Silvant Capital Management LLC Raises Stock Position in Fabrinet (NYSE:FN)

Silvant Capital Management LLC boosted its position in shares of Fabrinet (NYSE:FN) by 43.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,397 shares of the technology company’s stock after acquiring an additional 2,826 shares during the period. Silvant Capital Management LLC’s holdings in Fabrinet were worth $2,222,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in Fabrinet by 19.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 67,823 shares of the technology company’s stock worth $12,820,000 after acquiring an additional 11,035 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in Fabrinet by 468.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 36,103 shares of the technology company’s stock worth $6,824,000 after purchasing an additional 29,750 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Fabrinet by 11.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 3,598 shares of the technology company’s stock worth $680,000 after purchasing an additional 358 shares during the last quarter. Van ECK Associates Corp increased its stake in Fabrinet by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 14,296 shares of the technology company’s stock valued at $2,702,000 after purchasing an additional 3,824 shares in the last quarter. Finally, Norden Group LLC raised its holdings in shares of Fabrinet by 33.2% in the first quarter. Norden Group LLC now owns 2,032 shares of the technology company’s stock worth $384,000 after buying an additional 506 shares during the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FN has been the topic of several research reports. JPMorgan Chase & Co. upped 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 increased their price objective on Fabrinet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Needham & Company LLC raised their price objective on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Rosenblatt Securities upped their target price on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research 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, Fabrinet has an average rating of “Moderate Buy” and a consensus price target of $248.50.

Insider Buying and Selling at Fabrinet

In related news, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the transaction, the chief financial officer now directly owns 19,768 shares of the company’s stock, valued at $5,338,941.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Csaba Sverha sold 9,288 shares of Fabrinet stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total value of $2,508,503.04. Following the completion of the transaction, the chief financial officer now owns 19,768 shares in the company, valued at $5,338,941.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock valued at $11,645,062 in the last 90 days. Company insiders own 0.38% of the company’s stock.

Fabrinet Stock Performance

NYSE FN opened at $242.53 on Friday. The stock has a 50-day simple moving average of $239.06 and a two-hundred day simple moving average of $229.85. Fabrinet has a fifty-two week low of $152.80 and a fifty-two week high of $278.38. The firm has a market capitalization of $8.80 billion, a P/E ratio of 29.94 and a beta of 0.95.

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