Invictus RG Purchases Shares of 5,817 Fabrinet (FN)

Invictus RG purchased a new position in shares of Fabrinet (NYSE:FN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,817 shares of the technology company’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. grew its position in shares of Fabrinet by 4.3% in the third quarter. BlackRock Inc. now owns 5,227,542 shares of the technology company’s stock valued at $241,826,000 after purchasing an additional 215,696 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Fabrinet by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 3,050,767 shares of the technology company’s stock valued at $141,129,000 after purchasing an additional 119,326 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in shares of Fabrinet by 8.1% in the third quarter. Frontier Capital Management Co. LLC now owns 1,597,382 shares of the technology company’s stock valued at $73,895,000 after purchasing an additional 119,906 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Fabrinet by 7.1% in the third quarter. Bank of New York Mellon Corp now owns 1,169,366 shares of the technology company’s stock valued at $54,095,000 after purchasing an additional 77,284 shares during the last quarter. Finally, Paradigm Capital Management Inc. NY acquired a new position in shares of Fabrinet in the second quarter valued at approximately $29,442,000. 93.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:FN opened at $47.97 on Friday. The company has a market cap of $1.79 billion, a P/E ratio of 18.31, a P/E/G ratio of 1.20 and a beta of 0.65. Fabrinet has a 1 year low of $24.02 and a 1 year high of $54.70. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.09 and a current ratio of 3.00.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 5th. The technology company reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.24. The business had revenue of $377.00 million for the quarter, compared to the consensus estimate of $352.28 million. Fabrinet had a return on equity of 13.53% and a net margin of 6.54%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. On average, analysts anticipate that Fabrinet will post 3.12 EPS for the current fiscal year.

In other Fabrinet news, Director David T. Mitchell sold 40,000 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $45.40, for a total transaction of $1,816,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Toh-Seng Ng sold 30,000 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $52.70, for a total value of $1,581,000.00. Following the sale, the chief financial officer now owns 117,340 shares of the company’s stock, valued at $6,183,818. The disclosure for this sale can be found here. Insiders have sold 109,560 shares of company stock worth $5,451,323 in the last three months. 1.90% of the stock is currently owned by company insiders.

FN has been the topic of a number of analyst reports. B. Riley increased their price target on Fabrinet from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. Zacks Investment Research raised Fabrinet from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Friday, August 17th. Needham & Company LLC downgraded Fabrinet from a “strong-buy” rating to a “buy” rating and increased their price target for the stock from $45.00 to $55.00 in a research report on Tuesday, August 21st. They noted that the move was a valuation call. Piper Jaffray Companies increased their price target on Fabrinet from $42.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 21st. Finally, ValuEngine raised Fabrinet from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Fabrinet currently has an average rating of “Buy” and a consensus target price of $50.17.

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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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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