Fabrinet (NYSE:FN) Shares Purchased by Cwm LLC

Cwm LLC grew its stake in shares of Fabrinet (NYSE:FN) by 59.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 845 shares of the technology company’s stock after purchasing an additional 314 shares during the quarter. Cwm LLC’s holdings in Fabrinet were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in Fabrinet during the 2nd quarter worth $28,000. Banque Cantonale Vaudoise purchased a new position in shares of Fabrinet during the second quarter worth about $35,000. Kimelman & Baird LLC purchased a new position in shares of Fabrinet during the second quarter worth about $49,000. GAMMA Investing LLC increased its position in shares of Fabrinet by 60.6% during the first quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock worth $55,000 after purchasing an additional 109 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Fabrinet in the 1st quarter valued at about $63,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Insiders Place Their Bets

In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the completion of the transaction, the chief executive officer now owns 37,643 shares in the company, valued at $10,163,610. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,728 shares of company stock worth $11,645,062. Company insiders own 0.51% of the company’s stock.

Fabrinet Price Performance

NYSE:FN opened at $248.54 on Wednesday. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 33.01 and a beta of 0.95. The firm’s fifty day moving average price is $239.27 and its 200 day moving average price is $226.81. 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 the consensus estimate of $2.06 by $0.35. The business had revenue of $753.26 million for the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.68 earnings per share. As a group, analysts expect that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.