Emerald Advisers LLC Purchases 43,359 Shares of Fabrinet (NYSE:FN)

Emerald Advisers LLC increased its position in Fabrinet (NYSE:FN) by 87.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,167 shares of the technology company’s stock after purchasing an additional 43,359 shares during the quarter. Emerald Advisers LLC owned approximately 0.26% of Fabrinet worth $22,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Fabrinet by 0.9% during the first quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company’s stock worth $821,986,000 after buying an additional 38,999 shares during the last quarter. TD Asset Management Inc lifted its stake in shares of Fabrinet by 216.1% in the 1st quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock valued at $77,453,000 after purchasing an additional 280,145 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Fabrinet by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company’s stock worth $77,027,000 after purchasing an additional 12,409 shares during the last quarter. Epoch Investment Partners Inc. grew its stake in shares of Fabrinet by 9.6% during the second quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company’s stock worth $73,928,000 after purchasing an additional 26,475 shares during the period. Finally, Westfield Capital Management Co. LP increased its holdings in Fabrinet by 13.4% in the first quarter. Westfield Capital Management Co. LP now owns 300,421 shares of the technology company’s stock valued at $56,786,000 after purchasing an additional 35,529 shares during the last quarter. 97.38% of the stock is owned by institutional investors.

Fabrinet Stock Performance

FN stock traded up $1.56 during mid-day trading on Friday, hitting $242.53. 867,430 shares of the company were exchanged, compared to its average volume of 398,121. The firm has a market cap of $8.80 billion, a P/E ratio of 29.94 and a beta of 0.95. Fabrinet has a 1-year low of $152.80 and a 1-year high of $278.38. The firm’s 50 day simple moving average is $239.06 and its 200 day simple moving average is $230.25.

Fabrinet (NYSE:FN) last posted its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 EPS for the quarter, beating the consensus estimate of $2.06 by $0.35. The business had revenue of $753.26 million for the quarter, compared to analysts’ expectations of $732.63 million. Fabrinet had a net margin of 10.27% and a return on equity of 18.10%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.68 EPS. On average, equities research analysts predict that Fabrinet will post 9.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FN shares. Needham & Company LLC raised their target price on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. B. Riley upped their target price on shares of Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. JPMorgan Chase & Co. increased their target price on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Rosenblatt Securities boosted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $248.50.

Insider Transactions at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Csaba Sverha sold 100 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total transaction of $27,000.00. Following the completion of the transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at $5,223,690. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the sale, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock valued at $11,645,062 over the last three months. Company insiders own 0.38% of the company’s stock.

Fabrinet Company 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.