Ausbil Investment Management Ltd Buys 76 Shares of Fabrinet (NYSE:FN)

Ausbil Investment Management Ltd boosted its position in shares of Fabrinet (NYSE:FN) by 0.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,741 shares of the technology company’s stock after acquiring an additional 76 shares during the period. Ausbil Investment Management Ltd’s holdings in Fabrinet were worth $3,485,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Fabrinet in the third quarter valued at $567,000. Norden Group LLC boosted its position in shares of Fabrinet by 1,775.2% during the 1st quarter. Norden Group LLC now owns 28,616 shares of the technology company’s stock valued at $5,409,000 after acquiring an additional 27,090 shares in the last quarter. Pitcairn Co. bought a new stake in Fabrinet in the first quarter valued at about $544,000. Seven Eight Capital LP acquired a new position in Fabrinet in the first quarter worth about $1,588,000. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Fabrinet by 27.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 79,088 shares of the technology company’s stock valued at $15,036,000 after purchasing an additional 17,000 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Insider Buying and Selling at Fabrinet

In other news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total value of $7,195,500.00. Following the transaction, the chief executive officer now owns 37,643 shares of the company’s stock, valued at $10,163,610. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 on Thursday, September 5th. The shares were 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 in the company, valued at $1,835,426.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.00, for a total value of $7,195,500.00. Following the transaction, the chief executive officer now owns 37,643 shares in the company, valued at approximately $10,163,610. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,728 shares of company stock valued at $11,645,062. 0.51% of the stock is currently owned by insiders.

Fabrinet Stock Performance

FN traded down $3.06 during mid-day trading on Thursday, reaching $243.59. The stock had a trading volume of 105,641 shares, compared to its average volume of 480,778. The firm’s fifty day simple moving average is $239.85 and its two-hundred day simple moving average is $226.95. The stock has a market capitalization of $8.80 billion, a P/E ratio of 32.76 and a beta of 0.95. 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 data on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. The firm had revenue of $753.26 million during 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%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share. As a group, analysts expect that Fabrinet will post 9.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on FN. JPMorgan Chase & Co. raised their target price on Fabrinet from $240.00 to $285.00 and gave the stock 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 company a “buy” rating in a research note on Tuesday, August 20th. B. Riley increased 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. Jefferies Financial Group started 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. Finally, Needham & Company LLC raised their price objective on shares of Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Fabrinet has a consensus rating of “Hold” and an average target price of $219.00.

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.