Fabrinet (NYSE:FN) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its position in shares of Fabrinet (NYSE:FN) by 14.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 480,550 shares of the technology company’s stock after purchasing an additional 61,491 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Fabrinet were worth $113,621,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Opal Wealth Advisors LLC bought a new position in shares of Fabrinet in the second quarter worth $28,000. Huntington National Bank lifted its holdings in Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the period. Banque Cantonale Vaudoise acquired a new position in Fabrinet during the 2nd quarter valued at about $35,000. Kimelman & Baird LLC bought a new stake in shares of Fabrinet during the 2nd quarter worth about $49,000. Finally, NBC Securities Inc. lifted its stake in shares of Fabrinet by 732.0% in the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after acquiring an additional 183 shares during the period. Institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FN. Rosenblatt Securities boosted their target price on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Barclays initiated coverage on Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price objective on the stock. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and decreased their target price for the company from $194.00 to $178.00 in a research note on Wednesday, November 20th. Needham & Company LLC assumed coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $252.14.

Fabrinet Stock Down 0.8 %

Shares of Fabrinet stock opened at $228.63 on Tuesday. Fabrinet has a 12-month low of $159.30 and a 12-month high of $278.38. The firm has a market capitalization of $8.29 billion, a PE ratio of 27.06 and a beta of 0.95. The stock’s fifty day moving average is $244.08 and its 200-day moving average is $237.99.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. During the same quarter in the previous year, the company earned $1.78 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. Analysts expect that Fabrinet will post 9.1 EPS for the current year.

Insider Activity

In other news, EVP Edward T. Archer sold 8,690 shares of the firm’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 owns 8,333 shares of the company’s stock, valued at $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.38% of the stock is owned by company insiders.

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.