Hennion & Walsh Asset Management Inc. Purchases 1,431 Shares of Fabrinet (NYSE:FN)

Hennion & Walsh Asset Management Inc. boosted its position in Fabrinet (NYSE:FN) by 34.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,621 shares of the technology company’s stock after purchasing an additional 1,431 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Fabrinet were worth $1,329,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc increased its holdings in shares of 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 purchasing an additional 280,145 shares during the period. Epoch Investment Partners Inc. grew its position in Fabrinet by 291.0% during the first quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock worth $52,081,000 after buying an additional 205,057 shares in the last quarter. Driehaus Capital Management LLC increased its stake in Fabrinet by 183.5% during the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock worth $68,046,000 after acquiring an additional 179,943 shares during the period. Clearbridge Investments LLC acquired a new position in Fabrinet in the 2nd quarter valued at $27,911,000. Finally, Kennedy Capital Management LLC acquired a new position in Fabrinet in the 1st quarter valued at $15,637,000. 97.38% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction dated Thursday, September 5th. The stock was 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 of the company’s stock, valued at approximately $1,835,426.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.00, for a total transaction of $27,000.00. Following the completion of the transaction, the chief financial officer now directly owns 19,347 shares of the company’s stock, valued at $5,223,690. This trade 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 hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the company’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 sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,728 shares of company stock valued at $11,645,062 in the last 90 days. Corporate insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Needham & Company LLC raised their price target on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. B. Riley increased their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price 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. Finally, Rosenblatt Securities upped their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $219.00.

Fabrinet Trading Up 0.4 %

FN opened at $246.48 on Friday. The company has a market cap of $8.91 billion, a P/E ratio of 30.43 and a beta of 0.95. The company’s 50 day moving average is $240.45 and its 200-day moving average is $227.48. Fabrinet has a 1-year low of $149.19 and a 1-year high of $278.38.

Fabrinet (NYSE:FN) last issued its earnings results 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. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The firm had revenue of $753.26 million for the quarter, compared to analyst estimates of $732.63 million. During the same quarter last year, the business posted $1.68 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities analysts forecast that Fabrinet will post 9.11 EPS for the current year.

Fabrinet 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.