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Fabrinet (NYSE:FN) Shares Sold by Clark Capital Management Group Inc.

Defense World · Sep 10, 2022 06:12

Clark Capital Management Group Inc. reduced its holdings in Fabrinet (NYSE:FN – Get Rating) by 7.6% during the 1st quarter, Holdings Channel reports. The fund owned 380,074 shares of the technology company's stock after selling 31,277 shares during the quarter. Clark Capital Management Group Inc.'s holdings in Fabrinet were worth $39,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. First Hawaiian Bank boosted its position in shares of Fabrinet by 50.6% in the first quarter. First Hawaiian Bank now owns 3,527 shares of the technology company's stock worth $371,000 after buying an additional 1,185 shares during the period. Summit Global Investments bought a new position in Fabrinet during the first quarter valued at about $431,000. DB Fitzpatrick & Co Inc grew its position in shares of Fabrinet by 1.5% in the first quarter. DB Fitzpatrick & Co Inc now owns 10,498 shares of the technology company's stock valued at $1,104,000 after purchasing an additional 152 shares during the last quarter. Channing Global Advisors LLC grew its position in shares of Fabrinet by 198.6% in the first quarter. Channing Global Advisors LLC now owns 8,258 shares of the technology company's stock valued at $868,000 after purchasing an additional 5,492 shares during the last quarter. Finally, Aviva PLC grew its position in shares of Fabrinet by 41.4% in the fourth quarter. Aviva PLC now owns 22,890 shares of the technology company's stock valued at $2,712,000 after purchasing an additional 6,702 shares during the last quarter. 97.21% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Fabrinet

In other Fabrinet news, Director David T. Mitchell sold 50,000 shares of Fabrinet stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $109.95, for a total transaction of $5,497,500.00. Following the sale, the director now directly owns 27,953 shares of the company's stock, valued at $3,073,432.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director David T. Mitchell sold 50,000 shares of Fabrinet stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $109.95, for a total value of $5,497,500.00. Following the completion of the transaction, the director now owns 27,953 shares in the company, valued at $3,073,432.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Harpal Gill sold 21,088 shares of Fabrinet stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 39,656 shares of the company's stock, valued at approximately $4,667,511.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,129 shares of company stock valued at $12,818,755. 0.42% of the stock is currently owned by corporate insiders.

Fabrinet Stock Up 1.5 %

NYSE FN opened at $102.23 on Friday. The company has a current ratio of 2.83, a quick ratio of 1.80 and a debt-to-equity ratio of 0.01. The stock's 50 day moving average is $96.01 and its two-hundred day moving average is $94.06. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 19.07 and a beta of 0.95. Fabrinet has a 1-year low of $74.57 and a 1-year high of $126.28.

Fabrinet (NYSE:FN – Get Rating) last released its quarterly earnings data on Monday, August 15th. The technology company reported $1.68 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.26. The company had revenue of $587.90 million for the quarter, compared to the consensus estimate of $581.48 million. Fabrinet had a return on equity of 16.67% and a net margin of 8.86%. The company's quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. Equities analysts forecast that Fabrinet will post 6.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FN has been the topic of several research analyst reports. Needham & Company LLC raised their price target on Fabrinet from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, August 16th. JPMorgan Chase & Co. decreased their target price on Fabrinet from $115.00 to $88.00 and set a "neutral" rating on the stock in a research report on Thursday, July 14th. Finally, StockNews.com raised Fabrinet from a "hold" rating to a "buy" rating in a research report on Wednesday, August 24th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Fabrinet currently has an average rating of "Moderate Buy" and an average target price of $115.60.

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.

Fabrinet (NYSE:FN) Shares Sold by Clark Capital Management Group Inc.

Insider Buying and Selling at Fabrinet

Fabrinet Stock Up 1.5 %

Wall Street Analyst Weigh In

About Fabrinet

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