Congress Wealth Management LLC DE increased its stake in Fabrinet (NYSE:FN – Get Rating) by 12.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,796 shares of the technology company’s stock after purchasing an additional 1,175 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Fabrinet were worth $1,282,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in shares of Fabrinet by 652.6% in the 3rd quarter. Federated Hermes Inc. now owns 429 shares of the technology company’s stock worth $41,000 after purchasing an additional 372 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of Fabrinet in the 4th quarter worth approximately $51,000. EverSource Wealth Advisors LLC raised its holdings in shares of Fabrinet by 115.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 440 shares of the technology company’s stock worth $56,000 after purchasing an additional 236 shares during the period. Point72 Hong Kong Ltd bought a new stake in Fabrinet during the 2nd quarter valued at $56,000. Finally, Quantbot Technologies LP bought a new stake in Fabrinet during the 2nd quarter valued at $56,000. Institutional investors own 98.93% of the company’s stock.
Insider Buying and Selling
In related news, Director Homa Bahrami sold 1,400 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $98.05, for a total value of $137,270.00. Following the completion of the transaction, the director now directly owns 32,739 shares in the company, valued at $3,210,058.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is owned by company insiders.
Analyst Ratings Changes
Fabrinet Price Performance
FN opened at $124.28 on Tuesday. The company has a fifty day moving average price of $106.25 and a 200-day moving average price of $117.02. The firm has a market capitalization of $4.51 billion, a P/E ratio of 18.89 and a beta of 1.13. Fabrinet has a one year low of $77.67 and a one year high of $140.18.
Fabrinet (NYSE:FN – Get Rating) last released its quarterly earnings results on Monday, May 8th. The technology company reported $1.76 EPS for the quarter, beating analysts’ consensus estimates of $1.71 by $0.05. Fabrinet had a net margin of 9.44% and a return on equity of 18.55%. The firm had revenue of $665.28 million during the quarter, compared to analyst estimates of $650.88 million. On average, analysts expect that Fabrinet will post 6.85 earnings per share for the current year.
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.
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