Hantz Financial Services Inc. Sells 1,981 Shares of Fabrinet (NYSE:FN)

Hantz Financial Services Inc. cut its position in shares of Fabrinet (NYSE:FN) by 4.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,447 shares of the technology company’s stock after selling 1,981 shares during the period. Hantz Financial Services Inc.’s holdings in Fabrinet were worth $10,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FN. Opal Wealth Advisors LLC bought a new stake in Fabrinet during the 2nd quarter valued at $28,000. Huntington National Bank raised its position in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock valued at $33,000 after purchasing an additional 57 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Fabrinet during the 2nd quarter valued at $35,000. Kimelman & Baird LLC bought a new stake in Fabrinet during the 2nd quarter valued at $49,000. Finally, NBC Securities Inc. raised its position in Fabrinet by 732.0% during the 3rd 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. 97.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Edward T. Archer sold 8,690 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 8,333 shares in the company, valued at $1,835,426.58. The trade was a 51.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by company insiders.

Fabrinet Trading Down 4.1 %

Shares of NYSE:FN opened at $225.85 on Friday. Fabrinet has a 12-month low of $159.30 and a 12-month high of $278.38. The business’s fifty day simple moving average is $243.94 and its 200-day simple moving average is $237.91. The company has a market capitalization of $8.19 billion, a PE ratio of 26.73 and a beta of 0.95.

Fabrinet (NYSE:FN) last announced its earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. During the same period in the previous year, the business earned $1.78 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. Research analysts predict that Fabrinet will post 9.1 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC assumed coverage on Fabrinet in a research report on Tuesday, November 5th. They set a “buy” rating and a $280.00 target price for the company. Barclays initiated coverage on Fabrinet in a research report on Thursday, November 14th. They set an “equal weight” rating and a $292.00 target price for the company. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and cut their price target for the company from $194.00 to $178.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their price target on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Finally, Rosenblatt Securities lifted their price target on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Fabrinet currently has a consensus rating of “Hold” and a consensus target price of $252.14.

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.