Susquehanna Fundamental Investments LLC Invests $1.94 Million in Fabrinet (NYSE:FN)

Susquehanna Fundamental Investments LLC purchased a new position in shares of Fabrinet (NYSE:FN) during the second quarter, Holdings Channel.com reports. The fund purchased 7,941 shares of the technology company’s stock, valued at approximately $1,944,000.

A number of other institutional investors and hedge funds have also made changes to their positions in FN. Opal Wealth Advisors LLC acquired a new stake in Fabrinet in the 2nd quarter valued at approximately $28,000. Banque Cantonale Vaudoise acquired a new stake in Fabrinet in the 2nd quarter valued at approximately $35,000. Parallel Advisors LLC increased its position in Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after acquiring an additional 77 shares during the period. GAMMA Investing LLC increased its position in Fabrinet by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after acquiring an additional 109 shares during the period. Finally, UMB Bank n.a. acquired a new stake in Fabrinet in the 1st quarter valued at approximately $57,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Down 1.4 %

FN opened at $236.32 on Tuesday. The firm has a market cap of $8.54 billion, a PE ratio of 31.38 and a beta of 0.96. The business has a fifty day simple moving average of $227.68 and a 200-day simple moving average of $220.11. Fabrinet has a fifty-two week low of $149.19 and a fifty-two week high of $278.38.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 18.10% and a net margin of 10.27%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $1.68 EPS. On average, equities research analysts anticipate that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In other news, CEO Seamus Grady sold 26,650 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 37,643 shares of the company’s stock, valued at $10,163,610. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Csaba Sverha sold 100 shares of the 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 sale, the chief financial officer now directly owns 19,347 shares in the company, valued at $5,223,690. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Seamus Grady sold 26,650 shares of the stock in a transaction 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 sale, the chief executive officer now owns 37,643 shares of the company’s stock, valued at $10,163,610. 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 three months. 0.51% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on FN shares. Needham & Company LLC raised their target price on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. increased their price target on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Jefferies Financial Group started coverage on Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target for the company. B. Riley increased their price target on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities increased their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Fabrinet has an average rating of “Hold” and an average price target of $219.00.

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.