Swiss National Bank Sells 900 Shares of Fabrinet (NYSE:FN)

Swiss National Bank decreased its holdings in Fabrinet (NYSE:FN) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,540 shares of the technology company’s stock after selling 900 shares during the quarter. Swiss National Bank’s holdings in Fabrinet were worth $16,678,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Legacy Wealth Asset Management LLC grew its stake in shares of Fabrinet by 3.2% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after purchasing an additional 43 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Fabrinet by 2.7% in the third quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after purchasing an additional 47 shares during the last quarter. Trust Point Inc. grew its stake in shares of Fabrinet by 4.7% in the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock worth $301,000 after purchasing an additional 57 shares during the last quarter. Huntington National Bank grew its stake in shares of Fabrinet by 70.4% in the third quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the last quarter. Finally, Cim LLC grew its stake in shares of Fabrinet by 1.0% in the second quarter. Cim LLC now owns 5,980 shares of the technology company’s stock worth $1,344,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Fabrinet Trading Up 0.2 %

Shares of NYSE FN opened at $230.50 on Friday. The firm’s 50-day moving average price is $243.99 and its 200-day moving average price is $237.24. Fabrinet has a 1-year low of $159.30 and a 1-year high of $278.38. The firm has a market capitalization of $8.36 billion, a P/E ratio of 27.23 and a beta of 0.95.

Fabrinet (NYSE:FN) last posted its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The company had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same quarter in the prior year, the business posted $1.78 EPS. The firm’s revenue was up 17.3% compared to the same quarter last year. Equities research analysts forecast that Fabrinet will post 9.1 EPS for the current year.

Insider Activity

In related news, CFO Csaba Sverha sold 100 shares of the firm’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 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 approximately $5,223,690. This trade represents a 0.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was 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 of the company’s stock, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on FN. JPMorgan Chase & Co. upped their price target 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. B. Riley cut shares of Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the company from $194.00 to $178.00 in a research report on Wednesday. Barclays began coverage on shares of Fabrinet in a research report on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price target on the stock. Needham & Company LLC began coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target on the stock. Finally, Rosenblatt Securities upped their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Fabrinet presently has an average rating of “Hold” and an average price target of $252.14.

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.