482 Shares in Fabrinet (NYSE:FN) Acquired by Transamerica Financial Advisors Inc.

Transamerica Financial Advisors Inc. bought a new position in Fabrinet (NYSE:FN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 482 shares of the technology company’s stock, valued at approximately $114,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in shares of Fabrinet by 150.4% during the third quarter. The Manufacturers Life Insurance Company now owns 35,047 shares of the technology company’s stock valued at $8,287,000 after purchasing an additional 21,050 shares during the period. Bank of Montreal Can grew its position in Fabrinet by 61.6% in the third quarter. Bank of Montreal Can now owns 18,425 shares of the technology company’s stock valued at $4,418,000 after acquiring an additional 7,025 shares during the period. Truvestments Capital LLC boosted its stake in Fabrinet by 6.5% in the third quarter. Truvestments Capital LLC now owns 2,347 shares of the technology company’s stock worth $555,000 after purchasing an additional 143 shares in the last quarter. DRW Securities LLC acquired a new position in Fabrinet in the third quarter worth $1,628,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in Fabrinet by 197.2% in the third quarter. Harvest Fund Management Co. Ltd now owns 5,795 shares of the technology company’s stock worth $1,371,000 after purchasing an additional 3,845 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Fabrinet Trading Down 4.1 %

Shares of FN opened at $225.85 on Thursday. Fabrinet has a 1 year low of $159.30 and a 1 year high of $278.38. The stock has a market cap of $8.19 billion, a P/E ratio of 26.73 and a beta of 0.95. The stock’s 50-day moving average price is $244.11 and its two-hundred day moving average price is $237.99.

Fabrinet (NYSE:FN) last issued its 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. Fabrinet had a return on equity of 18.08% and a net margin of 10.28%. The firm had revenue of $804.20 million for the quarter, compared to analysts’ expectations of $771.24 million. During the same quarter last year, the business earned $1.78 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts forecast that Fabrinet will post 9.1 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Edward T. Archer sold 8,690 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $220.26, for a total transaction of $1,914,059.40. Following the sale, the executive vice president now owns 8,333 shares of the company’s stock, valued at $1,835,426.58. This trade represents a 51.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.38% of the company’s stock.

About Fabrinet

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.