Qsemble Capital Management LP Buys Shares of 3,160 Fabrinet (NYSE:FN)

Qsemble Capital Management LP purchased a new position in Fabrinet (NYSE:FN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,160 shares of the technology company’s stock, valued at approximately $774,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Opal Wealth Advisors LLC acquired a new position in Fabrinet during the 2nd quarter valued at approximately $28,000. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet during the second quarter valued at $35,000. Parallel Advisors LLC grew its position 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 acquiring an additional 77 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Fabrinet by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock worth $55,000 after acquiring an additional 109 shares during the period. Finally, UMB Bank n.a. bought a new stake in Fabrinet in the 1st quarter valued at about $57,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Fabrinet Stock Performance

Shares of NYSE FN opened at $230.04 on Friday. Fabrinet has a 1 year low of $148.30 and a 1 year high of $278.38. The firm has a market cap of $8.32 billion, a P/E ratio of 30.55 and a beta of 0.96. The stock has a fifty day moving average price of $230.70 and a two-hundred day moving average price of $218.65.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $732.63 million. During the same quarter in the prior year, the firm posted $1.68 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. On average, research analysts predict that Fabrinet will post 9.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

FN has been the subject of several recent analyst reports. 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. B. Riley increased their price objective on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on Fabrinet in a research report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 target price on the stock. Rosenblatt Securities boosted their price target on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, Needham & Company LLC increased their price target on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $219.00.

Insider Activity

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the transaction, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the business’s 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 sale, the chief financial officer now owns 19,347 shares in the company, valued at approximately $5,223,690. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the sale, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,728 shares of company stock worth $11,645,062. Corporate insiders own 0.51% of the company’s stock.

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.