Intech Investment Management LLC Invests $3.53 Million in Fabrinet (NYSE:FN)

Intech Investment Management LLC bought a new stake in Fabrinet (NYSE:FN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 14,433 shares of the technology company’s stock, valued at approximately $3,533,000.

Other large investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in Fabrinet in the second quarter valued at $28,000. Banque Cantonale Vaudoise acquired a new position in Fabrinet in the 2nd quarter valued at about $35,000. Parallel Advisors LLC raised its stake in Fabrinet by 59.7% during the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after acquiring an additional 77 shares during the last quarter. GAMMA Investing LLC lifted its position in Fabrinet by 60.6% during 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. purchased a new position in shares of Fabrinet in the 1st quarter valued at approximately $57,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Fabrinet Stock Down 1.2 %

Shares of NYSE FN opened at $231.56 on Monday. The firm has a 50-day moving average price of $229.29 and a 200 day moving average price of $219.21. Fabrinet has a 52 week low of $149.19 and a 52 week high of $278.38. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 30.75 and a beta of 0.96.

Fabrinet (NYSE:FN) last released 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. The firm had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. Fabrinet’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the business posted $1.68 EPS. Equities research analysts expect that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Csaba Sverha sold 100 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the transaction, the chief financial officer now directly owns 19,347 shares of the company’s stock, valued at $5,223,690. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock valued at $11,645,062 in the last 90 days. 0.51% of the stock is currently owned by insiders.

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.