26,479 Shares in Fabrinet (FN) Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC purchased a new stake in shares of Fabrinet (NYSE:FN) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 26,479 shares of the technology company’s stock, valued at approximately $1,225,000. Sterling Capital Management LLC owned about 0.07% of Fabrinet at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Sapphire Star Partners LP grew its stake in Fabrinet by 5.9% in the 2nd quarter. Sapphire Star Partners LP now owns 23,409 shares of the technology company’s stock worth $864,000 after acquiring an additional 1,296 shares in the last quarter. Millennium Management LLC grew its stake in Fabrinet by 20.1% in the 1st quarter. Millennium Management LLC now owns 9,353 shares of the technology company’s stock worth $293,000 after acquiring an additional 1,565 shares in the last quarter. Yorktown Management & Research Co Inc grew its stake in Fabrinet by 11.3% in the 2nd quarter. Yorktown Management & Research Co Inc now owns 15,634 shares of the technology company’s stock worth $577,000 after acquiring an additional 1,584 shares in the last quarter. Scout Investments Inc. grew its stake in Fabrinet by 2.2% in the 3rd quarter. Scout Investments Inc. now owns 82,007 shares of the technology company’s stock worth $3,794,000 after acquiring an additional 1,758 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Fabrinet by 19.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 17,850 shares of the technology company’s stock worth $658,000 after acquiring an additional 2,910 shares in the last quarter. Institutional investors own 99.66% of the company’s stock.

NYSE FN opened at $52.01 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.21 and a current ratio of 3.00. Fabrinet has a 52-week low of $24.02 and a 52-week high of $54.70. The company has a market cap of $1.84 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.37 and a beta of 0.68.

Fabrinet (NYSE:FN) last released its quarterly earnings data on Monday, November 5th. The technology company reported $0.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.24. Fabrinet had a net margin of 6.54% and a return on equity of 13.53%. The firm had revenue of $377.00 million for the quarter, compared to the consensus estimate of $352.28 million. During the same period last year, the firm earned $0.75 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts predict that Fabrinet will post 2.8 earnings per share for the current year.

In other news, Director Rollance E. Olson sold 5,000 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $48.03, for a total transaction of $240,150.00. Following the transaction, the director now directly owns 48,303 shares in the company, valued at $2,319,993.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Toh-Seng Ng sold 40,000 shares of the stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $47.78, for a total transaction of $1,911,200.00. Following the transaction, the chief financial officer now owns 157,340 shares in the company, valued at $7,517,705.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 165,000 shares of company stock worth $7,727,350. Insiders own 1.90% of the company’s stock.

A number of brokerages have commented on FN. Zacks Investment Research downgraded shares of Fabrinet from a “buy” rating to a “hold” rating in a research note on Friday, August 24th. Needham & Company LLC downgraded shares of Fabrinet from a “strong-buy” rating to a “buy” rating and upped their target price for the stock from $45.00 to $55.00 in a research note on Tuesday, August 21st. They noted that the move was a valuation call. Piper Jaffray Companies upgraded shares of Fabrinet to an “overweight” rating and set a $56.00 target price on the stock in a research note on Tuesday. B. Riley upped their target price on shares of Fabrinet from $40.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. Finally, ValuEngine upgraded shares of Fabrinet from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $50.17.

COPYRIGHT VIOLATION WARNING: “26,479 Shares in Fabrinet (FN) Acquired by Sterling Capital Management LLC” was originally reported by WKRB News and is the property of of WKRB News. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://www.wkrb13.com/2018/11/09/26479-shares-in-fabrinet-fn-acquired-by-sterling-capital-management-llc.html.

Fabrinet Company Profile

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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.

Further Reading: Hedge Funds Explained

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

Receive News & Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply