GAMMA Investing LLC Makes New Investment in Fabrinet (NYSE:FN)

GAMMA Investing LLC acquired a new position in Fabrinet (NYSE:FN) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 180 shares of the technology company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FN. Campbell Newman Asset Management Inc. increased its holdings in Fabrinet by 0.4% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 17,895 shares of the technology company’s stock valued at $3,406,000 after buying an additional 64 shares during the period. Signaturefd LLC raised its stake in Fabrinet by 15.9% during the third quarter. Signaturefd LLC now owns 503 shares of the technology company’s stock worth $84,000 after buying an additional 69 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Fabrinet by 3.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,208 shares of the technology company’s stock worth $368,000 after acquiring an additional 75 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Fabrinet by 3.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,396 shares of the technology company’s stock worth $399,000 after acquiring an additional 75 shares in the last quarter. Finally, Mariner LLC raised its position in shares of Fabrinet by 2.1% in the 3rd quarter. Mariner LLC now owns 4,103 shares of the technology company’s stock worth $684,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

FN has been the subject of several research reports. Rosenblatt Securities restated a “buy” rating and issued a $230.00 target price on shares of Fabrinet in a research note on Tuesday, February 6th. Northland Securities upgraded Fabrinet from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $200.00 to $220.00 in a research note on Thursday, March 21st. Needham & Company LLC cut their price target on Fabrinet from $230.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. lifted their price target on Fabrinet from $210.00 to $212.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Fabrinet has a consensus rating of “Moderate Buy” and a consensus target price of $159.57.

Fabrinet Stock Up 2.9 %

Fabrinet stock opened at $179.22 on Monday. The stock has a market cap of $6.51 billion, a P/E ratio of 25.90 and a beta of 1.04. The company’s 50 day moving average price is $189.84 and its two-hundred day moving average price is $185.25. Fabrinet has a 52 week low of $90.19 and a 52 week high of $229.02.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, February 5th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.05. Fabrinet had a net margin of 9.35% and a return on equity of 17.27%. The company had revenue of $712.69 million for the quarter, compared to analysts’ expectations of $699.76 million. On average, equities analysts anticipate that Fabrinet will post 7.59 EPS for the current year.

Insider Buying and Selling at Fabrinet

In other news, Director Rollance E. Olson sold 10,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $205.52, for a total transaction of $2,055,200.00. Following the completion of the transaction, the director now directly owns 25,981 shares in the company, valued at approximately $5,339,615.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.51% of the company’s stock.

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.