Mount Yale Investment Advisors LLC Cuts Stock Position in Fabrinet (NYSE:FN)

Mount Yale Investment Advisors LLC decreased its holdings in Fabrinet (NYSE:FN) by 4.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,223 shares of the technology company’s stock after selling 157 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Fabrinet were worth $789,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FN. Janney Montgomery Scott LLC increased its holdings in Fabrinet by 211.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,516 shares of the technology company’s stock worth $860,000 after purchasing an additional 3,068 shares during the period. Trexquant Investment LP acquired a new stake in Fabrinet in the fourth quarter valued at approximately $563,000. Franklin Resources Inc. purchased a new position in Fabrinet in the fourth quarter worth approximately $1,421,000. US Bancorp DE grew its holdings in Fabrinet by 14.2% during the 4th quarter. US Bancorp DE now owns 11,005 shares of the technology company’s stock worth $2,095,000 after acquiring an additional 1,371 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after purchasing an additional 77 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FN. B. Riley boosted their target price on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Rosenblatt Securities raised their target price on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price target on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. 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 on the stock. Finally, Needham & Company LLC upped 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 equities research 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 currently has an average rating of “Hold” and a consensus price target of $219.00.

Insider Buying and Selling at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction on 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 transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Csaba Sverha sold 100 shares of the firm’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 value of $27,000.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $1,914,059.40. Following the transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,728 shares of company stock worth $11,645,062. 0.51% of the stock is currently owned by insiders.

Fabrinet Trading Up 0.2 %

Shares of FN opened at $231.94 on Tuesday. The company’s 50 day simple moving average is $228.82 and its 200-day simple moving average is $219.29. The firm has a market cap of $8.38 billion, a PE ratio of 30.80 and a beta of 0.96. Fabrinet has a 12-month low of $149.19 and a 12-month high of $278.38.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.35. The business had revenue of $753.26 million during the quarter, compared to analysts’ expectations of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The business’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. As a group, equities research analysts forecast that Fabrinet will post 9.11 EPS for the current fiscal 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.