Fabrinet (FN) Position Boosted by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. boosted its holdings in shares of Fabrinet (NYSE:FN) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 273,274 shares of the technology company’s stock after acquiring an additional 17,804 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.74% of Fabrinet worth $10,082,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of FN. Systematic Financial Management LP acquired a new position in shares of Fabrinet in the second quarter valued at about $1,434,000. LSV Asset Management increased its holdings in shares of Fabrinet by 2.5% in the second quarter. LSV Asset Management now owns 379,400 shares of the technology company’s stock valued at $13,996,000 after purchasing an additional 9,200 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Fabrinet in the second quarter worth about $607,000. Bank of New York Mellon Corp boosted its stake in shares of Fabrinet by 52.5% in the second quarter. Bank of New York Mellon Corp now owns 1,092,082 shares of the technology company’s stock worth $40,288,000 after buying an additional 375,901 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Fabrinet by 19.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 17,850 shares of the technology company’s stock worth $658,000 after buying an additional 2,910 shares during the last quarter. Institutional investors own 99.53% of the company’s stock.

NYSE:FN opened at $45.52 on Monday. Fabrinet has a one year low of $24.02 and a one year high of $48.97. The company has a quick ratio of 2.21, a current ratio of 3.16 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.66 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.12 and a beta of 0.64.

Fabrinet (NYSE:FN) last posted its quarterly earnings results on Monday, August 20th. The technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.75 by $0.06. Fabrinet had a return on equity of 12.68% and a net margin of 6.14%. The firm had revenue of $345.30 million during the quarter, compared to analysts’ expectations of $338.12 million. During the same quarter last year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was down 6.8% on a year-over-year basis. equities research analysts anticipate that Fabrinet will post 3.12 earnings per share for the current year.

FN has been the topic of a number of recent research reports. Needham & Company LLC downgraded Fabrinet from a “strong-buy” rating to a “buy” rating and upped their target price for the stock from $45.00 to $55.00 in a research note on Tuesday, August 21st. They noted that the move was a valuation call. B. Riley increased their price target on Fabrinet from $40.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. Zacks Investment Research upgraded Fabrinet from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Friday, August 17th. ValuEngine downgraded Fabrinet from a “hold” rating to a “sell” rating in a research report on Saturday, June 2nd. Finally, Northland Securities downgraded Fabrinet from an “outperform” rating to a “market perform” rating and set a $33.00 target price on the stock. in a research report on Wednesday, May 30th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $45.86.

In other Fabrinet news, CFO Toh-Seng Ng sold 20,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $47.77, for a total transaction of $955,400.00. Following the completion of the sale, the chief financial officer now owns 177,340 shares of the company’s stock, valued at $8,471,531.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David T. Mitchell sold 40,000 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $36.51, for a total value of $1,460,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,000 shares of company stock valued at $8,956,150. Insiders own 3.30% of the company’s stock.

Fabrinet Company 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 optical and electro-mechanical capabilities in the manufacturing process, including process design and engineering, supply chain management, manufacturing, printed circuit board assembly, packaging, integration, final assembly, and test.

Read More: Earnings Per Share (EPS) Explained

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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