Fabrinet (NYSE:FN) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC lessened its stake in shares of Fabrinet (NYSE:FN) by 18.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,136 shares of the technology company’s stock after selling 15,611 shares during the quarter. Natixis Advisors LLC owned about 0.19% of Fabrinet worth $16,110,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FN. Vanguard Group Inc. lifted its stake in shares of Fabrinet by 0.9% during the first 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 during the period. Bank of New York Mellon Corp lifted its stake in shares of Fabrinet by 4.1% during 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 during the period. Epoch Investment Partners Inc. lifted its stake in shares of Fabrinet by 9.6% during the 2nd quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company’s stock worth $73,928,000 after purchasing an additional 26,475 shares during the period. Driehaus Capital Management LLC boosted its holdings in shares of Fabrinet by 183.5% during the second quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock worth $68,046,000 after purchasing an additional 179,943 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Fabrinet by 20.4% in the first quarter. Janus Henderson Group PLC now owns 276,354 shares of the technology company’s stock valued at $52,233,000 after purchasing an additional 46,864 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Up 7.1 %

FN opened at $248.82 on Wednesday. The firm has a market capitalization of $9.02 billion, a P/E ratio of 29.45 and a beta of 0.95. The firm’s 50 day moving average is $242.80 and its 200-day moving average is $236.88. Fabrinet has a 52-week low of $159.30 and a 52-week high of $278.38.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The business had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same period in the previous year, the company earned $1.78 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts expect that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on FN. Barclays began coverage on Fabrinet in a report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target for the company. Needham & Company LLC began coverage on shares of Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price for the company. B. Riley dropped their price target on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating for the company in a research report on Tuesday, November 5th. Rosenblatt Securities lifted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their price objective on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $254.43.

Insider Buying and Selling

In related news, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. This trade represents a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Seamus Grady sold 26,650 shares of Fabrinet 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 transaction, the chief executive officer now owns 37,643 shares of the company’s stock, valued at approximately $10,163,610. The trade was a 41.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,728 shares of company stock worth $11,645,062. Insiders own 0.38% of the company’s stock.

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.