Miles Capital Inc. Purchases 278 Shares of Fabrinet (NYSE:FN)

Miles Capital Inc. lifted its position in Fabrinet (NYSE:FN) by 6.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,762 shares of the technology company’s stock after buying an additional 278 shares during the quarter. Miles Capital Inc.’s holdings in Fabrinet were worth $237,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Fabrinet by 87.3% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,268 shares of the technology company’s stock valued at $63,000 after buying an additional 591 shares in the last quarter. Cambria Investment Management L.P. bought a new stake in shares of Fabrinet in the 1st quarter valued at approximately $144,000. Advisors Asset Management Inc. grew its stake in shares of Fabrinet by 11.8% in the 1st quarter. Advisors Asset Management Inc. now owns 3,209 shares of the technology company’s stock valued at $168,000 after buying an additional 338 shares in the last quarter. USA Financial Portformulas Corp grew its stake in shares of Fabrinet by 8.2% in the 2nd quarter. USA Financial Portformulas Corp now owns 3,308 shares of the technology company’s stock valued at $173,000 after buying an additional 251 shares in the last quarter. Finally, NumerixS Investment Technologies Inc grew its stake in shares of Fabrinet by 78.9% in the 1st quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the technology company’s stock valued at $178,000 after buying an additional 1,500 shares in the last quarter. 95.13% of the stock is owned by institutional investors and hedge funds.

In other news, Director David T. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $52.14, for a total transaction of $1,564,200.00. Following the completion of the transaction, the director now directly owns 73,748 shares in the company, valued at $3,845,220.72. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Toh-Seng Ng sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $53.70, for a total value of $268,500.00. Following the transaction, the chief financial officer now owns 64,963 shares of the company’s stock, valued at $3,488,513.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,206 shares of company stock valued at $5,228,270. Corporate insiders own 1.90% of the company’s stock.

FN has been the subject of several recent research reports. Needham & Company LLC set a $70.00 price target on Fabrinet and gave the company a “buy” rating in a research note on Monday, August 26th. Stifel Nicolaus decreased their target price on Fabrinet from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. ValuEngine cut Fabrinet from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Piper Jaffray Companies decreased their target price on Fabrinet to $64.00 and set an “overweight” rating for the company in a research report on Tuesday, August 20th. Finally, Zacks Investment Research cut Fabrinet from a “hold” rating to a “sell” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $60.75.

Fabrinet stock traded up $0.83 during trading hours on Friday, reaching $56.34. 7,501 shares of the company were exchanged, compared to its average volume of 551,660. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.30 and a beta of 1.10. The company has a current ratio of 3.27, a quick ratio of 2.33 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $52.21 and a 200 day moving average of $52.84. Fabrinet has a 12 month low of $40.94 and a 12 month high of $62.31.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, August 19th. The technology company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. The firm had revenue of $405.10 million during the quarter, compared to analysts’ expectations of $399.22 million. Fabrinet had a return on equity of 15.40% and a net margin of 7.63%. The company’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. As a group, research analysts forecast that Fabrinet will post 3.26 EPS for the current year.

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.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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