Sequoia Financial Advisors LLC Has $562,000 Stock Position in Fabrinet (NYSE:FN)

Sequoia Financial Advisors LLC reduced its stake in Fabrinet (NYSE:FN) by 7.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,375 shares of the technology company’s stock after selling 190 shares during the period. Sequoia Financial Advisors LLC’s holdings in Fabrinet were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new position in shares of Fabrinet in the 2nd quarter valued at $28,000. Banque Cantonale Vaudoise bought a new position in Fabrinet during the second quarter worth about $35,000. Kimelman & Baird LLC acquired a new stake in Fabrinet during the second quarter worth approximately $49,000. NBC Securities Inc. raised its position in shares of Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after buying an additional 183 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock valued at $57,000 after buying an additional 172 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Price Performance

Shares of FN opened at $246.48 on Friday. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 30.43 and a beta of 0.95. Fabrinet has a 1 year low of $149.19 and a 1 year high of $278.38. The business’s 50 day simple moving average is $240.45 and its 200-day simple moving average is $227.48.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.06 by $0.35. The company had revenue of $753.26 million for the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.68 earnings per share. On average, sell-side analysts expect that Fabrinet will post 9.11 earnings per share for the current year.

Insider Activity at Fabrinet

In other news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction dated 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 $5,338,941.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 the stock in a transaction that occurred 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 directly owns 8,333 shares in the company, valued at $1,835,426.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Csaba Sverha sold 9,288 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 19,768 shares in the company, valued at $5,338,941.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock worth $11,645,062 over the last three months. Company insiders own 0.51% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Rosenblatt Securities boosted their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company 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 company a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, B. Riley upped 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Fabrinet currently has a consensus rating of “Hold” and a consensus price target of $219.00.

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.