquiring an additional 77 shares in the last quarter. New York State Teachers Retirement System grew its position in Fabrinet by 0.3% during the 1st quarter. New York State Teachers Retirement System now owns 29,950 shares of the technology company’s stock worth $5,661,000 after purchasing an additional 100 shares during the last quarter. GAMMA Investing LLC increased its stake in Fabrinet by 60.6% in the first quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after purchasing an additional 109 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Fabrinet by 1.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,780 shares of the technology company’s stock valued at $1,904,000 after buying an additional 114 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet during the second quarter worth about $28,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FN has been the topic of several recent research reports. Rosenblatt Securities boosted their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price target on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Needham & Company LLC lifted their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. B. Riley upped their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on shares of Fabrinet in a report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $219.00.

Fabrinet Stock Down 1.2 %

Shares of NYSE FN opened at $231.56 on Friday. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 30.75 and a beta of 0.96. Fabrinet has a 52 week low of $149.19 and a 52 week high of $278.38. The firm has a 50-day moving average price of $229.29 and a 200 day moving average price of $219.25.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.06 by $0.35. The business had revenue of $753.26 million for the quarter, compared to analyst estimates of $732.63 million. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.68 EPS. Equities research analysts expect that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Edward T. Archer sold 8,690 shares of the company’s 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 sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Csaba Sverha sold 100 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the sale, the chief financial officer now owns 19,347 shares in the company, valued at approximately $5,223,690. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock valued at $11,645,062 in the last 90 days. 0.51% of the stock is currently owned by insiders.

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.