Fabrinet (NYSE:FN) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Fabrinet (NYSE:FN) by 60.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289 shares of the technology company’s stock after acquiring an additional 109 shares during the quarter. GAMMA Investing LLC’s holdings in Fabrinet were worth $55,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Park Place Capital Corp acquired a new position in shares of Fabrinet in the 4th quarter valued at $26,000. Salem Investment Counselors Inc. purchased a new stake in shares of Fabrinet in the fourth quarter valued at about $29,000. Parallel Advisors LLC boosted its stake in shares of Fabrinet by 59.7% during the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after buying an additional 77 shares during the period. Orion Capital Management LLC purchased a new position in shares of Fabrinet during the third quarter worth about $47,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Fabrinet in the 4th quarter valued at about $52,000. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Down 3.7 %

Shares of NYSE FN opened at $237.77 on Tuesday. The firm has a 50-day moving average price of $217.29 and a 200 day moving average price of $203.33. Fabrinet has a 52 week low of $114.83 and a 52 week high of $257.04. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 31.58 and a beta of 0.99.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, May 6th. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.28. The company had revenue of $731.54 million during the quarter, compared to the consensus estimate of $718.94 million. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. Equities research analysts expect that Fabrinet will post 7.95 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Frank H. Levinson sold 6,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $241.71, for a total value of $1,450,260.00. Following the completion of the transaction, the director now owns 5,709 shares in the company, valued at $1,379,922.39. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.51% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FN shares. B. Riley lowered their target price on Fabrinet from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 7th. JPMorgan Chase & Co. upped their price objective on shares of Fabrinet from $210.00 to $212.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Northland Securities upgraded shares of Fabrinet from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $200.00 to $220.00 in a research note on Thursday, March 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 target price on shares of Fabrinet in a report on Tuesday, May 7th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $161.00.

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.