Henry James International Management Inc. Sells 59 Shares of Fabrinet (NYSE:FN)

Henry James International Management Inc. lowered its stake in shares of Fabrinet (NYSE:FN) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,399 shares of the technology company’s stock after selling 59 shares during the quarter. Henry James International Management Inc.’s holdings in Fabrinet were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in Fabrinet during the third quarter valued at about $567,000. Pitcairn Co. acquired a new stake in Fabrinet in the first quarter worth about $544,000. Seven Eight Capital LP acquired a new stake in Fabrinet in the first quarter worth about $1,588,000. DekaBank Deutsche Girozentrale boosted its holdings in Fabrinet by 27.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 79,088 shares of the technology company’s stock worth $15,036,000 after acquiring an additional 17,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Fabrinet by 19.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 67,823 shares of the technology company’s stock worth $12,820,000 after acquiring an additional 11,035 shares in the last quarter. Institutional investors own 97.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. B. Riley raised their price target on Fabrinet from $171.00 to $196.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. raised their price target on Fabrinet from $240.00 to $285.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Rosenblatt Securities raised their price target on Fabrinet from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Finally, Needham & Company LLC raised their price target on Fabrinet from $270.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.50.

Insider Activity at Fabrinet

In related news, CFO Csaba Sverha sold 9,288 shares of Fabrinet stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.08, for a total transaction of $2,508,503.04. Following the completion of the transaction, the chief financial officer now directly owns 19,768 shares in the company, valued at approximately $5,338,941.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Seamus Grady sold 26,650 shares of Fabrinet stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $270.00, for a total transaction of $7,195,500.00. Following the completion of the transaction, the chief executive officer now directly owns 37,643 shares in the company, valued at approximately $10,163,610. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Csaba Sverha sold 9,288 shares of Fabrinet stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.08, for a total value of $2,508,503.04. Following the transaction, the chief financial officer now owns 19,768 shares of the company’s stock, valued at approximately $5,338,941.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,728 shares of company stock worth $11,645,062. 0.38% of the stock is owned by corporate insiders.

Fabrinet Stock Up 0.6 %

Shares of NYSE:FN opened at $242.53 on Monday. Fabrinet has a 52-week low of $152.80 and a 52-week high of $278.38. The stock has a market cap of $8.80 billion, a price-to-earnings ratio of 29.94 and a beta of 0.95. The business has a 50-day moving average price of $239.06 and a 200-day moving average price of $230.70.

Fabrinet (NYSE:FN) last announced its quarterly earnings data on Monday, August 19th. The technology company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.35. Fabrinet had a return on equity of 18.10% and a net margin of 10.27%. The firm had revenue of $753.26 million during the quarter, compared to analysts’ expectations of $732.63 million. During the same period last year, the business posted $1.68 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts anticipate that Fabrinet will post 9.11 EPS for the current fiscal year.

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.