Yorktown Management & Research Co Inc Acquires 1,764 Shares of Fabrinet (NYSE:FN)

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Yorktown Management & Research Co Inc boosted its holdings in shares of Fabrinet (NYSE:FN) by 9.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the technology company’s stock after acquiring an additional 1,764 shares during the period. Yorktown Management & Research Co Inc owned about 0.05% of Fabrinet worth $993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Dalton Greiner Hartman Maher & Co. bought a new stake in shares of Fabrinet in the 2nd quarter valued at about $4,848,000. Harvest Capital Management Inc bought a new stake in shares of Fabrinet in the 1st quarter valued at about $262,000. SG Americas Securities LLC boosted its holdings in shares of Fabrinet by 61.7% in the 1st quarter. SG Americas Securities LLC now owns 21,614 shares of the technology company’s stock valued at $1,132,000 after buying an additional 8,244 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new stake in shares of Fabrinet in the 1st quarter valued at about $8,955,000. Finally, BlackRock Inc. boosted its holdings in shares of Fabrinet by 1.6% in the 1st quarter. BlackRock Inc. now owns 5,452,511 shares of the technology company’s stock valued at $285,494,000 after buying an additional 85,633 shares in the last quarter. Institutional investors own 93.81% of the company’s stock.

A number of analysts have recently weighed in on the stock. Northland Securities restated a “hold” rating and issued a $47.50 price target on shares of Fabrinet in a report on Monday, July 1st. Needham & Company LLC raised their price target on shares of Fabrinet from $62.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 9th. ValuEngine cut shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Saturday, May 18th. Zacks Investment Research cut shares of Fabrinet from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Fabrinet in a report on Monday, July 29th. They issued a “neutral” rating and a $57.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Fabrinet presently has an average rating of “Hold” and a consensus price target of $58.93.

Shares of Fabrinet stock traded up $2.72 during midday trading on Friday, hitting $55.57. The company had a trading volume of 312,600 shares, compared to its average volume of 279,902. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 18.65, a PEG ratio of 1.13 and a beta of 1.00. The company has a quick ratio of 2.30, a current ratio of 3.23 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $52.38 and a 200 day simple moving average of $53.27. Fabrinet has a 12-month low of $40.94 and a 12-month high of $62.31.

In related news, Director David T. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $52.14, for a total value of $1,564,200.00. Following the completion of the transaction, the director now directly owns 73,748 shares of the company’s stock, valued at approximately $3,845,220.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 90,000 shares of company stock valued at $4,466,100 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Fabrinet 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.

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Institutional Ownership by Quarter for Fabrinet (NYSE:FN)

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