Los Angeles Capital Management LLC Has $4.92 Million Stock Position in Fabrinet (NYSE:FN)

Los Angeles Capital Management LLC lifted its position in shares of Fabrinet (NYSE:FN) by 19.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,116 shares of the technology company’s stock after purchasing an additional 3,280 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.06% of Fabrinet worth $4,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Congress Asset Management Co. MA bought a new stake in shares of Fabrinet in the 4th quarter valued at approximately $99,045,000. TD Asset Management Inc grew its stake in Fabrinet by 216.1% during the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after buying an additional 280,145 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Fabrinet by 291.0% during the first quarter. Epoch Investment Partners Inc. now owns 275,531 shares of the technology company’s stock worth $52,081,000 after buying an additional 205,057 shares in the last quarter. Kennedy Capital Management LLC bought a new position in shares of Fabrinet in the first quarter valued at approximately $15,637,000. Finally, Congress Wealth Management LLC DE bought a new stake in Fabrinet during the 4th quarter worth approximately $10,936,000. 97.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FN shares. B. Riley raised their price target on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They issued a “hold” rating and a $230.00 target price for the company. JPMorgan Chase & Co. upped their target price on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC raised their price target 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 increased their price objective on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $219.00.

Insider Activity at Fabrinet

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.00, for a total transaction of $27,000.00. Following the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at $5,223,690. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the sale, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the completion of the transaction, the chief executive officer now directly owns 37,643 shares in the company, valued at approximately $10,163,610. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock worth $11,645,062 in the last ninety days. Company insiders own 0.51% of the company’s stock.

Fabrinet Price Performance

Shares of NYSE FN opened at $209.92 on Tuesday. The company’s 50 day simple moving average is $232.44 and its 200 day simple moving average is $218.37. The firm has a market capitalization of $7.59 billion, a P/E ratio of 27.88 and a beta of 0.95. Fabrinet has a fifty-two week low of $146.65 and a fifty-two week high of $278.38.

Fabrinet (NYSE:FN) last announced its quarterly earnings data 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 return on equity of 18.10% and a net margin of 10.27%. The business had revenue of $753.26 million during the quarter, compared to analysts’ expectations of $732.63 million. During the same period in the previous year, the firm earned $1.68 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Sell-side analysts expect that Fabrinet will post 9.11 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.