FNY Investment Advisers LLC acquired a new position in Fabrinet (NYSE:FN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,750 shares of the technology company’s stock, valued at approximately $196,000.
Several other institutional investors have also bought and sold shares of FN. BlackRock Inc. raised its stake in shares of Fabrinet by 2.7% during the 4th quarter. BlackRock Inc. now owns 5,366,878 shares of the technology company’s stock valued at $275,376,000 after buying an additional 139,336 shares during the last quarter. FMR LLC increased its stake in shares of Fabrinet by 79.2% in the 4th quarter. FMR LLC now owns 2,740,360 shares of the technology company’s stock valued at $140,608,000 after purchasing an additional 1,211,028 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Fabrinet by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,183,069 shares of the technology company’s stock valued at $100,988,000 after purchasing an additional 33,413 shares in the last quarter. Vanguard Group Inc increased its stake in shares of Fabrinet by 1.6% in the 3rd quarter. Vanguard Group Inc now owns 2,183,069 shares of the technology company’s stock valued at $100,988,000 after purchasing an additional 33,413 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Fabrinet by 7.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,169,366 shares of the technology company’s stock valued at $54,095,000 after purchasing an additional 77,284 shares in the last quarter. 96.51% of the stock is owned by hedge funds and other institutional investors.
FN has been the subject of several recent analyst reports. Needham & Company LLC lifted their price target on Fabrinet from $62.00 to $68.00 and gave the company a “buy” rating in a research note on Monday, May 6th. ValuEngine upgraded Fabrinet from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. Zacks Investment Research upgraded Fabrinet from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Friday, January 11th. Finally, Piper Jaffray Companies lifted their price objective on Fabrinet from $63.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $55.17.
Fabrinet (NYSE:FN) last issued its earnings results on Monday, May 6th. The technology company reported $0.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.16. Fabrinet had a return on equity of 15.60% and a net margin of 7.27%. The business had revenue of $398.95 million for the quarter, compared to analysts’ expectations of $389.60 million. During the same period in the previous year, the firm posted $0.71 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. As a group, research analysts expect that Fabrinet will post 3.23 EPS for the current fiscal year.
In other Fabrinet news, Director Thomas F. Kelly sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $54.79, for a total value of $164,370.00. Following the sale, the director now owns 41,323 shares of the company’s stock, valued at $2,264,087.17. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David T. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $60.02, for a total value of $1,800,600.00. Following the completion of the sale, the director now directly owns 73,748 shares in the company, valued at approximately $4,426,354.96. The disclosure for this sale can be found here. Insiders sold 132,518 shares of company stock worth $7,506,054 over the last quarter. 1.90% of the stock is currently owned by insiders.
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.
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