Vontobel Holding Ltd. Buys 1,413 Shares of Fabrinet $FN

by · The Markets Daily

Vontobel Holding Ltd. boosted its stake in shares of Fabrinet (NYSE:FN – Free Report) by 184.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,178 shares of the technology company’s stock after purchasing an additional 1,413 shares during the quarter. Vontobel Holding Ltd.’s holdings in Fabrinet were worth $924,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Walser Wealth Management Company A Ltd Liability Co raised its position in shares of Fabrinet by 53.9% in the third quarter. Walser Wealth Management Company A Ltd Liability Co now owns 1,561 shares of the technology company’s stock valued at $662,000 after purchasing an additional 547 shares during the period. B.A. Schrock Wealth Management Inc. bought a new stake in shares of Fabrinet during the 3rd quarter worth $1,305,000. Avior Wealth Management LLC boosted its holdings in shares of Fabrinet by 77.9% during the 3rd quarter. Avior Wealth Management LLC now owns 790 shares of the technology company’s stock worth $335,000 after buying an additional 346 shares during the period. Wedmont Private Capital bought a new stake in shares of Fabrinet during the 3rd quarter worth $331,000. Finally, Byrne Asset Management LLC acquired a new position in Fabrinet in the 3rd quarter valued at $27,000. Institutional investors own 97.38% of the company’s stock.

Insiders Place Their Bets

In other Fabrinet news, EVP Edward Archer sold 2,500 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $385.91, for a total value of $964,775.00. Following the completion of the sale, the executive vice president directly owned 7,007 shares of the company’s stock, valued at $2,704,071.37. This represents a 26.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by company insiders.

Fabrinet Trading Down 0.2%

FN opened at $362.78 on Tuesday. Fabrinet has a 1-year low of $359.39 and a 1-year high of $748.89. The stock has a market capitalization of $13.00 billion, a price-to-earnings ratio of 27.80 and a beta of 1.23. The business has a 50 day moving average of $435.89 and a 200-day moving average of $537.90.

Fabrinet (NYSE:FN – Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The technology company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.81 by $0.29. Fabrinet had a net margin of 10.19% and a return on equity of 21.23%. The business had revenue of $1.32 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter last year, the company posted $2.65 earnings per share. Fabrinet’s quarterly revenue was up 44.6% on a year-over-year basis. Equities analysts predict that Fabrinet will post 17.50 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on FN shares. Needham & Company LLC reiterated a “buy” rating and issued a $650.00 target price on shares of Fabrinet in a report on Tuesday, August 18th. Wall Street Zen lowered shares of Fabrinet from a “buy” rating to a “hold” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. upped their price target on shares of Fabrinet from $680.00 to $695.00 and gave the company a “neutral” rating in a report on Tuesday, August 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $750.00 price target on shares of Fabrinet in a research report on Tuesday, August 18th. Finally, 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 research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Fabrinet currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.88.

View Our Latest Stock Analysis on FN

Fabrinet Company Profile

(Free Report)

Fabrinet (NYSE: FN) is a provider of outsourced manufacturing services for complex optical, electronic and electromechanical products. The company works with original equipment manufacturers and other technology companies to design, manufacture, assemble, test and distribute products used in optical communications, industrial lasers, automotive applications, medical devices and other advanced technology markets.

Its capabilities include precision optical packaging, optical and electronic assembly, printed circuit board assembly, electromechanical manufacturing, engineering support, supply-chain management and testing.

Further Reading

Want to see what other hedge funds are holding FN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fabrinet (NYSE:FN – Free Report).