1,382 Fabrinet $FN Shares Bought by Torray Investment Partners LLC

Torray Investment Partners LLC boosted its position in Fabrinet (NYSE:FN) by 23.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,376 shares of the technology company’s stock after purchasing an additional 1,382 shares during the period. Torray Investment Partners LLC’s holdings in Fabrinet were worth $3,129,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Continuum Advisory LLC purchased a new stake in shares of Fabrinet during the 2nd quarter valued at about $25,000. Byrne Asset Management LLC bought a new position in shares of Fabrinet in the 3rd quarter worth approximately $27,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Fabrinet in the 1st quarter worth approximately $31,000. Root Financial Partners LLC bought a new position in shares of Fabrinet in the 3rd quarter worth approximately $40,000. Finally, Reyes Financial Architecture Inc. purchased a new position in shares of Fabrinet in the third quarter worth approximately $52,000. 97.38% of the stock is currently owned by institutional investors.

Fabrinet Stock Performance

NYSE:FN opened at $362.48 on Wednesday. The stock has a 50-day simple moving average of $400.90 and a two-hundred day simple moving average of $520.87. The firm has a market capitalization of $12.99 billion, a PE ratio of 21.63 and a beta of 1.35. Fabrinet has a 52-week low of $305.63 and a 52-week high of $748.89.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 2nd. The technology company reported $4.34 EPS for the quarter, topping the consensus estimate of $4.21 by $0.13. Fabrinet had a return on equity of 22.81% and a net margin of 9.35%. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same quarter last year, the company earned $2.92 earnings per share. The business’s revenue for the quarter was up 50.7% compared to the same quarter last year. Equities analysts forecast that Fabrinet will post 17.57 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Edward Archer sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $385.91, for a total transaction of $964,775.00. Following the completion of the transaction, the executive vice president directly owned 7,007 shares in the company, valued at approximately $2,704,071.37. The trade was a 26.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $500.00 target price on shares of Fabrinet in a research report on Tuesday. JPMorgan Chase & Co. upped their target price on shares of Fabrinet from $465.00 to $470.00 and gave the company a “neutral” rating in a report on Tuesday. Weiss Ratings downgraded shares of Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, September 9th. Susquehanna decreased their price target on shares of Fabrinet from $850.00 to $600.00 and set a “positive” rating on the stock in a research report on Wednesday, October 21st. Finally, Barclays lifted their price target on shares of Fabrinet from $702.00 to $739.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 18th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $579.25.

More Fabrinet News

Here are the key news stories impacting Fabrinet this week:

• Positive Sentiment: Results beat expectations: Fiscal Q1 revenue rose 51% year over year to $1.47 billion, ahead of estimates, while EPS of $4.34 also topped consensus. The company said revenue exceeded its guidance range. Fabrinet Stock Jumps on Q1 Earnings Double Beat, Strong Guidance
• Positive Sentiment: Guidance came in above forecasts: Fabrinet forecast fiscal Q2 revenue of $1.6 billion–$1.7 billion and EPS of $4.77–$4.92, exceeding analyst estimates for both measures. Why is this data center components supplier stock gaining 8% in premarket today?
• Positive Sentiment: Data-center demand and expansion support the outlook: Data-center revenue reportedly surged 78%, with AI-related demand contributing to growth. Fabrinet is expanding manufacturing capacity, including starting Building 11, and announced buyback news. FN Q1 Earnings Beat Estimates, Data Center Demand Aids Revenues
• Neutral Sentiment: Analyst views were mixed: Needham reaffirmed its Buy rating and $500 target, while JPMorgan raised its target to $470 but kept a Neutral rating. Rosenblatt cut its target to $600 but maintained Buy. Fabrinet Lost 32% in a Month. Barclays Sees 58% Upside From Here
• Negative Sentiment: Costs and taxes remain a watch point: An earnings analysis noted that cash demands from rapid growth and a new global minimum tax restrained GAAP earnings growth relative to sales growth. Fabrinet’s 51% Growth Comes at a Cash Cost: Rapid Earnings Reaction

About Fabrinet

Fabrinet (NYSE: FN) is a provider of outsourced manufacturing services for complex optical, electronic and electromechanical products. The company works with original equipment manufacturers and other technology companies to design, manufacture, assemble, test and distribute products used in optical communications, industrial lasers, automotive applications, medical devices and other advanced technology markets.

Its capabilities include precision optical packaging, optical and electronic assembly, printed circuit board assembly, electromechanical manufacturing, engineering support, supply-chain management and testing.