WINTON GROUP Ltd Takes $1.09 Million Position in Fabrinet (NYSE:FN)

WINTON GROUP Ltd acquired a new position in Fabrinet (NYSE:FN) in the second quarter, Holdings Channel reports. The firm acquired 4,456 shares of the technology company’s stock, valued at approximately $1,091,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new position in Fabrinet during the 2nd quarter valued at about $28,000. Banque Cantonale Vaudoise purchased a new position in Fabrinet during the second quarter valued at approximately $35,000. Parallel Advisors LLC increased its stake in Fabrinet by 59.7% in the 4th quarter. Parallel Advisors LLC now owns 206 shares of the technology company’s stock valued at $39,000 after buying an additional 77 shares during the period. GAMMA Investing LLC lifted its position in 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 buying an additional 109 shares in the last quarter. Finally, UMB Bank n.a. acquired a new stake in shares of Fabrinet during the 1st quarter valued at $57,000. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Fabrinet Stock Performance

Shares of FN stock opened at $230.04 on Monday. The stock’s 50 day simple moving average is $230.70 and its 200 day simple moving average is $218.87. Fabrinet has a twelve month low of $148.30 and a twelve month high of $278.38. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 30.55 and a beta of 0.96.

Fabrinet (NYSE:FN) last posted 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. The business had revenue of $753.26 million for 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%. Fabrinet’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business posted $1.68 EPS. On average, analysts forecast that Fabrinet will post 9.11 EPS for the current fiscal year.

Insider Transactions at Fabrinet

In related news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the completion of the sale, the executive vice president now owns 8,333 shares in the company, valued at approximately $1,835,426.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Seamus Grady sold 26,650 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 37,643 shares in the company, valued at approximately $10,163,610. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,728 shares of company stock worth $11,645,062. Company insiders own 0.51% of the company’s stock.

Analyst Upgrades and Downgrades

FN has been the topic of a number of research reports. Jefferies Financial Group assumed coverage on shares of Fabrinet in a research note on Wednesday, June 26th. They issued a “hold” rating and a $230.00 price target on the stock. B. Riley upped their target price on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 20th. Needham & Company LLC lifted their price target on Fabrinet from $270.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. increased their price objective on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Finally, Rosenblatt Securities raised their price objective on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Fabrinet currently has an average rating of “Hold” and a consensus price target of $219.00.

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 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.