Sanctuary Advisors LLC Buys Shares of 1,969 Fabrinet (NYSE:FN)

Sanctuary Advisors LLC bought a new stake in shares of Fabrinet (NYSE:FN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,969 shares of the technology company’s stock, valued at approximately $482,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Clearbridge Investments LLC purchased a new stake in Fabrinet in the second quarter worth approximately $27,911,000. Cetera Investment Advisers boosted its holdings in Fabrinet by 41.1% in the second quarter. Cetera Investment Advisers now owns 11,166 shares of the technology company’s stock worth $2,733,000 after purchasing an additional 3,254 shares during the last quarter. Truist Financial Corp boosted its holdings in Fabrinet by 14.9% in the second quarter. Truist Financial Corp now owns 5,871 shares of the technology company’s stock worth $1,437,000 after purchasing an additional 761 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in Fabrinet in the second quarter worth approximately $49,000. Finally, Capital Impact Advisors LLC purchased a new stake in Fabrinet in the second quarter worth approximately $717,000. Institutional investors own 97.38% of the company’s stock.

Insider Activity

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of Fabrinet 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 directly owns 19,347 shares in the company, valued at approximately $5,223,690. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Fabrinet news, CFO Csaba Sverha sold 100 shares of Fabrinet 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 directly owns 19,347 shares in the company, valued at approximately $5,223,690. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the completion of the sale, the chief executive officer now owns 37,643 shares in the company, valued at approximately $10,163,610. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock worth $11,645,062 in the last three months. Company insiders own 0.51% of the company’s stock.

Fabrinet Price Performance

Shares of FN stock opened at $262.53 on Thursday. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 34.86 and a beta of 0.95. Fabrinet has a one year low of $149.19 and a one year high of $278.38. The company’s fifty day moving average price is $235.92 and its 200-day moving average price is $224.75.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 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 the consensus estimate of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm earned $1.68 EPS. Equities research analysts expect that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FN. B. Riley lifted their price target 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. JPMorgan Chase & Co. lifted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Jefferies Financial Group began coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target on the stock. Rosenblatt Securities lifted their price target 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. Finally, Needham & Company LLC lifted their price target on shares of Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Fabrinet presently has a consensus rating of “Hold” and an average target price 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.