Calamos Advisors LLC bought a new position in shares of Fabrinet (NYSE:FN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,077 shares of the company’s stock, valued at approximately $366,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quantbot Technologies LP bought a new stake in shares of Fabrinet during the third quarter worth $104,000. Creative Planning increased its stake in shares of Fabrinet by 49.5% in the third quarter. Creative Planning now owns 2,810 shares of the company’s stock worth $125,000 after buying an additional 930 shares during the period. Thompson Davis & CO. Inc. bought a new stake in shares of Fabrinet during the third quarter worth $145,000. Teacher Retirement System of Texas increased its stake in shares of Fabrinet by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,223 shares of the company’s stock worth $157,000 after buying an additional 511 shares during the period. Finally, Advisors Preferred LLC increased its stake 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 worth $169,000 after buying an additional 3,455 shares during the period. Institutional investors and hedge funds own 90.98% of the company’s stock.
Shares of Fabrinet (NYSE:FN) traded up 5.3172% during trading on Monday, reaching $47.3401. 905,957 shares of the company traded hands. Fabrinet has a 12 month low of $25.82 and a 12 month high of $47.50. The company has a 50-day moving average of $39.66 and a 200-day moving average of $40.80. The stock has a market capitalization of $1.75 billion, a PE ratio of 20.0000 and a beta of 1.50.
Fabrinet (NYSE:FN) last issued its quarterly earnings data on Monday, February 6th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.12. The business earned $351.20 million during the quarter, compared to analyst estimates of $335.07 million. Fabrinet had a net margin of 7.32% and a return on equity of 15.24%. The firm’s quarterly revenue was up 50.7% on a year-over-year basis. During the same quarter last year, the business earned $0.50 EPS. Analysts forecast that Fabrinet will post $3.48 earnings per share for the current fiscal year.
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A number of brokerages have weighed in on FN. B. Riley reissued a “buy” rating and issued a $53.75 price target on shares of Fabrinet in a report on Tuesday, February 7th. Stifel Nicolaus raised their price objective on shares of Fabrinet from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $56.00 price objective (up from $54.00) on shares of Fabrinet in a report on Monday, October 31st. J P Morgan Chase & Co set a $50.00 price objective on shares of Fabrinet and gave the stock a “buy” rating in a report on Wednesday, January 25th. Finally, Piper Jaffray Companies raised their price objective on shares of Fabrinet from $55.00 to $58.00 and gave the stock an “overweight” rating in a report on Tuesday, February 7th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Fabrinet has an average rating of “Buy” and a consensus price target of $50.25.
In related news, CEO David T. Mitchell sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $39.31, for a total value of $2,948,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David T. Mitchell sold 74,828 shares of the firm’s stock in a transaction that occurred on 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. In the last quarter, insiders sold 224,828 shares of company stock valued at $9,119,024. 4.30% of the stock is owned by company insiders.
Fabrinet Company Profile
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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