Mutual of America Capital Management LLC Has $7.54 Million Position in Fabrinet (NYSE:FN)

Mutual of America Capital Management LLC lifted its holdings in shares of Fabrinet (NYSE:FN) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,814 shares of the technology company’s stock after buying an additional 429 shares during the period. Mutual of America Capital Management LLC owned about 0.09% of Fabrinet worth $7,543,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Principal Securities Inc. bought a new position in shares of Fabrinet in the fourth quarter valued at $65,000. Janney Montgomery Scott LLC grew its position in shares of Fabrinet by 211.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,516 shares of the technology company’s stock valued at $860,000 after acquiring an additional 3,068 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Fabrinet during the 4th quarter worth about $473,000. Trexquant Investment LP bought a new stake in shares of Fabrinet in the 4th quarter valued at about $563,000. Finally, Franklin Resources Inc. acquired a new stake in Fabrinet in the 4th quarter valued at about $1,421,000. Institutional investors own 97.38% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FN. Needham & Company LLC lifted their target price on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. B. Riley upped their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their target price 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 started coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target on the stock. Finally, Rosenblatt Securities raised their price objective 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. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $219.00.

Insider Buying and Selling at Fabrinet

In other 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 completion of the sale, the chief financial officer now owns 19,768 shares of the company’s stock, valued at approximately $5,338,941.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $1,914,059.40. Following the transaction, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.08, for a total value of $2,508,503.04. Following the transaction, the chief financial officer now directly owns 19,768 shares of the company’s stock, valued at approximately $5,338,941.44. The disclosure for this sale can be found here. Insiders have sold a total of 44,728 shares of company stock valued at $11,645,062 in the last ninety days. 0.51% of the stock is currently owned by company insiders.

Fabrinet Trading Up 2.3 %

Shares of FN stock opened at $234.21 on Friday. The stock has a market cap of $8.47 billion, a P/E ratio of 31.10 and a beta of 0.96. Fabrinet has a 1 year low of $149.19 and a 1 year high of $278.38. The stock has a 50 day simple moving average of $229.69 and a 200 day simple moving average of $219.20.

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

Fabrinet 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.