WCM Investment Management LLC Buys 12,289 Shares of Fabrinet (NYSE:FN)

WCM Investment Management LLC raised its holdings in Fabrinet (NYSE:FN) by 31.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 51,723 shares of the technology company’s stock after purchasing an additional 12,289 shares during the quarter. WCM Investment Management LLC’s holdings in Fabrinet were worth $12,402,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Fabrinet by 0.9% in the first quarter. Vanguard Group Inc. now owns 4,348,671 shares of the technology company’s stock valued at $821,986,000 after buying an additional 38,999 shares during the period. TD Asset Management Inc grew its position in shares of Fabrinet by 216.1% in the first quarter. TD Asset Management Inc now owns 409,761 shares of the technology company’s stock valued at $77,453,000 after purchasing an additional 280,145 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Fabrinet by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 314,665 shares of the technology company’s stock valued at $77,027,000 after purchasing an additional 12,409 shares during the last quarter. Epoch Investment Partners Inc. grew its position in shares of Fabrinet by 9.6% in the second quarter. Epoch Investment Partners Inc. now owns 302,006 shares of the technology company’s stock valued at $73,928,000 after purchasing an additional 26,475 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of Fabrinet by 13.4% in the first quarter. Westfield Capital Management Co. LP now owns 300,421 shares of the technology company’s stock valued at $56,786,000 after purchasing an additional 35,529 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Insider Buying and Selling

In other Fabrinet news, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $270.00, for a total value of $27,000.00. Following the sale, the chief financial officer now owns 19,347 shares of the company’s stock, valued at approximately $5,223,690. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Fabrinet news, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $220.26, for a total value of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Csaba Sverha sold 100 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $270.00, for a total value of $27,000.00. Following the completion of the sale, the chief financial officer now directly owns 19,347 shares in the company, valued at approximately $5,223,690. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,728 shares of company stock valued at $11,645,062 over the last 90 days. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FN shares. Rosenblatt Securities upped their target price on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. JPMorgan Chase & Co. upped their target price on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. B. Riley decreased their target price on Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 5th. Finally, Needham & Company LLC started coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price on the stock. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $248.17.

Fabrinet Price Performance

Shares of NYSE:FN opened at $270.93 on Tuesday. The company has a market capitalization of $9.83 billion, a P/E ratio of 32.06 and a beta of 0.95. Fabrinet has a 1 year low of $159.30 and a 1 year high of $278.38. The business’s 50 day simple moving average is $239.49 and its 200 day simple moving average is $233.66.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. The business had revenue of $804.20 million for the quarter, compared to the consensus estimate of $771.24 million. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.78 earnings per share. On average, sell-side 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.