Fabrinet $FN Shares Sold by Triumph Capital Management

Triumph Capital Management lowered its stake in shares of Fabrinet (NYSE:FN) by 93.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 141 shares of the technology company’s stock after selling 2,021 shares during the period. Triumph Capital Management’s holdings in Fabrinet were worth $60,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Continuum Advisory LLC purchased a new stake in shares of Fabrinet during the 2nd quarter valued at about $25,000. Byrne Asset Management LLC purchased a new position in shares of Fabrinet during the third quarter valued at approximately $27,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Fabrinet during the first quarter valued at approximately $31,000. Sunbelt Securities Inc. purchased a new position in shares of Fabrinet during the first quarter valued at approximately $66,000. Finally, Root Financial Partners LLC lifted its position in Fabrinet by 29.2% during the first quarter. Root Financial Partners LLC now owns 146 shares of the technology company’s stock valued at $76,000 after purchasing an additional 33 shares during the period. Hedge funds and other institutional investors own 97.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and issued a $650.00 target price on shares of Fabrinet in a report on Tuesday, August 18th. Weiss Ratings lowered shares of Fabrinet from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, September 9th. JPMorgan Chase & Co. boosted their target price on shares of Fabrinet from $680.00 to $695.00 and gave the company a “neutral” rating in a research note on Tuesday, August 18th. B. Riley Financial lowered their price target on Fabrinet from $598.00 to $431.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, Zacks Research upgraded Fabrinet from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Fabrinet presently has an average rating of “Moderate Buy” and an average target price of $646.88.

Insider Activity at Fabrinet

In other news, EVP Edward Archer sold 2,500 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $385.91, for a total value of $964,775.00. Following the transaction, the executive vice president owned 7,007 shares of the company’s stock, valued at $2,704,071.37. This trade represents a 26.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by company insiders.

Fabrinet Price Performance

Shares of NYSE:FN traded down $21.00 during midday trading on Friday, hitting $364.20. The company had a trading volume of 1,044,213 shares, compared to its average volume of 904,416. The company has a market cap of $13.05 billion, a price-to-earnings ratio of 27.91 and a beta of 1.23. Fabrinet has a 12-month low of $362.64 and a 12-month high of $748.89. The company has a fifty day moving average of $439.18 and a two-hundred day moving average of $538.71.

Fabrinet (NYSE:FN) last released its earnings results on Tuesday, August 18th. The technology company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.81 by $0.29. Fabrinet had a return on equity of 21.23% and a net margin of 10.19%. The company had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business earned $2.65 earnings per share. Fabrinet’s quarterly revenue was up 44.6% compared to the same quarter last year. Research analysts expect that Fabrinet will post 17.50 earnings per share for the current fiscal year.

Fabrinet Company Profile

Fabrinet (NYSE: FN) provides advanced manufacturing services for companies that develop optical, electro-optical, and precision-engineered products. The company supports customers from product design and engineering through manufacturing, assembly, testing, and supply-chain management.

Its products and manufacturing capabilities include optical communications components, modules, and assemblies; precision optical and optoelectronic systems; industrial lasers; and other complex products used in communications, industrial, automotive, medical, and other technology markets.