Envestnet Asset Management Inc. Acquires 1,085 Shares of Fabrinet (NYSE:FN)

Envestnet Asset Management Inc. raised its holdings in shares of Fabrinet (NYSE:FNGet Rating) by 2.4% during the second quarter, HoldingsChannel reports. The fund owned 47,150 shares of the technology company’s stock after purchasing an additional 1,085 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Fabrinet were worth $3,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of FN. Archer Investment Corp bought a new position in shares of Fabrinet in the first quarter worth $58,000. EverSource Wealth Advisors LLC increased its holdings in shares of Fabrinet by 382.1% in the second quarter. EverSource Wealth Advisors LLC now owns 728 shares of the technology company’s stock worth $59,000 after purchasing an additional 577 shares during the period. Van ECK Associates Corp increased its holdings in shares of Fabrinet by 16.0% in the first quarter. Van ECK Associates Corp now owns 943 shares of the technology company’s stock worth $99,000 after purchasing an additional 130 shares during the period. Nisa Investment Advisors LLC grew its position in Fabrinet by 28.9% in the second quarter. Nisa Investment Advisors LLC now owns 1,381 shares of the technology company’s stock worth $112,000 after acquiring an additional 310 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in Fabrinet by 99.9% in the first quarter. Captrust Financial Advisors now owns 2,031 shares of the technology company’s stock worth $214,000 after acquiring an additional 1,015 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Insider Activity

In other news, CEO Seamus Grady sold 26,360 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $112.24, for a total transaction of $2,958,646.40. Following the completion of the transaction, the chief executive officer now directly owns 74,706 shares of the company’s stock, valued at $8,385,001.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Seamus Grady sold 26,360 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $112.24, for a total transaction of $2,958,646.40. Following the completion of the transaction, the chief executive officer now directly owns 74,706 shares of the company’s stock, valued at $8,385,001.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Harpal Gill sold 21,088 shares of the stock in a transaction dated Thursday, August 18th. The stock was sold at an average price of $117.70, for a total transaction of $2,482,057.60. Following the completion of the transaction, the chief operating officer now directly owns 39,656 shares of the company’s stock, valued at $4,667,511.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,323 shares of company stock valued at $14,549,572. Insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on FN shares. Needham & Company LLC upped their target price on shares of Fabrinet from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, November 8th. Northland Securities upped their target price on shares of Fabrinet from $125.00 to $132.50 in a research report on Thursday, October 6th. StockNews.com upgraded shares of Fabrinet from a “hold” rating to a “buy” rating in a research report on Friday. Finally, B. Riley upped their target price on shares of Fabrinet from $102.00 to $110.00 in a research report on Tuesday, November 8th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Fabrinet has a consensus rating of “Moderate Buy” and a consensus price target of $119.90.

Fabrinet Stock Performance

NYSE FN opened at $126.42 on Monday. The company has a 50-day simple moving average of $104.29 and a two-hundred day simple moving average of $95.35. The company has a quick ratio of 1.80, a current ratio of 2.95 and a debt-to-equity ratio of 0.01. Fabrinet has a 12-month low of $74.57 and a 12-month high of $128.26. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 21.35 and a beta of 1.00.

Fabrinet (NYSE:FNGet Rating) last issued its quarterly earnings data on Monday, August 15th. The technology company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.42 by $0.09. 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 9.28% and a return on equity of 17.74%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 earnings per share. On average, equities analysts forecast that Fabrinet will post 6.68 EPS for the current year.

Fabrinet Profile

(Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding FN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fabrinet (NYSE:FNGet Rating).

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.