Centiva Capital LP Raises Stock Holdings in Fabrinet (NYSE:FN)

by · The Cerbat Gem

Centiva Capital LP increased its position in Fabrinet (NYSE:FN – Free Report) by 13.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,536 shares of the technology company’s stock after buying an additional 1,023 shares during the quarter. Centiva Capital LP’s holdings in Fabrinet were worth $2,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of FN. Driehaus Capital Management LLC lifted its position in Fabrinet by 183.5% in the 2nd quarter. Driehaus Capital Management LLC now owns 277,978 shares of the technology company’s stock worth $68,046,000 after buying an additional 179,943 shares during the last quarter. Clearbridge Investments LLC bought a new stake in Fabrinet in the 2nd quarter worth approximately $27,911,000. DekaBank Deutsche Girozentrale lifted its position in Fabrinet by 3,831.4% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 82,088 shares of the technology company’s stock worth $19,465,000 after buying an additional 80,000 shares during the last quarter. Rice Hall James & Associates LLC lifted its position in Fabrinet by 89.1% in the 2nd quarter. Rice Hall James & Associates LLC now owns 134,519 shares of the technology company’s stock worth $32,929,000 after buying an additional 63,398 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Fabrinet by 14.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 480,550 shares of the technology company’s stock worth $113,621,000 after buying an additional 61,491 shares during the last quarter. Institutional investors own 97.38% of the company’s stock.

Analyst Upgrades and Downgrades

FN has been the subject of a number of recent research reports. Needham & Company LLC assumed coverage on Fabrinet in a research report on Tuesday, November 5th. They issued a “buy” rating and a $280.00 target price for the company. B. Riley downgraded Fabrinet from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $194.00 to $178.00 in a research report on Wednesday, November 20th. JPMorgan Chase & Co. boosted their price objective on Fabrinet from $240.00 to $285.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Rosenblatt Securities boosted their price objective on Fabrinet from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 20th. Finally, Barclays assumed coverage on Fabrinet in a research report on Thursday, November 14th. They issued an “equal weight” rating and a $292.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $252.14.

Check Out Our Latest Research Report on FN

Insider Buying and Selling

In related news, EVP Edward T. Archer sold 8,690 shares of the company’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 directly owns 8,333 shares of the company’s stock, valued at $1,835,426.58. This represents a 51.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.38% of the stock is owned by insiders.

Fabrinet Stock Down 0.3 %

Shares of Fabrinet stock opened at $233.98 on Tuesday. The company has a market cap of $8.49 billion, a PE ratio of 27.69 and a beta of 0.92. The business has a 50 day moving average of $244.05 and a 200 day moving average of $238.06. Fabrinet has a 52 week low of $159.69 and a 52 week high of $278.38.

Fabrinet (NYSE:FN – Get Free Report) last announced its earnings results on Monday, November 4th. The technology company reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.01. The company had revenue of $804.20 million during 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 revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.78 earnings per share. On average, research analysts anticipate that Fabrinet will post 9.1 earnings per share for the current year.

About Fabrinet

(Free Report)

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.

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