12,626 Shares in Fabrinet (FN) Acquired by Crossmark Global Holdings Inc.

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.

Fabrinet announced that its Board of Directors has authorized a stock repurchase plan on Monday, August 21st that authorizes the company to repurchase $30.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 21% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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 Profile

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.

Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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