Nations Financial Group Inc. IA ADV Makes New $679,000 Investment in Fabrinet (NYSE:FN)

Nations Financial Group Inc. IA ADV bought a new stake in Fabrinet (NYSE:FN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,873 shares of the technology company’s stock, valued at approximately $679,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in Fabrinet by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company’s stock worth $821,986,000 after acquiring an additional 38,999 shares during the last quarter. TD Asset Management Inc lifted its position in shares of Fabrinet by 216.1% during the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock worth $77,453,000 after purchasing an additional 280,145 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Fabrinet by 4.1% during the second quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company’s stock valued at $77,027,000 after purchasing an additional 12,409 shares during the last quarter. Epoch Investment Partners Inc. increased its holdings in shares of Fabrinet by 9.6% in the second quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company’s stock valued at $73,928,000 after purchasing an additional 26,475 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its position in Fabrinet by 13.4% in the 1st quarter. Westfield Capital Management Co. LP now owns 300,421 shares of the technology company’s stock worth $56,786,000 after purchasing an additional 35,529 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Edward T. Archer sold 8,690 shares of the business’s 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 completion of the transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at $1,835,426.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Seamus Grady sold 26,650 shares of the 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 completion of the sale, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,728 shares of company stock worth $11,645,062. Company insiders own 0.38% of the company’s stock.

Fabrinet Trading Down 2.7 %

NYSE FN opened at $251.81 on Thursday. Fabrinet has a 12 month low of $159.30 and a 12 month high of $278.38. The stock has a 50-day simple moving average of $240.79 and a 200 day simple moving average of $234.94. The company has a market capitalization of $9.13 billion, a PE ratio of 30.63 and a beta of 0.95.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. The company had revenue of $804.20 million during the quarter, compared to analysts’ expectations of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. Fabrinet’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.78 EPS. As a group, sell-side analysts predict that Fabrinet will post 9.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. B. Riley decreased their price objective on Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Needham & Company LLC started coverage on Fabrinet in a report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price target on the stock. Rosenblatt Securities boosted their price objective on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. upped their target price on shares of Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Fabrinet currently has an average rating of “Moderate Buy” and an average price target of $248.17.

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.