nVerses Capital LLC Purchases New Position in Fabrinet (NYSE:FN)

nVerses Capital LLC bought a new position in shares of Fabrinet (NYSE:FN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,400 shares of the technology company’s stock, valued at approximately $567,000.

Other hedge funds have also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in shares of Fabrinet during the 2nd quarter worth approximately $28,000. Banque Cantonale Vaudoise bought a new position in shares of Fabrinet during the 2nd quarter worth approximately $35,000. Kimelman & Baird LLC bought a new stake in shares of Fabrinet in the 2nd quarter worth approximately $49,000. NBC Securities Inc. raised its holdings in shares of Fabrinet by 732.0% in 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 period. Finally, GAMMA Investing LLC raised its holdings in shares of Fabrinet by 60.6% in the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock worth $55,000 after purchasing an additional 109 shares during the period. Institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Needham & Company LLC lifted their price target on shares of Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Rosenblatt Securities lifted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. 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 report on Tuesday, August 20th. B. Riley lifted their price target on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group began coverage on shares of Fabrinet in a report on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $219.00.

Fabrinet Trading Up 1.7 %

Fabrinet stock opened at $266.91 on Friday. Fabrinet has a 1-year low of $149.19 and a 1-year high of $278.38. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 35.45 and a beta of 0.95. The firm has a 50 day simple moving average of $237.13 and a 200 day simple moving average of $225.04.

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

Insider Activity

In other 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 transaction, the executive vice president now directly owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 value of $1,914,059.40. Following the completion of the sale, the executive vice president now directly owns 8,333 shares of the company’s stock, 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 SEC, which is available at the SEC website. Also, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the completion of the sale, the chief executive officer now directly owns 37,643 shares of the company’s stock, valued at $10,163,610. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,728 shares of company stock worth $11,645,062 in the last three months. Corporate insiders own 0.51% of the company’s stock.

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.