Creative Planning Has $2.70 Million Stock Holdings in Fabrinet (NYSE:FN)

Creative Planning increased its position in shares of Fabrinet (NYSE:FN) by 21.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,033 shares of the technology company’s stock after purchasing an additional 1,931 shares during the quarter. Creative Planning’s holdings in Fabrinet were worth $2,701,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Fabrinet during the second quarter worth $28,000. Banque Cantonale Vaudoise acquired a new stake in Fabrinet in the 2nd quarter valued at about $35,000. Parallel Advisors LLC raised its stake in shares of Fabrinet by 59.7% in the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after acquiring an additional 77 shares during the last quarter. GAMMA Investing LLC lifted its position 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 purchasing an additional 109 shares in the last quarter. Finally, UMB Bank n.a. bought a new stake in shares of Fabrinet during the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

FN has been the subject of several research analyst reports. B. Riley boosted their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC raised their price target on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Rosenblatt Securities boosted their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group started coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 target price on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $219.00.

Fabrinet Trading Up 3.7 %

Fabrinet stock opened at $242.85 on Friday. The firm has a market capitalization of $8.78 billion, a P/E ratio of 32.25 and a beta of 0.95. The business has a 50-day moving average of $228.26 and a 200-day moving average of $221.28. Fabrinet has a 1 year low of $149.19 and a 1 year high of $278.38.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $732.63 million. During the same quarter in the previous year, the company earned $1.68 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts anticipate that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Activity at Fabrinet

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

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.