GAMMA Investing LLC Buys 96 Shares of Fabrinet (NYSE:FN)

GAMMA Investing LLC grew its position in Fabrinet (NYSE:FN) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 929 shares of the technology company’s stock after purchasing an additional 96 shares during the quarter. GAMMA Investing LLC’s holdings in Fabrinet were worth $204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Legacy Wealth Asset Management LLC raised its holdings in Fabrinet by 3.2% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after acquiring an additional 43 shares during the period. Wolff Wiese Magana LLC grew its position 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 valued at $417,000 after purchasing an additional 47 shares during the last quarter. Cynosure Group LLC increased its stake in shares of Fabrinet by 3.4% in the third quarter. Cynosure Group LLC now owns 1,560 shares of the technology company’s stock worth $369,000 after purchasing an additional 51 shares during the period. Trust Point Inc. lifted its position in shares of Fabrinet by 4.7% during the 3rd 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. Finally, Huntington National Bank boosted its stake in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Price Performance

FN opened at $229.21 on Wednesday. The company has a market capitalization of $8.31 billion, a P/E ratio of 27.13 and a beta of 0.93. The firm’s fifty day moving average price is $236.17 and its two-hundred day moving average price is $236.20. Fabrinet has a fifty-two week low of $159.69 and a fifty-two week high of $278.38.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The business had revenue of $804.20 million for the quarter, compared to analyst estimates of $771.24 million. During the same period in the previous year, the business earned $1.78 EPS. The firm’s revenue was up 17.3% on a year-over-year basis. On average, equities research analysts expect that Fabrinet will post 9.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FN shares. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Needham & Company LLC initiated coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 target price for the company. Finally, Barclays assumed coverage on shares of Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $252.14.

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.