Commonwealth of Pennsylvania Public School Empls Retrmt SYS Increases Stock Position in Fabrinet (NYSE:FN)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Fabrinet (NYSE:FN) by 3.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,814 shares of the technology company’s stock after purchasing an additional 2,266 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.18% of Fabrinet worth $8,548,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Orion Capital Management LLC acquired a new position in shares of Fabrinet in the first quarter valued at approximately $33,000. Fifth Third Bancorp raised its position in shares of Fabrinet by 98.0% in the first quarter. Fifth Third Bancorp now owns 303 shares of the technology company’s stock valued at $36,000 after buying an additional 150 shares during the last quarter. AdvisorNet Financial Inc raised its position in shares of Fabrinet by 9,966.7% in the second quarter. AdvisorNet Financial Inc now owns 302 shares of the technology company’s stock valued at $39,000 after buying an additional 299 shares during the last quarter. Federated Hermes Inc. raised its position in shares of Fabrinet by 652.6% in the third quarter. Federated Hermes Inc. now owns 429 shares of the technology company’s stock valued at $41,000 after buying an additional 372 shares during the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of Fabrinet by 39.9% in the first quarter. NewEdge Advisors LLC now owns 417 shares of the technology company’s stock valued at $50,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on FN. Northland Securities boosted their price objective on shares of Fabrinet from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Wednesday, August 30th. StockNews.com assumed coverage on shares of Fabrinet in a research report on Thursday, October 5th. They set a “hold” rating for the company. Needham & Company LLC upped their price target on shares of Fabrinet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. Rosenblatt Securities assumed coverage on shares of Fabrinet in a research report on Thursday, October 5th. They set a “buy” rating and a $230.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of Fabrinet from $40.00 to $42.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 1st. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Fabrinet currently has an average rating of “Moderate Buy” and a consensus target price of $143.11.

Fabrinet Stock Up 0.9 %

Fabrinet stock opened at $169.22 on Tuesday. Fabrinet has a 52-week low of $90.19 and a 52-week high of $183.74. The firm has a fifty day moving average of $162.02 and a 200-day moving average of $135.61. The firm has a market capitalization of $6.15 billion, a P/E ratio of 25.11 and a beta of 1.05.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, August 21st. The technology company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.06. Fabrinet had a net margin of 9.28% and a return on equity of 17.54%. The company had revenue of $655.87 million during the quarter, compared to analyst estimates of $641.42 million. During the same quarter in the prior year, the business earned $1.51 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, research analysts expect that Fabrinet will post 7.17 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In other news, CEO Seamus Grady sold 27,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $159.92, for a total value of $4,317,840.00. Following the completion of the transaction, the chief executive officer now directly owns 45,471 shares in the company, valued at $7,271,722.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Seamus Grady sold 27,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $159.92, for a total value of $4,317,840.00. Following the completion of the transaction, the chief executive officer now directly owns 45,471 shares in the company, valued at $7,271,722.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Csaba Sverha sold 20,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $160.90, for a total transaction of $3,218,000.00. Following the completion of the transaction, the chief financial officer now owns 14,073 shares of the company’s stock, valued at $2,264,345.70. The disclosure for this sale can be found here. Insiders sold 57,358 shares of company stock valued at $9,165,464 over the last 90 days. Corporate insiders own 0.51% of the company’s stock.

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.