Crossmark Global Holdings Inc. bought a new position in shares of Fabrinet (NYSE:FN) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,626 shares of the technology company’s stock, valued at approximately $468,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BT Investment Management Ltd bought a new stake in shares of Fabrinet during the 2nd quarter worth $38,212,000. FMR LLC lifted its position in shares of Fabrinet by 31.8% during the 2nd quarter. FMR LLC now owns 2,772,212 shares of the technology company’s stock worth $118,262,000 after buying an additional 669,201 shares during the last quarter. Legion Partners Asset Management LLC bought a new stake in shares of Fabrinet during the 2nd quarter worth $21,365,000. Royce & Associates LP lifted its position in shares of Fabrinet by 39.9% during the 2nd quarter. Royce & Associates LP now owns 1,396,450 shares of the technology company’s stock worth $59,573,000 after buying an additional 398,535 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Fabrinet by 193.4% during the 2nd quarter. Royal Bank of Canada now owns 509,613 shares of the technology company’s stock worth $21,740,000 after buying an additional 335,929 shares during the last quarter. 96.71% of the stock is currently owned by institutional investors.
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Fabrinet (NYSE FN) opened at $31.96 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.70 and a quick ratio of 1.85. The company has a market capitalization of $1,209.23, a PE ratio of 12.82, a price-to-earnings-growth ratio of 1.21 and a beta of 1.03. Fabrinet has a 1 year low of $28.60 and a 1 year high of $49.63.
In other news, COO Harpal Gill sold 50,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $39.07, for a total value of $1,953,500.00. Following the completion of the sale, the chief operating officer now owns 194,193 shares of the company’s stock, valued at $7,587,120.51. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Thomas F. Kelly sold 30,000 shares of the stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $38.24, for a total value of $1,147,200.00. Following the completion of the sale, the director now directly owns 64,635 shares of the company’s stock, valued at approximately $2,471,642.40. The disclosure for this sale can be found here. Insiders sold 257,500 shares of company stock valued at $9,535,850 over the last quarter. Corporate insiders own 3.30% of the company’s stock.
FN has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Fabrinet in a research report on Tuesday, September 5th. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded Fabrinet from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Stifel Nicolaus restated a “buy” rating on shares of Fabrinet in a research report on Tuesday, August 22nd. Finally, BidaskClub downgraded Fabrinet from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Fabrinet has an average rating of “Hold” and a consensus target price of $46.42.
Fabrinet provides optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers (OEMs) of products, such as optical communication components, modules and sub-systems, industrial lasers, medical devices and sensors. The Company offers a range of optical and electro-mechanical capabilities across the manufacturing process, including process design and engineering, supply chain management, manufacturing, complex printed circuit board assembly, advanced packaging, integration, final assembly and test.
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