Fabrinet (NYSE:FN) Holdings Boosted by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust grew its stake in shares of Fabrinet (NYSE:FN) by 293.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,553 shares of the technology company’s stock after purchasing an additional 30,241 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.11% of Fabrinet worth $9,927,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in Fabrinet during the 2nd quarter worth $28,000. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet during the second quarter valued at $35,000. Parallel Advisors LLC grew its position in shares of Fabrinet by 59.7% during the fourth quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock worth $39,000 after acquiring an additional 77 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Fabrinet by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock worth $55,000 after acquiring an additional 109 shares during the period. Finally, UMB Bank n.a. bought a new stake in Fabrinet in the 1st quarter valued at about $57,000. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on FN. Rosenblatt Securities upped their target price on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Jefferies Financial Group initiated coverage on Fabrinet in a research report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. raised their target price on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. B. Riley lifted 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. Finally, Needham & Company LLC increased 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. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $219.00.

Insider Transactions at Fabrinet

In other news, CEO Seamus Grady sold 26,650 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the completion of the sale, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at $10,163,610. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the sale, the chief executive officer now owns 37,643 shares in the company, valued at $10,163,610. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Csaba Sverha sold 100 shares of the company’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 transaction of $27,000.00. Following the completion of the sale, the chief financial officer now owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. The disclosure for this sale can be found here. Insiders sold a total of 44,728 shares of company stock valued at $11,645,062 in the last three months. 0.51% of the stock is currently owned by corporate insiders.

Fabrinet Trading Down 6.3 %

Shares of Fabrinet stock opened at $210.74 on Friday. Fabrinet has a 52 week low of $146.65 and a 52 week high of $278.38. The stock has a market cap of $7.62 billion, a PE ratio of 27.99 and a beta of 0.96. The company’s 50-day moving average price is $233.10 and its two-hundred day moving average price is $218.10.

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

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.