Perpetual Ltd Buys Shares of 6,328 Fabrinet (NYSE:FN)

Perpetual Ltd bought a new stake in Fabrinet (NYSE:FN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,328 shares of the technology company’s stock, valued at approximately $1,496,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Congress Asset Management Co. MA bought a new position in shares of Fabrinet in the fourth quarter valued at approximately $99,045,000. TD Asset Management Inc raised its position in shares of Fabrinet by 216.1% in the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock valued at $77,453,000 after purchasing an additional 280,145 shares during the period. Epoch Investment Partners Inc. raised its position in shares of Fabrinet by 291.0% in the first quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock valued at $52,081,000 after purchasing an additional 205,057 shares during the period. Driehaus Capital Management LLC raised its position in shares of Fabrinet by 183.5% in the second quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock valued at $68,046,000 after purchasing an additional 179,943 shares during the period. Finally, Clearbridge Investments LLC bought a new position in shares of Fabrinet in the second quarter valued at approximately $27,911,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FN. Jefferies Financial Group began coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. lifted 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. Rosenblatt Securities boosted 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 boosted their target price on shares of Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, B. Riley boosted their target price on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $219.00.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $263.59 on Friday. The firm has a market capitalization of $9.53 billion, a PE ratio of 35.01 and a beta of 0.95. The company’s fifty day moving average price is $230.79 and its two-hundred day moving average price is $222.51. Fabrinet has a 52-week low of $149.19 and a 52-week high of $278.38.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.35. The firm had revenue of $753.26 million for the quarter, compared to analyst estimates of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. Analysts predict that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Fabrinet

In other news, CFO Csaba Sverha sold 100 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the sale, the chief financial officer now owns 19,347 shares in the company, valued at approximately $5,223,690. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 37,643 shares in the company, valued at approximately $10,163,610. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Csaba Sverha sold 100 shares of the business’s stock in a transaction on Monday, August 26th. The shares were 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 owns 19,347 shares in the company, valued at $5,223,690. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock valued at $11,645,062 in the last 90 days. 0.51% of the stock is currently owned by company insiders.

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.