Fabrinet $FN Stock Bought by CenterBook Partners LP

CenterBook Partners LP lifted its stake in Fabrinet (NYSE:FN) by 64.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,691 shares of the technology company’s stock after acquiring an additional 12,471 shares during the period. CenterBook Partners LP’s holdings in Fabrinet were worth $13,446,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Paradigm Capital Management Inc. NY bought a new stake in Fabrinet in the 2nd quarter valued at $298,183,000. Janus Henderson Group PLC grew its position in Fabrinet by 15.9% during the first quarter. Janus Henderson Group PLC now owns 291,659 shares of the technology company’s stock worth $152,071,000 after buying an additional 40,090 shares in the last quarter. Principal Financial Group Inc. grew its position in Fabrinet by 15.0% during the first quarter. Principal Financial Group Inc. now owns 216,049 shares of the technology company’s stock worth $112,674,000 after buying an additional 28,166 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Fabrinet by 108.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 165,146 shares of the technology company’s stock worth $88,350,000 after buying an additional 85,780 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its holdings in Fabrinet by 11.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 128,795 shares of the technology company’s stock valued at $72,393,000 after acquiring an additional 13,245 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling at Fabrinet

In other news, EVP Edward Archer sold 2,500 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $385.91, for a total transaction of $964,775.00. Following the completion of the sale, the executive vice president owned 7,007 shares in the company, valued at $2,704,071.37. The trade was a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.22% of the stock is currently owned by insiders.

Fabrinet Trading Up 12.0%

NYSE FN traded up $35.25 during trading hours on Friday, reaching $328.22. 1,996,205 shares of the company’s stock were exchanged, compared to its average volume of 1,022,200. The firm has a fifty day moving average of $394.16 and a 200-day moving average of $518.32. Fabrinet has a one year low of $286.07 and a one year high of $748.89. The stock has a market cap of $11.76 billion, a PE ratio of 24.77 and a beta of 1.35.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, November 2nd. The technology company reported $4.34 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.13. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.42 billion. Fabrinet had a return on equity of 22.81% and a net margin of 9.35%. The business’s revenue was up 50.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.92 earnings per share. As a group, research analysts forecast that Fabrinet will post 17.57 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FN shares. Fox Advisors upgraded Fabrinet from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 19th. Barclays dropped their price objective on shares of Fabrinet from $739.00 to $496.00 and set an “overweight” rating for the company in a research note on Wednesday. Zacks Research upgraded shares of Fabrinet from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. upped their target price on shares of Fabrinet from $465.00 to $470.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, B. Riley Financial cut their price target on shares of Fabrinet from $431.00 to $385.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $548.88.

Fabrinet Company Profile

Fabrinet (NYSE: FN) is a provider of outsourced manufacturing services for complex optical, electronic and electromechanical products. The company works with original equipment manufacturers and other technology companies to design, manufacture, assemble, test and distribute products used in optical communications, industrial lasers, automotive applications, medical devices and other advanced technology markets.

Its capabilities include precision optical packaging, optical and electronic assembly, printed circuit board assembly, electromechanical manufacturing, engineering support, supply-chain management and testing.