Creative Planning Buys 2,422 Shares of Fabrinet (NYSE:FN)

Creative Planning raised its stake in shares of Fabrinet (NYSE:FN) by 22.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 13,455 shares of the technology company’s stock after acquiring an additional 2,422 shares during the quarter. Creative Planning’s holdings in Fabrinet were worth $3,181,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TD Asset Management Inc boosted its position in shares of Fabrinet by 216.1% during the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock valued at $77,453,000 after acquiring an additional 280,145 shares in the last quarter. Epoch Investment Partners Inc. boosted its position in shares of Fabrinet by 291.0% during the 1st quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock valued at $52,081,000 after acquiring an additional 205,057 shares in the last quarter. Driehaus Capital Management LLC boosted its position in shares of Fabrinet by 183.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock valued at $68,046,000 after acquiring an additional 179,943 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Fabrinet during the 2nd quarter valued at about $27,911,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Fabrinet during the 1st quarter valued at about $15,637,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Up 0.4 %

NYSE:FN opened at $246.48 on Friday. The firm 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 company’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 earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, topping 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 company had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. During the same period in the previous year, the firm posted $1.68 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. On average, research analysts expect that Fabrinet will post 9.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. B. Riley lifted their target price on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted 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. Needham & Company LLC boosted 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. Finally, Rosenblatt Securities boosted their price target 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. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $219.00.

Insiders Place Their Bets

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the transaction, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the transaction, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the completion of the transaction, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at approximately $10,163,610. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,728 shares of company stock valued at $11,645,062. Insiders own 0.51% of the company’s stock.

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.