Amalgamated Bank grew its stake in shares of Fabrinet (NYSE:FN - Free Report) by 50.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 16,591 shares of the technology company's stock after acquiring an additional 5,554 shares during the period. Amalgamated Bank's holdings in Fabrinet were worth $3,923,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Moloney Securities Asset Management LLC increased its position in shares of Fabrinet by 49.5% in the third quarter. Moloney Securities Asset Management LLC now owns 1,644 shares of the technology company's stock worth $389,000 after acquiring an additional 544 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Fabrinet by 3.8% in the 3rd quarter. QRG Capital Management Inc. now owns 3,607 shares of the technology company's stock worth $853,000 after purchasing an additional 133 shares during the period. Emerald Advisers LLC grew its position in Fabrinet by 87.1% during the 3rd quarter. Emerald Advisers LLC now owns 93,167 shares of the technology company's stock worth $22,028,000 after purchasing an additional 43,359 shares in the last quarter. Van ECK Associates Corp raised its stake in Fabrinet by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 23,554 shares of the technology company's stock valued at $5,810,000 after purchasing an additional 6,731 shares during the period. Finally, Harbor Capital Advisors Inc. raised its stake in Fabrinet by 44.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,433 shares of the technology company's stock valued at $2,467,000 after purchasing an additional 3,227 shares during the period. 97.38% of the stock is owned by institutional investors.
A number of research analysts have recently weighed in on FN shares. Needham & Company LLC initiated coverage on Fabrinet in a report on Tuesday. They set a "buy" rating and a $280.00 price target on the stock. B. Riley lowered their target price on Fabrinet from $196.00 to $194.00 and set a "neutral" rating on the stock in a research note on Tuesday. Rosenblatt Securities increased their price target 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $240.00 to $285.00 and gave the company a "neutral" 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $248.17.
View Our Latest Analysis on Fabrinet
Shares of NYSE:FN opened at $271.10 on Friday. The stock has a market capitalization of $9.83 billion, a PE ratio of 32.08 and a beta of 0.95. Fabrinet has a 1 year low of $159.30 and a 1 year high of $278.38. The firm has a fifty day moving average price of $239.49 and a 200 day moving average price of $232.77.
Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results 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. The firm had revenue of $804.20 million during the quarter, compared to analysts' expectations of $771.24 million. Fabrinet had a return on equity of 18.50% and a net margin of 10.28%. The company's revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share. On average, sell-side analysts forecast that Fabrinet will post 9.11 earnings per share for the current fiscal year.
In related news, CFO Csaba Sverha sold 100 shares of the company's stock in a transaction 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 transaction, the chief financial officer now directly owns 19,347 shares in the company, valued at $5,223,690. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Edward T. Archer sold 8,690 shares of the business's stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares of the company's stock, valued at $1,835,426.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Csaba Sverha sold 100 shares of the stock in a transaction on Monday, August 26th. The stock was 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 $5,223,690. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,728 shares of company stock valued at $11,645,062. 0.38% of the stock is owned by insiders.
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.
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