Inspire Investing LLC Purchases Shares of 2,012 Fabrinet (NYSE:FN)

Inspire Investing LLC bought a new position in shares of Fabrinet (NYSE:FN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,012 shares of the technology company’s stock, valued at approximately $492,000.

Several other hedge funds have also modified their holdings of FN. Congress Asset Management Co. MA purchased a new stake in shares of Fabrinet during the 4th quarter worth about $99,045,000. TD Asset Management Inc boosted its stake in shares of Fabrinet by 216.1% during the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after acquiring an additional 280,145 shares in the last quarter. Epoch Investment Partners Inc. raised its position in shares of Fabrinet by 291.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock worth $52,081,000 after purchasing an additional 205,057 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Fabrinet during the 1st quarter worth about $15,637,000. Finally, Rice Hall James & Associates LLC raised its position in shares of Fabrinet by 89.1% during the 2nd quarter. Rice Hall James & Associates LLC now owns 134,519 shares of the technology company’s stock worth $32,929,000 after purchasing an additional 63,398 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Trading Down 1.2 %

FN stock opened at $231.53 on Friday. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 30.75 and a beta of 0.96. Fabrinet has a 12 month low of $149.19 and a 12 month high of $278.38. The firm has a 50-day moving average of $229.29 and a two-hundred day moving average of $219.26.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, beating 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 business had revenue of $753.26 million during the quarter, compared to analysts’ expectations of $732.63 million. During the same quarter in the prior year, the company posted $1.68 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities analysts forecast that Fabrinet will post 9.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target for the company. Rosenblatt Securities upped their price target 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. Needham & Company LLC upped their price target 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. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Finally, B. Riley increased 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. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Fabrinet presently has an average rating of “Hold” and a consensus target price of $219.00.

Insider Activity

In other news, CEO Seamus Grady sold 26,650 shares of the 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 37,643 shares of the company’s stock, valued at approximately $10,163,610. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Csaba Sverha sold 100 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.00, for a total transaction of $27,000.00. Following the transaction, the chief financial officer now directly owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. The disclosure for this sale can be found here. Insiders sold a total of 44,728 shares of company stock valued at $11,645,062 in the last 90 days. Company insiders own 0.51% of the company’s stock.

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.