Dynamic Technology Lab Private Ltd Invests $2.40 Million in Fabrinet (NYSE:FN)

Dynamic Technology Lab Private Ltd purchased a new stake in Fabrinet (NYSE:FN) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 10,142 shares of the technology company’s stock, valued at approximately $2,398,000.

Other institutional investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC lifted its position in shares of Fabrinet by 20.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 3,020 shares of the technology company’s stock valued at $571,000 after acquiring an additional 514 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Fabrinet during the 1st quarter worth $290,000. Janus Henderson Group PLC grew its holdings in shares of Fabrinet by 20.4% during the first quarter. Janus Henderson Group PLC now owns 276,354 shares of the technology company’s stock worth $52,233,000 after buying an additional 46,864 shares in the last quarter. Cetera Advisors LLC raised its position in shares of Fabrinet by 54.0% in the first quarter. Cetera Advisors LLC now owns 3,606 shares of the technology company’s stock valued at $682,000 after buying an additional 1,265 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Fabrinet by 8.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 25,083 shares of the technology company’s stock valued at $4,741,000 after buying an additional 1,968 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction, the executive vice president now directly owns 8,333 shares in the company, valued at $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Needham & Company LLC started coverage on shares of Fabrinet in a research note on Tuesday, November 5th. They set a “buy” rating and a $280.00 price objective for the company. Barclays initiated coverage on Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. B. Riley cut Fabrinet from a “neutral” rating to a “sell” rating and dropped their target price for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. Finally, Rosenblatt Securities lifted their price target on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $252.14.

Fabrinet Stock Up 0.2 %

FN stock opened at $230.43 on Monday. Fabrinet has a 52-week low of $159.30 and a 52-week high of $278.38. The stock has a market cap of $8.36 billion, a price-to-earnings ratio of 27.27 and a beta of 0.95. The business has a fifty day moving average of $244.00 and a two-hundred day moving average of $237.91.

Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. During the same period last year, the company earned $1.78 EPS. The company’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Fabrinet will post 9.1 EPS for the current year.

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.