Aigen Investment Management LP Purchases Shares of 1,870 Fabrinet (NYSE:FN)

Aigen Investment Management LP acquired a new stake in shares of Fabrinet (NYSE:FN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,870 shares of the technology company’s stock, valued at approximately $442,000.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its position in shares of Fabrinet by 14.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 5,168 shares of the technology company’s stock valued at $977,000 after acquiring an additional 652 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in Fabrinet by 3.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 4,102 shares of the technology company’s stock valued at $775,000 after purchasing an additional 122 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Fabrinet by 144.1% in the 1st quarter. SG Americas Securities LLC now owns 2,236 shares of the technology company’s stock worth $423,000 after buying an additional 1,320 shares in the last quarter. Swiss National Bank increased its holdings in shares of Fabrinet by 0.6% in the 1st quarter. Swiss National Bank now owns 71,740 shares of the technology company’s stock worth $13,560,000 after buying an additional 400 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of Fabrinet during the 1st quarter valued at about $63,000. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Insider Transactions at Fabrinet

In other news, EVP Edward T. Archer sold 8,690 shares of the 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 transaction, the executive vice president now directly owns 8,333 shares in the company, valued at approximately $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Seamus Grady sold 26,650 shares of Fabrinet 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 transaction, the chief executive officer now directly owns 37,643 shares in the company, valued at approximately $10,163,610. The trade was a 41.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,728 shares of company stock valued at $11,645,062. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on FN shares. Rosenblatt Securities lifted their price target on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. B. Riley cut their target price on Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Barclays started coverage on Fabrinet in a research report on Thursday. They issued an “equal weight” rating and a $292.00 price target for the company. Needham & Company LLC initiated coverage on shares of Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised 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. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $254.43.

Fabrinet Price Performance

Shares of FN opened at $252.02 on Friday. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of 29.73 and a beta of 0.95. Fabrinet has a 1-year low of $159.30 and a 1-year high of $278.38. The company has a 50-day moving average of $241.33 and a 200 day moving average of $235.06.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.01. Fabrinet had a net margin of 10.28% and a return on equity of 18.08%. The firm had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. On average, equities analysts anticipate that Fabrinet will post 9.1 earnings per share for the current fiscal year.

About Fabrinet

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.