Knights of Columbus Asset Advisors LLC Has $2.74 Million Holdings in Fabrinet (NYSE:FN)

Knights of Columbus Asset Advisors LLC increased its stake in shares of Fabrinet (NYSE:FNFree Report) by 3.2% in the third quarter, Holdings Channel reports. The firm owned 16,433 shares of the technology company’s stock after buying an additional 512 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in Fabrinet were worth $2,738,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. AdvisorNet Financial Inc grew its stake in Fabrinet by 9,966.7% in the second quarter. AdvisorNet Financial Inc now owns 302 shares of the technology company’s stock valued at $39,000 after acquiring an additional 299 shares during the period. Federated Hermes Inc. grew its stake in Fabrinet by 652.6% in the third quarter. Federated Hermes Inc. now owns 429 shares of the technology company’s stock valued at $41,000 after acquiring an additional 372 shares during the period. NewEdge Advisors LLC grew its stake in Fabrinet by 39.9% in the first quarter. NewEdge Advisors LLC now owns 417 shares of the technology company’s stock valued at $50,000 after acquiring an additional 119 shares during the period. 1832 Asset Management L.P. acquired a new position in Fabrinet in the fourth quarter valued at about $51,000. Finally, Point72 Hong Kong Ltd acquired a new position in Fabrinet in the second quarter valued at about $56,000. 97.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Fabrinet

In other Fabrinet news, Director Thomas F. Kelly sold 3,235 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $166.75, for a total value of $539,436.25. Following the sale, the director now owns 29,797 shares in the company, valued at $4,968,649.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Fabrinet news, Director Thomas F. Kelly sold 3,235 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $166.75, for a total value of $539,436.25. Following the sale, the director now owns 29,797 shares in the company, valued at $4,968,649.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Thomas F. Kelly sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $171.31, for a total value of $513,930.00. Following the completion of the sale, the director now owns 36,532 shares in the company, valued at approximately $6,258,296.92. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.

Fabrinet Stock Performance

FN opened at $186.56 on Thursday. Fabrinet has a 52-week low of $90.19 and a 52-week high of $199.99. The firm has a market capitalization of $6.78 billion, a PE ratio of 27.68 and a beta of 1.06. The business’s 50-day simple moving average is $178.47 and its 200 day simple moving average is $158.15.

Fabrinet (NYSE:FNGet Free Report) last released its earnings results on Monday, November 6th. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.14. Fabrinet had a return on equity of 17.54% and a net margin of 9.28%. The business had revenue of $685.48 million for the quarter, compared to analyst estimates of $659.33 million. On average, research analysts forecast that Fabrinet will post 7.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FN. StockNews.com began coverage on Fabrinet in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Royal Bank of Canada boosted their price target on Fabrinet from $40.00 to $42.00 and gave the company a “sector perform” rating in a report on Wednesday, November 1st. Rosenblatt Securities initiated coverage on Fabrinet in a report on Thursday, October 5th. They issued a “buy” rating and a $230.00 price target on the stock. Finally, JPMorgan Chase & Co. lowered Fabrinet from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $185.00 to $210.00 in a report on Monday, January 8th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.89.

Read Our Latest Report on Fabrinet

Fabrinet Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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