Moody Aldrich Partners LLC Sells 6,703 Shares of Fabrinet (NYSE:FN)

Moody Aldrich Partners LLC decreased its holdings in Fabrinet (NYSE:FN) by 32.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,952 shares of the technology company’s stock after selling 6,703 shares during the quarter. Moody Aldrich Partners LLC’s holdings in Fabrinet were worth $3,299,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FN. nVerses Capital LLC acquired a new stake in Fabrinet during the 3rd quarter worth about $567,000. Norden Group LLC increased its position in shares of Fabrinet by 1,775.2% during the 1st quarter. Norden Group LLC now owns 28,616 shares of the technology company’s stock worth $5,409,000 after purchasing an additional 27,090 shares during the last quarter. Pitcairn Co. acquired a new stake in Fabrinet in the 1st quarter valued at approximately $544,000. Seven Eight Capital LP acquired a new position in Fabrinet in the 1st quarter valued at about $1,588,000. Finally, DekaBank Deutsche Girozentrale boosted its position in Fabrinet by 27.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 79,088 shares of the technology company’s stock valued at $15,036,000 after buying an additional 17,000 shares during the period. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Fabrinet Stock Performance

FN stock traded down $2.45 on Thursday, reaching $244.20. The company had a trading volume of 67,818 shares, compared to its average volume of 480,582. The company has a market cap of $8.83 billion, a P/E ratio of 32.76 and a beta of 0.95. Fabrinet has a 1 year low of $149.19 and a 1 year high of $278.38. The company’s fifty day moving average is $239.85 and its 200 day moving average is $226.95.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The firm had revenue of $753.26 million during the quarter, compared to the consensus estimate of $732.63 million. During the same quarter in the previous year, the business earned $1.68 earnings per share. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts predict that Fabrinet will post 9.11 earnings per share for the current year.

Insider Buying and Selling at Fabrinet

In other news, CFO Csaba Sverha sold 100 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the sale, the chief financial officer now owns 19,347 shares in the company, valued at approximately $5,223,690. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Csaba Sverha sold 100 shares of Fabrinet stock in a transaction dated 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 of the company’s stock, valued at $5,223,690. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,728 shares of company stock worth $11,645,062 in the last 90 days. 0.51% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on FN shares. JPMorgan Chase & Co. lifted their price target on shares of Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. B. Riley increased their price target on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Rosenblatt Securities lifted their target price on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 20th. Needham & Company LLC boosted their price target on shares of Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 20th. Finally, Jefferies Financial Group assumed coverage on Fabrinet in a report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective on the stock. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and an average price target of $219.00.

About Fabrinet

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.