Mount Yale Investment Advisors LLC Lowers Position in Fabrinet (NYSE:FN)

Mount Yale Investment Advisors LLC trimmed its position in shares of Fabrinet (NYSE:FN) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,173 shares of the technology company’s stock after selling 50 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Fabrinet were worth $750,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Fabrinet by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company’s stock worth $821,986,000 after acquiring an additional 38,999 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Fabrinet by 216.1% in the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after buying an additional 280,145 shares during the last quarter. Bank of New York Mellon Corp increased its position in 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 valued at $77,027,000 after buying an additional 12,409 shares in the last quarter. Epoch Investment Partners Inc. boosted its holdings in Fabrinet by 9.6% in the second quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company’s stock worth $73,928,000 after acquiring an additional 26,475 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its stake in shares of Fabrinet by 13.4% in the first quarter. Westfield Capital Management Co. LP now owns 300,421 shares of the technology company’s stock worth $56,786,000 after acquiring an additional 35,529 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Stock Up 0.4 %

FN opened at $246.48 on Friday. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 30.43 and a beta of 0.95. The firm has a 50 day moving average price of $240.45 and a 200-day moving average price of $227.48. Fabrinet has a twelve month low of $149.19 and a twelve month high of $278.38.

Fabrinet (NYSE:FN) last announced 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. The business had revenue of $753.26 million during 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 company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.68 EPS. As a group, analysts expect that Fabrinet will post 9.11 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Rosenblatt Securities upped their target price on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Needham & Company LLC raised 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, B. Riley upped their price objective on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and a consensus price target of $219.00.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the sale, the chief financial officer now directly owns 19,768 shares in the company, valued at $5,338,941.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was 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 directly owns 8,333 shares in the company, valued at $1,835,426.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Csaba Sverha sold 9,288 shares of the firm’s stock in a transaction on 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 directly owns 19,768 shares in the company, valued at approximately $5,338,941.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,728 shares of company stock valued at $11,645,062. 0.51% of the stock is owned by company insiders.

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.