Public Sector Pension Investment Board Has $19.46 Million Holdings in Fabrinet (NYSE:FN)

Public Sector Pension Investment Board boosted its position in Fabrinet (NYSE:FN) by 6.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,515 shares of the technology company’s stock after buying an additional 5,091 shares during the period. Public Sector Pension Investment Board owned approximately 0.22% of Fabrinet worth $19,464,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of FN. Congress Asset Management Co. MA bought a new stake in shares of Fabrinet during the 4th quarter valued at about $99,045,000. TD Asset Management Inc boosted its position in shares of Fabrinet by 216.1% during the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after purchasing an additional 280,145 shares in the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Fabrinet by 291.0% in the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock valued at $52,081,000 after buying an additional 205,057 shares during the period. Kennedy Capital Management LLC bought a new stake in Fabrinet in the 1st quarter valued at about $15,637,000. Finally, Rice Hall James & Associates LLC raised its stake in Fabrinet by 89.1% during the 2nd quarter. Rice Hall James & Associates LLC now owns 134,519 shares of the technology company’s stock worth $32,929,000 after buying an additional 63,398 shares during the period. Institutional investors own 97.38% of the company’s stock.

Analyst Ratings Changes

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

Fabrinet Stock Down 1.2 %

FN opened at $231.56 on Monday. The company has a market capitalization of $8.37 billion, a price-to-earnings ratio of 30.75 and a beta of 0.96. The firm has a 50-day moving average price of $229.29 and a 200-day moving average price of $219.21. Fabrinet has a twelve month low of $149.19 and a twelve month high of $278.38.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. The firm had revenue of $753.26 million during 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 business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share. On average, sell-side analysts expect that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Insider Transactions at Fabrinet

In other news, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at $5,223,690. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.00, for a total value of $7,195,500.00. Following the transaction, the chief executive officer now owns 37,643 shares of the company’s stock, valued at $10,163,610. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,728 shares of company stock valued at $11,645,062. 0.51% of the stock is currently owned by corporate 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.