Kimelman & Baird LLC Takes Position in Fabrinet (NYSE:FN)

Kimelman & Baird LLC purchased a new position in shares of Fabrinet (NYSE:FN) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 200 shares of the technology company’s stock, valued at approximately $49,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new stake in shares of Fabrinet during the second quarter worth about $28,000. Banque Cantonale Vaudoise bought a new stake in Fabrinet during the 2nd quarter worth approximately $35,000. Parallel Advisors LLC raised its stake in shares of Fabrinet by 59.7% in the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after purchasing an additional 77 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Fabrinet by 60.6% in the first quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock worth $55,000 after purchasing an additional 109 shares during the last quarter. Finally, UMB Bank n.a. bought a new position in shares of Fabrinet in the first quarter valued at approximately $57,000. Institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on FN shares. B. Riley increased their price target on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Rosenblatt Securities raised their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price objective for the company. 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. Finally, JPMorgan Chase & Co. upped their target price on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $219.00.

Insider Transactions at Fabrinet

In related news, CFO Csaba Sverha sold 9,288 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the sale, the chief financial officer now directly owns 19,768 shares in the company, valued at approximately $5,338,941.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction dated 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Csaba Sverha sold 9,288 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now owns 19,768 shares in the company, valued at $5,338,941.44. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock worth $11,645,062 over the last quarter. Corporate insiders own 0.51% of the company’s stock.

Fabrinet Trading Down 1.4 %

NYSE:FN opened at $236.32 on Tuesday. Fabrinet has a 12 month low of $149.19 and a 12 month high of $278.38. The firm’s 50 day moving average is $227.68 and its 200 day moving average is $220.11. The stock has a market capitalization of $8.54 billion, a PE ratio of 31.38 and a beta of 0.96.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.35. The firm 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 business’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.68 earnings per share. Research analysts predict that Fabrinet will post 9.11 earnings per share for the current 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.