Trust Point Inc. Has $301,000 Holdings in Fabrinet (NYSE:FN)

Trust Point Inc. lifted its position in Fabrinet (NYSE:FN) by 4.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,272 shares of the technology company’s stock after acquiring an additional 57 shares during the quarter. Trust Point Inc.’s holdings in Fabrinet were worth $301,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FN. nVerses Capital LLC purchased a new stake in shares of Fabrinet in the third quarter valued at $567,000. Wolff Wiese Magana LLC boosted its position in Fabrinet by 2.7% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after acquiring an additional 47 shares during the period. NBC Securities Inc. grew its stake in Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after acquiring an additional 183 shares in the last quarter. Creative Planning increased its holdings in shares of Fabrinet by 22.0% in the 3rd quarter. Creative Planning now owns 13,455 shares of the technology company’s stock valued at $3,181,000 after purchasing an additional 2,422 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Fabrinet by 17.5% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,609 shares of the technology company’s stock worth $617,000 after purchasing an additional 389 shares in the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Fabrinet Stock Performance

FN opened at $243.02 on Friday. The company has a market cap of $8.78 billion, a PE ratio of 32.27 and a beta of 0.95. The stock has a 50-day moving average of $237.83 and a 200-day moving average of $225.70. Fabrinet has a 52-week low of $149.19 and a 52-week high of $278.38.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The firm had revenue of $753.26 million during the quarter, compared to analysts’ expectations of $732.63 million. During the same quarter in the prior year, the business earned $1.68 earnings per share. The company’s revenue was up 14.8% on a year-over-year basis. On average, research analysts predict that Fabrinet will post 9.11 earnings per share for the current year.

Insider Buying and Selling

In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction 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 $1,835,426.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Csaba Sverha sold 100 shares of the company’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock worth $11,645,062 in the last quarter. 0.51% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FN shares. Rosenblatt Securities boosted their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. increased their price objective on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. B. Riley boosted their target price on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Needham & Company LLC raised their price target on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group assumed coverage on Fabrinet in a research note on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target for the company. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Fabrinet presently has an average rating of “Hold” and an average price target of $219.00.

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.