Emerald Mutual Fund Advisers Trust Boosts Stake in Fabrinet (NYSE:FN)

Emerald Mutual Fund Advisers Trust increased its stake in Fabrinet (NYSE:FN) by 71.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 69,556 shares of the technology company’s stock after purchasing an additional 29,003 shares during the period. Emerald Mutual Fund Advisers Trust owned approximately 0.19% of Fabrinet worth $16,446,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Wealth Asset Management LLC increased its holdings in shares of Fabrinet by 3.2% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,375 shares of the technology company’s stock worth $325,000 after buying an additional 43 shares during the period. Wolff Wiese Magana LLC increased its stake in Fabrinet by 2.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,765 shares of the technology company’s stock worth $417,000 after purchasing an additional 47 shares during the period. Trust Point Inc. lifted its position in Fabrinet by 4.7% in the third quarter. Trust Point Inc. now owns 1,272 shares of the technology company’s stock valued at $301,000 after purchasing an additional 57 shares during the last quarter. Cim LLC boosted its stake in shares of Fabrinet by 1.0% during the second quarter. Cim LLC now owns 5,980 shares of the technology company’s stock valued at $1,344,000 after purchasing an additional 61 shares during the period. Finally, Ausbil Investment Management Ltd grew its holdings in shares of Fabrinet by 0.5% in the third quarter. Ausbil Investment Management Ltd now owns 14,741 shares of the technology company’s stock worth $3,485,000 after purchasing an additional 76 shares during the last quarter. 97.38% of the stock is owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

Shares of FN opened at $242.53 on Friday. Fabrinet has a fifty-two week low of $152.80 and a fifty-two week high of $278.38. The firm’s 50-day simple moving average is $239.06 and its two-hundred day simple moving average is $230.25. The stock has a market cap of $8.80 billion, a PE ratio of 29.94 and a beta of 0.95.

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

Insider Transactions at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 0.00 % decrease in their position. The sale 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 firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the transaction, the chief financial officer now owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Edward T. Archer sold 8,690 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 8,333 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders have sold 44,728 shares of company stock worth $11,645,062. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.