Swiss National Bank Has $2,187,000 Stake in Fabrinet (FN)
Swiss National Bank lowered its position in Fabrinet (NYSE:FN) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,040 shares of the company’s stock after selling 1,200 shares during the period. Swiss National Bank owned 0.14% of Fabrinet worth $2,187,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in FN. Quantbot Technologies LP purchased a new position in shares of Fabrinet during the third quarter valued at about $104,000. Creative Planning increased its position in shares of Fabrinet by 49.5% in the third quarter. Creative Planning now owns 2,810 shares of the company’s stock valued at $125,000 after buying an additional 930 shares in the last quarter. Advisors Preferred LLC increased its position in shares of Fabrinet by 1,034.4% in the third quarter. Advisors Preferred LLC now owns 3,789 shares of the company’s stock valued at $169,000 after buying an additional 3,455 shares in the last quarter. PineBridge Investments L.P. increased its position in shares of Fabrinet by 4.1% in the second quarter. PineBridge Investments L.P. now owns 3,886 shares of the company’s stock valued at $144,000 after buying an additional 154 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of Fabrinet by 1,938.4% in the third quarter. Sei Investments Co. now owns 4,036 shares of the company’s stock valued at $180,000 after buying an additional 3,838 shares in the last quarter. 89.55% of the stock is owned by institutional investors.
Shares of Fabrinet (NYSE:FN) opened at 36.71 on Friday. The firm has a market cap of $1.35 billion, a PE ratio of 16.37 and a beta of 1.58. Fabrinet has a 52-week low of $21.29 and a 52-week high of $46.50. The firm has a 50-day moving average of $40.05 and a 200 day moving average of $40.31.
Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 7th. The company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.09. Fabrinet had a net margin of 7.60% and a return on equity of 14.16%. The firm had revenue of $332.04 million for the quarter, compared to the consensus estimate of $309.44 million. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up 53.4% on a year-over-year basis. On average, equities analysts predict that Fabrinet will post $3.19 earnings per share for the current year.
Several brokerages recently issued reports on FN. B. Riley reissued a “buy” rating and set a $52.75 price target on shares of Fabrinet in a report on Monday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $56.00 price target (up from $54.00) on shares of Fabrinet in a report on Monday, October 31st. Stifel Nicolaus lifted their price target on shares of Fabrinet from $48.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 8th. Zacks Investment Research raised shares of Fabrinet from a “hold” rating to a “strong-buy” rating and set a $47.00 price target for the company in a report on Friday, November 11th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $53.00 price target (up from $50.00) on shares of Fabrinet in a report on Friday, October 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $48.82.
In related news, CEO David T. Mitchell sold 75,000 shares of the company’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $39.31, for a total value of $2,948,250.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David T. Mitchell sold 74,828 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $40.56, for a total transaction of $3,035,023.68. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.
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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