Fabrinet $FN Shares Bought by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management increased its Fabrinet position by 41.7% in the third quarter, adding 7,954 shares and bringing its holdings to 27,020 shares valued at approximately $11.5 million. Institutional investors collectively own 97.38% of the company.
• Fabrinet reported quarterly revenue of $1.32 billion and earnings of $4.10 per share, beating analyst expectations and marking 44.6% year-over-year revenue growth.
• Shares opened at $368.93, while analysts maintain a “Moderate Buy” consensus with an average price target of $631.88, despite several recent target-price reductions.

Motley Fool Asset Management LLC boosted its position in Fabrinet (NYSE:FN - Free Report) by 41.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,020 shares of the technology company's stock after buying an additional 7,954 shares during the period. Motley Fool Asset Management LLC's holdings in Fabrinet were worth $11,464,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Great Lakes Advisors LLC bought a new position in shares of Fabrinet in the 2nd quarter worth about $3,024,000. B.A. Schrock Wealth Management Inc. acquired a new position in shares of Fabrinet in the 3rd quarter valued at about $1,305,000. Engineers Gate Manager LP bought a new stake in shares of Fabrinet during the 2nd quarter valued at about $2,491,000. Sei Investments Co. boosted its position in shares of Fabrinet by 22.0% during the 1st quarter. Sei Investments Co. now owns 89,843 shares of the technology company's stock valued at $46,854,000 after purchasing an additional 16,218 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Fabrinet by 23.0% during the 1st quarter. California State Teachers Retirement System now owns 41,747 shares of the technology company's stock valued at $21,772,000 after purchasing an additional 7,819 shares in the last quarter. Institutional investors own 97.38% of the company's stock.

Fabrinet Trading Up 7.5%

FN opened at $368.93 on Thursday. The company has a fifty day moving average price of $408.98 and a two-hundred day moving average price of $523.49. Fabrinet has a 1-year low of $305.63 and a 1-year high of $748.89. The company has a market cap of $13.22 billion, a P/E ratio of 28.27 and a beta of 1.23.

Fabrinet (NYSE:FN - Get Free Report) last released its quarterly earnings data on Tuesday, August 18th. The technology company reported $4.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.81 by $0.29. The company had revenue of $1.32 billion for the quarter, compared to analysts' expectations of $1.28 billion. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. The business's revenue was up 44.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.65 EPS. On average, research analysts forecast that Fabrinet will post 17.50 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Edward Archer sold 2,500 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $385.91, for a total transaction of $964,775.00. Following the transaction, the executive vice president directly owned 7,007 shares of the company's stock, valued at approximately $2,704,071.37. This represents a 26.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on FN. Needham & Company LLC decreased their target price on Fabrinet from $650.00 to $500.00 and set a "buy" rating for the company in a research note on Tuesday. Rosenblatt Securities reissued a "buy" rating and issued a $750.00 price target on shares of Fabrinet in a research note on Tuesday, August 18th. JPMorgan Chase & Co. increased their price target on Fabrinet from $680.00 to $695.00 and gave the stock a "neutral" rating in a report on Tuesday, August 18th. Wall Street Zen downgraded shares of Fabrinet from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Susquehanna reduced their price objective on shares of Fabrinet from $850.00 to $600.00 and set a "positive" rating for the company in a research report on Wednesday, October 21st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Fabrinet presently has a consensus rating of "Moderate Buy" and a consensus target price of $631.88.

Fabrinet Profile

Fabrinet NYSE: FN is a provider of outsourced manufacturing services for complex optical, electronic and electromechanical products. The company works with original equipment manufacturers and other technology companies to design, manufacture, assemble, test and distribute products used in optical communications, industrial lasers, automotive applications, medical devices and other advanced technology markets.

Its capabilities include precision optical packaging, optical and electronic assembly, printed circuit board assembly, electromechanical manufacturing, engineering support, supply-chain management and testing.

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