Fabrinet $FN Position Boosted by Calamos Advisors LLC

Calamos Advisors LLC increased its position in shares of Fabrinet (NYSE:FN) by 1,469.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 51,800 shares of the technology company’s stock after buying an additional 48,500 shares during the quarter. Calamos Advisors LLC’s holdings in Fabrinet were worth $21,977,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Continuum Advisory LLC acquired a new stake in Fabrinet during the second quarter valued at $25,000. Byrne Asset Management LLC purchased a new position in Fabrinet in the third quarter valued at $27,000. Cassaday & Co Wealth Management LLC acquired a new position in shares of Fabrinet in the first quarter worth about $31,000. Root Financial Partners LLC acquired a new position in shares of Fabrinet in the third quarter worth about $40,000. Finally, Reyes Financial Architecture Inc. acquired a new position in shares of Fabrinet in the third quarter worth about $52,000. 97.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Barclays lowered their target price on shares of Fabrinet from $739.00 to $496.00 and set an “overweight” rating on the stock in a research note on Wednesday. B. Riley Financial cut their price target on Fabrinet from $431.00 to $385.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. Zacks Research upgraded Fabrinet from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $500.00 price target on shares of Fabrinet in a report on Tuesday, November 3rd. Finally, Rosenblatt Securities lowered their price target on Fabrinet from $750.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $548.88.

Fabrinet Price Performance

Shares of Fabrinet stock opened at $328.22 on Friday. The stock has a market capitalization of $11.72 billion, a P/E ratio of 24.77 and a beta of 1.35. The business has a 50 day simple moving average of $394.16 and a two-hundred day simple moving average of $518.32. Fabrinet has a 12 month low of $286.07 and a 12 month high of $748.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.04 and a quick ratio of 1.52.

Fabrinet (NYSE:FN) last issued its quarterly earnings results on Monday, November 2nd. The technology company reported $4.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.13. Fabrinet had a return on equity of 22.32% and a net margin of 9.35%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.42 billion. During the same period in the previous year, the company posted $2.92 earnings per share. The business’s revenue was up 50.7% on a year-over-year basis. As a group, analysts predict that Fabrinet will post 18.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Fabrinet news, EVP Edward Archer sold 2,500 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $385.91, for a total value of $964,775.00. Following the transaction, the executive vice president owned 7,007 shares in the company, valued at approximately $2,704,071.37. This trade represents a 26.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Fabrinet Company Profile

Fabrinet (NYSE: FN) is a provider of advanced optical packaging and precision manufacturing services. The company works with original equipment manufacturers and other technology companies to produce complex products that require specialized engineering and manufacturing capabilities.

Its services include product design and engineering support, prototyping, supply-chain management, and manufacturing. Fabrinet’s products serve markets including optical communications, industrial lasers, automotive technology, and medical devices.

Founded in 1999, Fabrinet serves customers around the world through manufacturing operations in multiple countries.