Paloma Partners Management Co bought a new stake in shares of Fabrinet (NYSE:FN) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,306 shares of the technology company’s stock, valued at approximately $559,000.

A number of other institutional investors have also added to or reduced their stakes in FN. BlackRock Inc. boosted its stake in shares of Fabrinet by 60,498.5% in the first quarter. BlackRock Inc. now owns 4,311,581 shares of the technology company’s stock valued at $181,218,000 after buying an additional 4,304,466 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Fabrinet by 6.9% in the first quarter. Vanguard Group Inc. now owns 1,893,564 shares of the technology company’s stock valued at $79,586,000 after buying an additional 121,411 shares during the last quarter. Congress Asset Management Co. MA purchased a new stake in shares of Fabrinet during the first quarter valued at approximately $58,716,000. Royce & Associates LP boosted its stake in shares of Fabrinet by 372.7% in the first quarter. Royce & Associates LP now owns 997,915 shares of the technology company’s stock valued at $41,942,000 after buying an additional 786,799 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Fabrinet by 8.4% in the first quarter. State Street Corp now owns 812,262 shares of the technology company’s stock valued at $34,135,000 after buying an additional 63,277 shares during the last quarter. 94.22% of the stock is currently owned by institutional investors.

Shares of Fabrinet (NYSE FN) opened at 44.98 on Monday. Fabrinet has a 12 month low of $31.97 and a 12 month high of $49.63. The firm’s 50-day moving average price is $37.95 and its 200-day moving average price is $39.72. The company has a market cap of $1.68 billion, a PE ratio of 18.91 and a beta of 1.07.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, May 8th. The technology company reported $0.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.17. The company had revenue of $366.80 million during the quarter, compared to the consensus estimate of $362.07 million. Fabrinet had a net margin of 6.74% and a return on equity of 14.95%. The firm’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 earnings per share. Equities analysts predict that Fabrinet will post $3.36 EPS for the current fiscal year.

WARNING: “Paloma Partners Management Co Takes Position in Fabrinet (FN)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another website, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The correct version of this article can be read at https://www.thecerbatgem.com/2017/07/17/paloma-partners-management-co-takes-position-in-fabrinet-fn.html.

Several equities research analysts recently commented on the company. B. Riley reissued a “buy” rating and issued a $44.75 price target on shares of Fabrinet in a research note on Thursday, May 4th. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price target on shares of Fabrinet in a research note on Friday. BidaskClub raised Fabrinet from a “sell” rating to a “hold” rating in a research note on Sunday. J P Morgan Chase & Co set a $57.00 price target on Fabrinet and gave the company a “buy” rating in a research note on Thursday, June 1st. Finally, Needham & Company LLC boosted their price target on Fabrinet from $56.00 to $60.00 and gave the company a “strong-buy” rating in a research note on Monday, June 26th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $52.46.

In other news, CEO David T. Mitchell sold 75,000 shares of Fabrinet stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $34.73, for a total transaction of $2,604,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David T. Mitchell sold 52,500 shares of Fabrinet stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $41.22, for a total value of $2,164,050.00. Following the transaction, the chief executive officer now owns 42,631 shares of the company’s stock, valued at $1,757,249.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,000 shares of company stock valued at $6,712,350. Corporate insiders own 4.30% of the company’s stock.

Fabrinet Company 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)

Receive News & Stock Ratings for Fabrinet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fabrinet and related stocks with our FREE daily email newsletter.