Rice Hall James & Associates LLC Has $32.93 Million Stake in Fabrinet (NYSE:FN)

Rice Hall James & Associates LLC raised its holdings in Fabrinet (NYSE:FN) by 89.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 134,519 shares of the technology company’s stock after buying an additional 63,398 shares during the period. Fabrinet comprises approximately 2.0% of Rice Hall James & Associates LLC’s investment portfolio, making the stock its 10th biggest holding. Rice Hall James & Associates LLC owned approximately 0.37% of Fabrinet worth $32,929,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Truist Financial Corp lifted its position in Fabrinet by 178.9% during the fourth quarter. Truist Financial Corp now owns 5,463 shares of the technology company’s stock worth $1,040,000 after acquiring an additional 3,504 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Fabrinet by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 427,946 shares of the technology company’s stock worth $81,451,000 after purchasing an additional 7,156 shares during the last quarter. Principal Securities Inc. bought a new stake in Fabrinet in the 4th quarter valued at $65,000. Dimensional Fund Advisors LP grew its holdings in Fabrinet by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 977,459 shares of the technology company’s stock valued at $186,051,000 after buying an additional 16,551 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Fabrinet by 174.3% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,980 shares of the technology company’s stock worth $758,000 after buying an additional 2,529 shares in the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

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 shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 8,333 shares in the company, valued at $1,835,426.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock valued at $11,645,062 over the last quarter. 0.51% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FN shares. 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 note on Tuesday, August 20th. Rosenblatt Securities increased their target price on shares of 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 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. Jefferies Financial Group began coverage on Fabrinet in a research note on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target for the company. Finally, B. Riley raised their price objective on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $219.00.

Fabrinet Stock Performance

NYSE FN opened at $207.24 on Wednesday. The firm’s fifty day moving average price is $231.75 and its two-hundred day moving average price is $218.43. The stock has a market cap of $7.49 billion, a PE ratio of 27.52 and a beta of 0.95. Fabrinet has a fifty-two week low of $146.65 and a fifty-two week high of $278.38.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. The business had revenue of $753.26 million for 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%. Fabrinet’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 EPS. As a group, sell-side analysts predict that Fabrinet will post 9.11 earnings per share for the current fiscal year.

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.