Dupont Capital Management Corp purchased a new stake in shares of Fabrinet (NYSE:FN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,108 shares of the technology company’s stock, valued at approximately $486,000.
Several other hedge funds have also recently added to or reduced their stakes in FN. Teachers Advisors LLC raised its holdings in shares of Fabrinet by 325.2% during the first quarter. Teachers Advisors LLC now owns 367,403 shares of the technology company’s stock valued at $15,442,000 after acquiring an additional 280,990 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Fabrinet by 63.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,038 shares of the technology company’s stock valued at $129,000 after acquiring an additional 1,178 shares during the period. Vanguard Group Inc. raised its holdings in shares of Fabrinet by 6.9% during the first quarter. Vanguard Group Inc. now owns 1,893,564 shares of the technology company’s stock valued at $79,586,000 after acquiring an additional 121,411 shares during the period. Geode Capital Management LLC raised its holdings in shares of Fabrinet by 10.5% during the first quarter. Geode Capital Management LLC now owns 277,645 shares of the technology company’s stock valued at $11,669,000 after acquiring an additional 26,304 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Fabrinet by 60,498.5% during the first quarter. BlackRock Inc. now owns 4,311,581 shares of the technology company’s stock valued at $181,218,000 after acquiring an additional 4,304,466 shares during the period. Institutional investors and hedge funds own 94.37% of the company’s stock.
In other Fabrinet news, insider David T. Mitchell sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $30.03, for a total value of $1,501,500.00. Following the completion of the sale, the insider now directly owns 111,057 shares of the company’s stock, valued at $3,335,041.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas F. Kelly sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $38.24, for a total transaction of $1,147,200.00. Following the completion of the sale, the director now directly owns 64,635 shares of the company’s stock, valued at $2,471,642.40. The disclosure for this sale can be found here. Insiders sold 257,500 shares of company stock valued at $9,535,850 over the last three months. Insiders own 3.30% of the company’s stock.
Fabrinet (NYSE:FN) opened at $31.11 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 1.85. The firm has a market cap of $1,169.38, a P/E ratio of 12.39, a price-to-earnings-growth ratio of 1.17 and a beta of 1.03. Fabrinet has a 12 month low of $28.60 and a 12 month high of $49.63.
Fabrinet (NYSE:FN) last posted its earnings results on Monday, August 21st. The technology company reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.83 by ($0.11). The business had revenue of $370.50 million during the quarter, compared to the consensus estimate of $363.41 million. Fabrinet had a return on equity of 14.35% and a net margin of 6.60%. The business’s revenue was up 34.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 earnings per share. equities research analysts expect that Fabrinet will post 2.22 earnings per share for the current year.
Fabrinet announced that its board has initiated a stock buyback program on Monday, August 21st that permits the company to buyback $30.00 million in shares. This buyback authorization permits the technology company to repurchase up to 21% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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A number of research firms have recently issued reports on FN. J P Morgan Chase & Co restated an “overweight” rating and set a $54.00 price target (down previously from $57.00) on shares of Fabrinet in a report on Tuesday, August 22nd. ValuEngine lowered shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Needham & Company LLC reiterated a “buy” rating on shares of Fabrinet in a research note on Thursday, October 12th. Zacks Investment Research upgraded shares of Fabrinet from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Fabrinet in a research note on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $46.42.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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