Mount Yale Investment Advisors LLC Lowers Stake in Fabrinet (NYSE:FN)

Mount Yale Investment Advisors LLC reduced its position in Fabrinet (NYSE:FN) by 1.6% in the third quarter, HoldingsChannel.com reports. The firm owned 3,173 shares of the technology company’s stock after selling 50 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Fabrinet were worth $750,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new stake in Fabrinet during the 2nd quarter valued at approximately $28,000. Banque Cantonale Vaudoise purchased a new stake in Fabrinet during the 2nd quarter valued at approximately $35,000. Kimelman & Baird LLC bought a new stake in shares of Fabrinet during the second quarter valued at approximately $49,000. NBC Securities Inc. lifted its holdings in shares of Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after buying an additional 183 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of Fabrinet by 252.9% in the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock worth $57,000 after buying an additional 172 shares in the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Trading Up 0.4 %

Shares of NYSE FN opened at $246.48 on Friday. Fabrinet has a 12-month low of $149.19 and a 12-month high of $278.38. The firm’s 50-day moving average price is $240.45 and its 200-day moving average price is $227.48. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 30.43 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 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.35. The company had revenue of $753.26 million for the quarter, compared to analysts’ expectations of $732.63 million. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.68 earnings per share. On average, equities analysts predict that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Activity at Fabrinet

In related 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 value of $7,195,500.00. Following the completion of the sale, the chief executive officer now directly owns 37,643 shares in the company, valued at $10,163,610. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the transaction, the chief financial officer now owns 19,347 shares of the company’s stock, valued at $5,223,690. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Seamus Grady sold 26,650 shares of the firm’s stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,728 shares of company stock worth $11,645,062. Company insiders own 0.51% of the company’s stock.

Analysts Set New Price Targets

FN has been the topic of a number of research reports. Rosenblatt Securities lifted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. B. Riley raised their price objective on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” 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 company a “buy” rating in a research note 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. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $219.00.

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.