Fabrinet (NYSE:FN) Shares Sold by Paradigm Capital Management Inc. NY

Paradigm Capital Management Inc. NY decreased its position in shares of Fabrinet (NYSE:FN) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 537,900 shares of the technology company’s stock after selling 2,000 shares during the period. Fabrinet comprises 6.0% of Paradigm Capital Management Inc. NY’s investment portfolio, making the stock its 3rd biggest position. Paradigm Capital Management Inc. NY owned approximately 1.49% of Fabrinet worth $131,673,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of Fabrinet by 59.7% during the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after acquiring an additional 77 shares during the period. Xponance Inc. increased its holdings in Fabrinet by 3.5% during the 2nd quarter. Xponance Inc. now owns 2,308 shares of the technology company’s stock worth $565,000 after purchasing an additional 78 shares during the period. New York State Teachers Retirement System raised its position in Fabrinet by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 29,950 shares of the technology company’s stock valued at $5,661,000 after purchasing an additional 100 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Fabrinet by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after buying an additional 109 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Fabrinet by 1.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,780 shares of the technology company’s stock worth $1,904,000 after buying an additional 114 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Fabrinet

In other 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 transaction of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Csaba Sverha sold 9,288 shares of Fabrinet stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total value of $2,508,503.04. Following the transaction, the chief financial officer now directly owns 19,768 shares in the company, valued at approximately $5,338,941.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,728 shares of company stock worth $11,645,062. 0.51% of the stock is owned by company insiders.

Fabrinet Stock Up 0.2 %

Shares of NYSE FN opened at $231.94 on Tuesday. The stock has a market cap of $8.38 billion, a PE ratio of 30.80 and a beta of 0.96. Fabrinet has a 52-week low of $149.19 and a 52-week high of $278.38. The business has a 50-day moving average price of $228.82 and a 200 day moving average price of $219.29.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.35. The business had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.68 earnings per share. Sell-side analysts anticipate that Fabrinet will post 9.11 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Fabrinet Company 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.