NBC Securities Inc. Has $49,000 Holdings in Fabrinet (NYSE:FN)

NBC Securities Inc. lifted its position in Fabrinet (NYSE:FN) by 732.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 208 shares of the technology company’s stock after acquiring an additional 183 shares during the quarter. NBC Securities Inc.’s holdings in Fabrinet were worth $49,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cim LLC lifted its position in shares of Fabrinet by 1.0% in the second quarter. Cim LLC now owns 5,980 shares of the technology company’s stock worth $1,344,000 after purchasing an additional 61 shares in the last quarter. Xponance Inc. grew its holdings in shares of Fabrinet by 3.5% during the 2nd quarter. Xponance Inc. now owns 2,308 shares of the technology company’s stock valued at $565,000 after acquiring an additional 78 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Fabrinet by 60.6% during the first quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock worth $55,000 after acquiring an additional 109 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Fabrinet by 1.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,780 shares of the technology company’s stock valued at $1,904,000 after purchasing an additional 114 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Fabrinet in the second quarter valued at about $28,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Buying and Selling

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the 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 completion of the sale, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at $1,835,426.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Fabrinet 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 transaction of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Csaba Sverha sold 100 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 44,728 shares of company stock valued at $11,645,062. Insiders own 0.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FN shares. Jefferies Financial Group began coverage on Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target for the company. JPMorgan Chase & Co. lifted their target price on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research note 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 report on Tuesday, August 20th. B. Riley raised their price target on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC lifted their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $219.00.

Fabrinet Trading Down 8.9 %

Shares of Fabrinet stock opened at $243.02 on Monday. The firm has a fifty day simple moving average of $237.83 and a 200-day simple moving average of $225.95. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 32.27 and a beta of 0.95. Fabrinet has a 1-year low of $149.19 and a 1-year 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, topping the consensus estimate of $2.06 by $0.35. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The firm had revenue of $753.26 million for the quarter, compared to the consensus estimate of $732.63 million. During the same quarter last year, the firm posted $1.68 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, research analysts predict that Fabrinet will post 9.11 earnings per share for the current year.

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.