Graham Capital Management L.P. bought a new stake in Fabrinet (NYSE:FN – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,716 shares of the technology company's stock, valued at approximately $1,336,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd acquired a new position in shares of Fabrinet in the fourth quarter worth $49,000. Archer Investment Corp acquired a new position in shares of Fabrinet in the first quarter worth $58,000. Van ECK Associates Corp grew its stake in shares of Fabrinet by 16.0% in the first quarter. Van ECK Associates Corp now owns 943 shares of the technology company's stock worth $99,000 after acquiring an additional 130 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Fabrinet in the fourth quarter worth $239,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Fabrinet in the fourth quarter worth $259,000. Hedge funds and other institutional investors own 97.21% of the company's stock.
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Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Fabrinet from $115.00 to $88.00 and set a "neutral" rating for the company in a research note on Thursday, July 14th. Needham & Company LLC boosted their target price on shares of Fabrinet from $130.00 to $135.00 and gave the stock a "buy" rating in a research note on Tuesday, August 16th. Finally, StockNews.com upgraded shares of Fabrinet from a "hold" rating to a "buy" rating in a research note on Wednesday, August 24th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Fabrinet currently has an average rating of "Moderate Buy" and a consensus price target of $115.60.
Insider Activity
In other news, COO Harpal Gill sold 21,088 shares of the company's stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $117.70, for a total value of $2,482,057.60. Following the completion of the sale, the chief operating officer now directly owns 39,656 shares of the company's stock, valued at $4,667,511.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Seamus Grady sold 17,681 shares of the company's stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $106.36, for a total value of $1,880,551.16. Following the completion of the sale, the chief executive officer now directly owns 46,416 shares of the company's stock, valued at $4,936,805.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Harpal Gill sold 21,088 shares of the company's stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $117.70, for a total transaction of $2,482,057.60. Following the completion of the sale, the chief operating officer now directly owns 39,656 shares of the company's stock, valued at $4,667,511.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,129 shares of company stock valued at $12,818,755. Insiders own 0.42% of the company's stock.
Fabrinet Stock Performance
NYSE FN opened at $102.23 on Monday. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.83 and a quick ratio of 1.80. Fabrinet has a 1 year low of $74.57 and a 1 year high of $126.28. The company has a market capitalization of $3.73 billion, a PE ratio of 19.07 and a beta of 0.95. The company has a fifty day moving average of $96.01 and a two-hundred day moving average of $93.99.
Fabrinet (NYSE:FN – Get Rating) last released its quarterly earnings data on Monday, August 15th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.26. Fabrinet had a net margin of 8.86% and a return on equity of 16.67%. The company had revenue of $587.90 million during the quarter, compared to the consensus estimate of $581.48 million. During the same quarter in the prior year, the firm posted $1.14 earnings per share. Fabrinet's revenue for the quarter was up 15.4% on a year-over-year basis. As a group, analysts expect that Fabrinet will post 6.11 earnings per share for the current year.
About Fabrinet
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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.
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