Dynamic Technology Lab Private Ltd Buys Shares of 10,142 Fabrinet (NYSE:FN)

Dynamic Technology Lab Private Ltd bought a new position in Fabrinet (NYSE:FN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,142 shares of the technology company’s stock, valued at approximately $2,398,000.

Several other hedge funds have also modified their holdings of the company. Legacy Wealth Asset Management LLC boosted its stake in Fabrinet by 3.2% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock valued at $325,000 after acquiring an additional 43 shares in the last quarter. Wolff Wiese Magana LLC boosted its position in shares of Fabrinet by 2.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after purchasing an additional 47 shares in the last quarter. Trust Point Inc. grew its stake in Fabrinet by 4.7% during the 3rd quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock worth $301,000 after buying an additional 57 shares during the last quarter. Huntington National Bank increased its position in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares in the last quarter. Finally, Cim LLC raised its stake in Fabrinet by 1.0% in the second quarter. Cim LLC now owns 5,980 shares of the technology company’s stock valued at $1,344,000 after buying an additional 61 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the firm’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 of the company’s stock, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on FN. JPMorgan Chase & Co. lifted their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Barclays started coverage on Fabrinet in a research note on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price target on the stock. Rosenblatt Securities raised their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and dropped their target price for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. Finally, Needham & Company LLC assumed coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Fabrinet currently has an average rating of “Hold” and an average target price of $252.14.

Fabrinet Trading Up 0.2 %

Shares of FN stock opened at $230.43 on Monday. Fabrinet has a twelve month low of $159.30 and a twelve month high of $278.38. The stock has a market cap of $8.36 billion, a P/E ratio of 27.27 and a beta of 0.95. The stock has a 50 day moving average of $244.00 and a 200 day moving average of $237.91.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. During the same period in the previous year, the firm earned $1.78 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, research analysts predict that Fabrinet will post 9.1 earnings per share for the current fiscal year.

About Fabrinet

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.