Legacy Wealth Asset Management LLC Buys 43 Shares of Fabrinet (NYSE:FN)

Legacy Wealth Asset Management LLC raised its position in shares of Fabrinet (NYSE:FN) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,375 shares of the technology company’s stock after acquiring an additional 43 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Fabrinet were worth $325,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Fabrinet by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company’s stock valued at $821,986,000 after buying an additional 38,999 shares in the last quarter. TD Asset Management Inc increased its position in Fabrinet by 216.1% during the first 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 during the period. Bank of New York Mellon Corp raised its stake in Fabrinet by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company’s stock worth $77,027,000 after purchasing an additional 12,409 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in Fabrinet by 9.6% in the 2nd quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company’s stock valued at $73,928,000 after purchasing an additional 26,475 shares during the period. Finally, Westfield Capital Management Co. LP boosted its holdings in Fabrinet by 13.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 300,421 shares of the technology company’s stock valued at $56,786,000 after purchasing an additional 35,529 shares during the period. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Activity

In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the company’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 completion of the transaction, the chief financial officer now owns 19,768 shares of the company’s stock, valued at $5,338,941.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the business’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 sale, the chief financial officer now directly owns 19,768 shares of the company’s stock, valued at $5,338,941.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,728 shares of company stock worth $11,645,062. Insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FN shares. JPMorgan Chase & Co. lifted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Rosenblatt Securities lifted their price objective on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Needham & Company LLC increased their target price on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, B. Riley boosted their price target on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $219.00.

Fabrinet Stock Up 0.4 %

Fabrinet stock opened at $246.48 on Friday. The stock has a market cap of $8.91 billion, a PE ratio of 30.43 and a beta of 0.95. Fabrinet has a 12-month low of $149.19 and a 12-month high of $278.38. The business’s 50-day moving average price is $240.45 and its two-hundred day moving average price is $227.48.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating 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 net margin of 10.27% and a return on equity of 18.10%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 EPS. As a group, analysts expect that Fabrinet will post 9.11 earnings per share for the current year.

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.