UBS Asset Management Americas Inc. Purchases 4,641 Shares of Fabrinet (NYSE:FN)

UBS Asset Management Americas Inc. grew its position in Fabrinet (NYSE:FN) by 16.9% during the second quarter, Holdings Channel reports. The institutional investor owned 32,145 shares of the technology company’s stock after acquiring an additional 4,641 shares during the quarter. UBS Asset Management Americas Inc.’s holdings in Fabrinet were worth $1,597,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in FN. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of Fabrinet by 87.3% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,268 shares of the technology company’s stock valued at $63,000 after purchasing an additional 591 shares in the last quarter. USA Financial Portformulas Corp boosted its position in shares of Fabrinet by 8.2% during the 2nd quarter. USA Financial Portformulas Corp now owns 3,308 shares of the technology company’s stock valued at $173,000 after acquiring an additional 251 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Fabrinet during the 2nd quarter valued at about $181,000. Miles Capital Inc. boosted its position in shares of Fabrinet by 6.2% during the 2nd quarter. Miles Capital Inc. now owns 4,762 shares of the technology company’s stock valued at $237,000 after acquiring an additional 278 shares during the last quarter. Finally, Everence Capital Management Inc. boosted its position in shares of Fabrinet by 52.4% during the 2nd quarter. Everence Capital Management Inc. now owns 7,070 shares of the technology company’s stock valued at $351,000 after acquiring an additional 2,430 shares during the last quarter. Institutional investors and hedge funds own 95.26% of the company’s stock.

Several brokerages have recently weighed in on FN. Piper Jaffray Companies lowered their price target on shares of Fabrinet to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 20th. JPMorgan Chase & Co. assumed coverage on shares of Fabrinet in a research note on Monday, July 29th. They set a “neutral” rating and a $57.00 price target on the stock. Zacks Investment Research lowered shares of Fabrinet from a “hold” rating to a “sell” rating in a research note on Friday, August 23rd. ValuEngine lowered shares of Fabrinet from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC set a $70.00 target price on shares of Fabrinet and gave the stock a “buy” rating in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $62.33.

In other Fabrinet news, Director David T. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $50.03, for a total value of $1,500,900.00. Following the sale, the director now directly owns 27,402 shares of the company’s stock, valued at approximately $1,370,922.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Seamus Grady sold 5,206 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $53.74, for a total value of $279,770.44. Following the completion of the sale, the chief executive officer now directly owns 117,760 shares in the company, valued at $6,328,422.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,206 shares of company stock worth $5,242,670. 1.90% of the stock is owned by corporate insiders.

Fabrinet stock opened at $50.00 on Friday. Fabrinet has a one year low of $40.94 and a one year high of $62.31. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.33 and a current ratio of 3.27. The business has a fifty day moving average of $51.72 and a two-hundred day moving average of $52.37. The company has a market cap of $1.84 billion, a P/E ratio of 14.93 and a beta of 1.07.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, August 19th. The technology company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.09. The business 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 business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter last year, the business posted $0.81 earnings per share. Sell-side analysts predict that Fabrinet will post 3.26 EPS for the current year.

Fabrinet 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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