Transamerica Financial Advisors Inc. Buys New Position in Fabrinet (NYSE:FN)

Transamerica Financial Advisors Inc. bought a new stake in Fabrinet (NYSE:FN) during the third quarter, HoldingsChannel.com reports. The fund bought 482 shares of the technology company’s stock, valued at approximately $114,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FN. Opal Wealth Advisors LLC acquired a new stake in Fabrinet in the 2nd quarter valued at approximately $28,000. Huntington National Bank increased its position in shares of Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after purchasing an additional 57 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Fabrinet during the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC acquired a new position in shares of Fabrinet during the 2nd quarter worth approximately $49,000. Finally, NBC Securities Inc. increased its position in shares of Fabrinet by 732.0% during the 3rd quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Barclays assumed coverage on Fabrinet in a research report on Thursday, November 14th. They set an “equal weight” rating and a $292.00 price target on the stock. Needham & Company LLC assumed coverage on Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 price target on the stock. B. Riley lowered Fabrinet from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $194.00 to $178.00 in a research report on Wednesday, November 20th. Rosenblatt Securities boosted their price target on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $252.14.

Fabrinet Trading Down 4.1 %

Shares of NYSE FN opened at $225.85 on Thursday. Fabrinet has a 12 month low of $159.30 and a 12 month high of $278.38. The stock has a 50 day moving average of $244.11 and a 200-day moving average of $237.99. The company has a market capitalization of $8.19 billion, a P/E ratio of 26.73 and a beta of 0.95.

Fabrinet (NYSE:FN) last issued its earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, topping the consensus estimate of $2.38 by $0.01. The company had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 EPS. Analysts predict that Fabrinet will post 9.1 EPS for the current fiscal year.

Insider Activity at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the completion of the sale, the executive vice president now directly owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 51.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.

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.