GAMMA Investing LLC Has $197,000 Stake in Fabrinet (NYSE:FN)

GAMMA Investing LLC boosted its position in Fabrinet (NYSE:FN) by 82.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 833 shares of the technology company’s stock after purchasing an additional 376 shares during the quarter. GAMMA Investing LLC’s holdings in Fabrinet were worth $197,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FN. Cim LLC boosted its position in shares of Fabrinet by 1.0% in the second quarter. Cim LLC now owns 5,980 shares of the technology company’s stock valued at $1,344,000 after acquiring an additional 61 shares during the period. Xponance Inc. grew its position in shares of Fabrinet by 3.5% during the 2nd quarter. Xponance Inc. now owns 2,308 shares of the technology company’s stock worth $565,000 after purchasing an additional 78 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Fabrinet by 1.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,780 shares of the technology company’s stock worth $1,904,000 after purchasing an additional 114 shares during the period. Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet in the second quarter valued at approximately $28,000. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in shares of Fabrinet by 3.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,102 shares of the technology company’s stock valued at $775,000 after buying an additional 122 shares during the period. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.00, for a total value of $7,195,500.00. Following the completion of the transaction, the chief executive officer now owns 37,643 shares of the company’s stock, valued at $10,163,610. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the business’s 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 sale, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at $10,163,610. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Csaba Sverha sold 100 shares of the company’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 completion of the transaction, the chief financial officer now owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,728 shares of company stock valued at $11,645,062 in the last 90 days. 0.51% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FN shares. B. Riley raised their price objective on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Needham & Company LLC raised their price target on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Jefferies Financial Group assumed coverage on shares of Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. raised 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. Finally, Rosenblatt Securities upped their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $219.00.

Fabrinet Trading Up 4.1 %

FN stock opened at $263.59 on Friday. The firm has a 50-day moving average price of $230.79 and a 200-day moving average price of $222.51. Fabrinet has a 12 month low of $149.19 and a 12 month high of $278.38. The stock has a market capitalization of $9.53 billion, a P/E ratio of 35.01 and a beta of 0.95.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.06 by $0.35. The business had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.68 EPS. As a group, equities analysts predict that Fabrinet will post 9.11 EPS for the current fiscal year.

Fabrinet 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.