Wilmington Savings Fund Society FSB Acquires Shares of 294 Fabrinet (NYSE:FN)

Wilmington Savings Fund Society FSB bought a new stake in Fabrinet (NYSE:FN) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 294 shares of the technology company’s stock, valued at approximately $70,000.

Several other large investors have also modified their holdings of FN. Huntington National Bank raised its stake in Fabrinet by 70.4% during the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after buying an additional 57 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet during the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC acquired a new stake in shares of Fabrinet during the 2nd quarter worth approximately $49,000. NBC Securities Inc. boosted its position in Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after purchasing an additional 183 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Fabrinet during the 3rd quarter valued at approximately $52,000. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Down 0.7 %

Fabrinet stock opened at $221.26 on Friday. The company’s 50-day moving average price is $242.77 and its two-hundred day moving average price is $237.78. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 26.18 and a beta of 0.92. Fabrinet has a 52 week low of $159.69 and a 52 week high of $278.38.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.38 by $0.01. The firm had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.78 earnings per share. Research analysts expect that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays initiated coverage on Fabrinet in a research note on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 target price on the stock. Needham & Company LLC initiated coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective on the stock. Finally, B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $252.14.

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.