Hennion & Walsh Asset Management Inc. Has $1.33 Million Stake in Fabrinet (NYSE:FN)

Hennion & Walsh Asset Management Inc. grew its holdings in shares of Fabrinet (NYSE:FN) by 34.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,621 shares of the technology company’s stock after acquiring an additional 1,431 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Fabrinet were worth $1,329,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Eastern Bank acquired a new position in shares of Fabrinet during the 3rd quarter valued at $59,000. Raymond James & Associates boosted its holdings in Fabrinet by 8.5% in the third quarter. Raymond James & Associates now owns 21,746 shares of the technology company’s stock worth $5,142,000 after acquiring an additional 1,708 shares in the last quarter. Blue Trust Inc. grew its position in Fabrinet by 249.2% in the 3rd quarter. Blue Trust Inc. now owns 426 shares of the technology company’s stock valued at $104,000 after purchasing an additional 304 shares during the period. Trust Point Inc. raised its holdings in Fabrinet by 4.7% during the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock worth $301,000 after buying an additional 57 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Fabrinet in the third quarter valued at $567,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Performance

NYSE FN opened at $246.48 on Friday. The company has a market capitalization of $8.91 billion, a PE ratio of 30.43 and a beta of 0.95. Fabrinet has a 52-week low of $149.19 and a 52-week high of $278.38. The company has a 50-day simple moving average of $240.45 and a 200 day simple moving average of $227.48.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. 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. JPMorgan Chase & Co. increased their price objective on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Needham & Company LLC increased their target price on shares of Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Finally, Rosenblatt Securities boosted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $219.00.

Insider Buying and Selling at Fabrinet

In related news, CFO Csaba Sverha sold 9,288 shares of Fabrinet stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.08, for a total value of $2,508,503.04. Following the completion of the sale, the chief financial officer now owns 19,768 shares of the company’s stock, valued at approximately $5,338,941.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Csaba Sverha sold 9,288 shares of Fabrinet stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total value of $2,508,503.04. Following the completion of the transaction, the chief financial officer now directly owns 19,768 shares in the company, valued at approximately $5,338,941.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,728 shares of company stock worth $11,645,062 over the last ninety days. 0.51% of the stock is currently owned by company insiders.

Fabrinet Company 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.