SG Americas Securities LLC Increases Position in Fabrinet (NYSE:FN)

SG Americas Securities LLC boosted its holdings in Fabrinet (NYSE:FN) by 93.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,249 shares of the technology company’s stock after buying an additional 1,573 shares during the quarter. SG Americas Securities LLC’s holdings in Fabrinet were worth $768,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Opal Wealth Advisors LLC acquired a new stake in shares of Fabrinet during the second quarter worth about $28,000. Banque Cantonale Vaudoise acquired a new stake in Fabrinet during the second quarter worth approximately $35,000. Kimelman & Baird LLC acquired a new position in shares of Fabrinet in the 2nd quarter valued at $49,000. GAMMA Investing LLC lifted its holdings in shares of Fabrinet by 60.6% during the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after acquiring an additional 109 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Fabrinet during the 1st quarter worth $63,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Fabrinet Price Performance

Fabrinet stock opened at $263.59 on Friday. The firm has a market capitalization of $9.53 billion, a price-to-earnings ratio of 35.01 and a beta of 0.95. The company’s 50 day simple moving average is $232.01 and its 200 day simple moving average is $223.26. Fabrinet has a fifty-two week low of $149.19 and a fifty-two week high of $278.38.

Fabrinet (NYSE:FN) last released its earnings results 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 net margin of 10.27% and a return on equity of 18.10%. The business had revenue of $753.26 million during the quarter, compared to analysts’ expectations of $732.63 million. During the same period last year, the business earned $1.68 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. As a group, analysts predict that Fabrinet will post 9.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FN. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Jefferies Financial Group initiated coverage on shares of Fabrinet in a report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price target on the stock. Rosenblatt Securities upped their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Needham & Company LLC boosted their target price on shares of Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, B. Riley upped their price objective on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $219.00.

Insider Buying and Selling

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