Mutual of America Capital Management LLC Has $10.45 Million Stock Position in Fabrinet (NYSE:FN)

Mutual of America Capital Management LLC increased its stake in shares of Fabrinet (NYSE:FN) by 43.4% in the third quarter, Holdings Channel reports. The firm owned 44,175 shares of the technology company’s stock after buying an additional 13,361 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Fabrinet were worth $10,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FN. Opal Wealth Advisors LLC bought a new position in Fabrinet during the second quarter worth about $28,000. Huntington National Bank boosted its stake in Fabrinet by 70.4% during the 3rd quarter. Huntington National Bank now owns 138 shares of the technology company’s stock worth $33,000 after acquiring an additional 57 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Fabrinet during the second quarter valued at approximately $35,000. Kimelman & Baird LLC bought a new stake in Fabrinet in the second quarter valued at approximately $49,000. Finally, NBC Securities Inc. raised its holdings in Fabrinet by 732.0% in the third quarter. NBC Securities Inc. now owns 208 shares of the technology company’s stock worth $49,000 after purchasing an additional 183 shares during the period. Institutional investors own 97.38% of the company’s stock.

Insider Activity at Fabrinet

In other news, EVP Edward T. Archer sold 8,690 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at approximately $1,835,426.58. This represents a 51.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Csaba Sverha sold 9,288 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 19,768 shares in the company, valued at approximately $5,338,941.44. The trade was a 31.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,728 shares of company stock valued at $11,645,062. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities boosted their price target on shares of Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 20th. Barclays assumed coverage on Fabrinet in a report on Thursday. They issued an “equal weight” rating and a $292.00 price target for the company. JPMorgan Chase & Co. lifted their price objective on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. Needham & Company LLC started coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 price objective for the company. Finally, B. Riley dropped their target price on shares of Fabrinet from $196.00 to $194.00 and set a “neutral” rating on the stock in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Fabrinet has a consensus rating of “Hold” and a consensus target price of $254.43.

Fabrinet Price Performance

FN stock opened at $234.85 on Monday. The stock has a market capitalization of $8.52 billion, a P/E ratio of 27.79 and a beta of 0.95. Fabrinet has a fifty-two week low of $159.30 and a fifty-two week high of $278.38. The business has a 50-day moving average of $242.35 and a 200-day moving average of $236.02.

Fabrinet (NYSE:FN) last released its quarterly earnings results on Monday, November 4th. The technology company reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.01. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million during the quarter, compared to the consensus estimate of $771.24 million. During the same quarter in the prior year, the firm posted $1.78 EPS. The business’s revenue was up 17.3% on a year-over-year basis. Equities analysts expect that Fabrinet will post 9.1 EPS for the current 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.