Teachers Retirement System of The State of Kentucky Purchases 5,800 Shares of Fabrinet (NYSE:FN)

Teachers Retirement System of The State of Kentucky raised its position in shares of Fabrinet (NYSE:FNGet Rating) by 57.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,952 shares of the technology company’s stock after purchasing an additional 5,800 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Fabrinet were worth $1,677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Archer Investment Corp purchased a new stake in shares of Fabrinet during the 1st quarter valued at about $58,000. Van ECK Associates Corp boosted its holdings in shares of Fabrinet by 16.0% during the 1st quarter. Van ECK Associates Corp now owns 943 shares of the technology company’s stock valued at $99,000 after acquiring an additional 130 shares during the last quarter. Evergreen Capital Management LLC purchased a new stake in shares of Fabrinet during the 4th quarter valued at about $239,000. Captrust Financial Advisors boosted its holdings in shares of Fabrinet by 99.9% during the 1st quarter. Captrust Financial Advisors now owns 2,031 shares of the technology company’s stock valued at $214,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Fabrinet during the 4th quarter valued at about $259,000. 97.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FN shares. StockNews.com raised shares of Fabrinet from a “hold” rating to a “buy” rating in a report on Wednesday, August 24th. Needham & Company LLC raised their price objective on shares of Fabrinet from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, August 16th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Fabrinet from $115.00 to $88.00 and set a “neutral” rating on the stock in a report on Thursday, July 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.60.

Insiders Place Their Bets

In other news, CEO Seamus Grady sold 17,681 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $106.36, for a total transaction of $1,880,551.16. Following the transaction, the chief executive officer now directly owns 46,416 shares of the company’s stock, valued at $4,936,805.76. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Seamus Grady sold 17,681 shares of Fabrinet stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $106.36, for a total transaction of $1,880,551.16. Following the transaction, the chief executive officer now directly owns 46,416 shares of the company’s stock, valued at $4,936,805.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Harpal Gill sold 21,088 shares of Fabrinet stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $117.70, for a total transaction of $2,482,057.60. Following the transaction, the chief operating officer now directly owns 39,656 shares in the company, valued at $4,667,511.20. The disclosure for this sale can be found here. Insiders sold a total of 115,129 shares of company stock valued at $12,818,755 over the last 90 days. Insiders own 0.42% of the company’s stock.

Fabrinet Trading Down 0.8 %

Fabrinet stock opened at $96.50 on Thursday. Fabrinet has a 1 year low of $74.57 and a 1 year high of $126.28. The stock has a market cap of $3.52 billion, a P/E ratio of 18.00 and a beta of 0.95. The firm’s 50 day moving average price is $98.61 and its 200-day moving average price is $94.10. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.83 and a quick ratio of 1.80.

Fabrinet (NYSE:FNGet Rating) last announced its quarterly earnings results on Monday, August 15th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.26. The firm had revenue of $587.90 million during the quarter, compared to the consensus estimate of $581.48 million. Fabrinet had a net margin of 8.86% and a return on equity of 16.67%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 EPS. On average, equities analysts predict that Fabrinet will post 6.11 earnings per share for the current fiscal year.

Fabrinet Profile

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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.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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