Crossmark Global Holdings Inc. Has $1.09 Million Holdings in Fabrinet (NYSE:FN)

Crossmark Global Holdings Inc. cut its position in Fabrinet (NYSE:FN) by 3.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,456 shares of the technology company’s stock after selling 171 shares during the period. Crossmark Global Holdings Inc.’s holdings in Fabrinet were worth $1,091,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FN. Opal Wealth Advisors LLC bought a new position in shares of Fabrinet in the second quarter worth about $28,000. GAMMA Investing LLC bought a new position in shares of Fabrinet in the fourth quarter worth about $34,000. Parallel Advisors LLC raised 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 last quarter. UMB Bank n.a. bought a new stake in shares of Fabrinet during the first quarter worth approximately $57,000. Finally, Headlands Technologies LLC bought a new stake in shares of Fabrinet during the first quarter worth approximately $63,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the transaction, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at $10,163,610. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Seamus Grady sold 26,650 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $270.00, for a total value of $7,195,500.00. Following the transaction, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at $10,163,610. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Csaba Sverha sold 100 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the completion of the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at $5,223,690. The disclosure for this sale can be found here. Insiders have sold 36,038 shares of company stock valued at $9,731,003 over the last ninety days. 0.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FN. JPMorgan Chase & Co. boosted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. 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 research note on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target for the company. Needham & Company LLC boosted their price objective 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, B. Riley boosted their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $219.00.

Fabrinet Stock Up 0.3 %

Fabrinet stock opened at $243.67 on Friday. Fabrinet has a twelve month low of $146.65 and a twelve month high of $278.38. The company has a 50 day moving average of $234.96 and a 200-day moving average of $216.93. The stock has a market capitalization of $8.81 billion, a PE ratio of 32.36 and a beta of 0.96.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.06 by $0.35. Fabrinet had a net margin of 9.90% and a return on equity of 17.67%. The business had revenue of $753.26 million during the quarter, compared to analysts’ expectations of $732.63 million. During the same quarter in the prior year, the company posted $1.68 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. Equities analysts anticipate that Fabrinet will post 7.95 EPS for the current fiscal year.

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.