Janney Montgomery Scott LLC Sells 1,500 Shares of Fabrinet (NYSE:FN)

Janney Montgomery Scott LLC lessened its position in Fabrinet (NYSE:FN) by 31.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,197 shares of the technology company’s stock after selling 1,500 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Fabrinet were worth $756,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust increased its holdings in shares of Fabrinet by 71.5% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 69,556 shares of the technology company’s stock worth $16,446,000 after purchasing an additional 29,003 shares during the period. Silvant Capital Management LLC increased its holdings in shares of Fabrinet by 43.0% during the 3rd quarter. Silvant Capital Management LLC now owns 9,397 shares of the technology company’s stock worth $2,222,000 after purchasing an additional 2,826 shares during the period. Farther Finance Advisors LLC increased its stake in Fabrinet by 13.3% in the third quarter. Farther Finance Advisors LLC now owns 860 shares of the technology company’s stock valued at $203,000 after acquiring an additional 101 shares during the period. Oak Ridge Investments LLC bought a new stake in Fabrinet in the third quarter valued at about $2,661,000. Finally, DekaBank Deutsche Girozentrale increased its stake in Fabrinet by 3,831.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock valued at $19,465,000 after acquiring an additional 80,000 shares during the period. Institutional investors own 97.38% of the company’s stock.

Insider Activity at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the completion of the sale, the chief executive officer now owns 37,643 shares of the company’s stock, valued at approximately $10,163,610. This represents a 41.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Csaba Sverha sold 100 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,223,690. The trade was a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock worth $11,645,062 over the last ninety days. Company insiders own 0.38% of the company’s stock.

Fabrinet Stock Down 6.8 %

NYSE:FN opened at $234.85 on Monday. The firm has a market cap of $8.52 billion, a PE ratio of 27.79 and a beta of 0.95. Fabrinet has a 12 month low of $159.30 and a 12 month high of $278.38. The company’s 50-day moving average price is $242.35 and its two-hundred day moving average price is $236.02.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The company had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same period in the prior year, the business earned $1.78 earnings per share. Fabrinet’s quarterly revenue was up 17.3% on a year-over-year basis. On average, research analysts expect that Fabrinet will post 9.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FN. Barclays began coverage on shares of Fabrinet in a research note on Thursday. They issued an “equal weight” rating and a $292.00 target price on the stock. B. Riley lowered their target price on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 5th. Rosenblatt Securities upped their target price on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. upped 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. Finally, Needham & Company LLC began coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $254.43.

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.