Olympiad Research LP Raises Holdings in Fabrinet (NYSE:FN)

Olympiad Research LP raised its holdings in shares of Fabrinet (NYSE:FN) by 89.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,047 shares of the technology company’s stock after purchasing an additional 967 shares during the period. Olympiad Research LP’s holdings in Fabrinet were worth $484,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FN. Opal Wealth Advisors LLC purchased a new stake in Fabrinet during the 2nd quarter valued at $28,000. Banque Cantonale Vaudoise purchased a new position in shares of Fabrinet in the 2nd quarter worth $35,000. Kimelman & Baird LLC purchased a new position in shares of Fabrinet in the 2nd quarter worth $49,000. NBC Securities Inc. lifted its position in Fabrinet by 732.0% during the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock valued at $49,000 after purchasing an additional 183 shares in the last quarter. Finally, UMB Bank n.a. raised its holdings in Fabrinet by 252.9% during the third quarter. UMB Bank n.a. now owns 240 shares of the technology company’s stock valued at $57,000 after acquiring an additional 172 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $270.08, for a total value of $2,508,503.04. Following the completion of the sale, the chief financial officer now directly owns 19,768 shares in the company, valued at approximately $5,338,941.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Fabrinet news, CFO Csaba Sverha sold 9,288 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the transaction, the chief financial officer now owns 19,768 shares in the company, valued at approximately $5,338,941.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the sale, the chief executive officer now owns 37,643 shares of the company’s stock, valued at $10,163,610. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,728 shares of company stock worth $11,645,062. 0.38% of the stock is currently owned by company insiders.

Fabrinet Stock Performance

Shares of NYSE FN opened at $246.72 on Thursday. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 29.20 and a beta of 0.95. The stock has a 50 day moving average price of $238.55 and a 200 day moving average price of $231.81. Fabrinet has a 52-week low of $157.55 and a 52-week high of $278.38.

Fabrinet (NYSE:FN) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.50% and a net margin of 10.28%. The firm had revenue of $804.20 million during the quarter, compared to analyst estimates of $771.24 million. During the same quarter in the previous year, the business earned $1.78 earnings per share. Fabrinet’s quarterly revenue was up 17.3% on a year-over-year basis. Analysts forecast that Fabrinet will post 9.11 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on FN. Needham & Company LLC began coverage on Fabrinet in a report on Tuesday. They set a “buy” rating and a $280.00 price target on the stock. B. Riley reduced their target price on Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a report on Tuesday. Rosenblatt Securities lifted their target price on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. lifted their target price on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $248.17.

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.