MQS Management LLC Buys Shares of 2,745 Fabrinet (NYSE:FN)

MQS Management LLC purchased a new position in shares of Fabrinet (NYSE:FN - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,745 shares of the technology company's stock, valued at approximately $326,000.

Several other large investors also recently made changes to their positions in the stock. Fifth Third Bancorp lifted its position in shares of Fabrinet by 98.0% during the 1st quarter. Fifth Third Bancorp now owns 303 shares of the technology company's stock worth $36,000 after purchasing an additional 150 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of Fabrinet by 652.6% during 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 last quarter. 1832 Asset Management L.P. acquired a new position in shares of Fabrinet during the 4th quarter worth about $51,000. Benjamin Edwards Inc. lifted its position in shares of Fabrinet by 153.8% during the 1st quarter. Benjamin Edwards Inc. now owns 439 shares of the technology company's stock worth $52,000 after purchasing an additional 266 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Fabrinet by 115.7% during 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 last quarter. Institutional investors own 98.93% of the company's stock.

NYSE FN opened at $121.76 on Friday. The firm has a market cap of $4.42 billion, a PE ratio of 18.50 and a beta of 1.14. The stock's 50 day simple moving average is $124.48 and its 200 day simple moving average is $116.70. Fabrinet has a one year low of $90.19 and a one year high of $140.18.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings results on Monday, May 8th. The technology company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.05. The business had revenue of $665.28 million for the quarter, compared to analyst estimates of $650.88 million. Fabrinet had a return on equity of 18.55% and a net margin of 9.44%. As a group, equities analysts expect that Fabrinet will post 6.85 earnings per share for the current year.

In related news, Director Homa Bahrami sold 1,400 shares of Fabrinet stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $98.05, for a total transaction of $137,270.00. Following the completion of the transaction, the director now owns 32,739 shares in the company, valued at $3,210,058.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.50% of the company's stock.

Several research firms have commented on FN. StockNews.com began coverage on Fabrinet in a report on Thursday, May 18th. They issued a "hold" rating for the company. JPMorgan Chase & Co. cut their price target on Fabrinet from $161.00 to $130.00 and set an "overweight" rating for the company in a report on Wednesday, April 19th. Needham & Company LLC upped their price target on Fabrinet from $120.00 to $150.00 in a report on Monday, June 12th. Northland Securities cut their price target on Fabrinet from $155.00 to $135.00 in a report on Tuesday, May 9th. Finally, Lake Street Capital assumed coverage on Fabrinet in a report on Friday, April 21st. They issued a "buy" rating and a $130.00 price target for the company. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Fabrinet has a consensus rating of "Moderate Buy" and a consensus target price of $122.57.

View Our Latest Analysis on 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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