Trust Point Inc. Has $301,000 Stock Holdings in Fabrinet (NYSE:FN)

Trust Point Inc. boosted its holdings in shares of Fabrinet (NYSE:FN) by 4.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,272 shares of the technology company’s stock after purchasing an additional 57 shares during the period. Trust Point Inc.’s holdings in Fabrinet were worth $301,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FN. Opal Wealth Advisors LLC acquired a new stake in Fabrinet in the 2nd quarter valued at $28,000. Banque Cantonale Vaudoise acquired a new stake in shares of Fabrinet in the 2nd quarter valued at $35,000. Kimelman & Baird LLC bought a new stake in shares of Fabrinet in the 2nd quarter worth about $49,000. 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 in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Fabrinet by 60.6% during the 1st quarter. GAMMA Investing LLC now owns 289 shares of the technology company’s stock valued at $55,000 after purchasing an additional 109 shares during the last quarter. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, CEO Seamus Grady sold 26,650 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were 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 owns 37,643 shares in the company, valued at approximately $10,163,610. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Edward T. Archer sold 8,690 shares of Fabrinet stock in a transaction that occurred 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 transaction, the executive vice president now owns 8,333 shares of the company’s stock, valued at $1,835,426.58. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Seamus Grady sold 26,650 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,728 shares of company stock valued at $11,645,062. 0.51% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FN shares. Jefferies Financial Group started coverage on shares of Fabrinet in a report on Wednesday, June 26th. They set a “hold” rating and a $230.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC increased their target price on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Rosenblatt Securities raised 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. Finally, B. Riley upped their price target on shares of Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $219.00.

Fabrinet Stock Down 8.9 %

Shares of FN opened at $243.02 on Friday. The stock’s fifty day simple moving average is $237.83 and its 200-day simple moving average is $225.70. The firm has a market capitalization of $8.78 billion, a PE ratio of 32.27 and a beta of 0.95. Fabrinet has a 12-month low of $149.19 and a 12-month high of $278.38.

Fabrinet (NYSE:FN) last released its 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 net margin of 10.27% and a return on equity of 18.10%. The company had revenue of $753.26 million for the quarter, compared to the consensus estimate of $732.63 million. During the same period in the prior year, the company posted $1.68 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. Analysts anticipate that Fabrinet will post 9.11 EPS for the current year.

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.