Deutsche Bank AG Grows Position in Fabrinet (NYSE:FN)

Deutsche Bank AG lifted its position in shares of Fabrinet (NYSE:FN - Free Report) by 35.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,277 shares of the technology company's stock after buying an additional 11,873 shares during the quarter. Deutsche Bank AG owned approximately 0.12% of Fabrinet worth $9,956,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank boosted its position in Fabrinet by 66.7% during the fourth quarter. Huntington National Bank now owns 230 shares of the technology company's stock valued at $51,000 after purchasing an additional 92 shares in the last quarter. Quarry LP grew its position in shares of Fabrinet by 315.8% in the 4th quarter. Quarry LP now owns 237 shares of the technology company's stock worth $52,000 after buying an additional 180 shares during the last quarter. IFP Advisors Inc grew its position in shares of Fabrinet by 576.2% in the 4th quarter. IFP Advisors Inc now owns 284 shares of the technology company's stock worth $63,000 after buying an additional 242 shares during the last quarter. Assetmark Inc. raised its stake in shares of Fabrinet by 12.0% during the 4th quarter. Assetmark Inc. now owns 484 shares of the technology company's stock worth $106,000 after acquiring an additional 52 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. lifted its position in Fabrinet by 17.2% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 565 shares of the technology company's stock valued at $125,000 after acquiring an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 97.38% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FN. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price objective on shares of Fabrinet in a report on Tuesday, May 6th. Fox Advisors began coverage on Fabrinet in a research note on Tuesday, February 18th. They issued an "overweight" rating and a $270.00 price target for the company. Rosenblatt Securities boosted their price target on Fabrinet from $230.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. increased their price objective on shares of Fabrinet from $220.00 to $235.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Finally, B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $178.00 to $176.00 in a research note on Friday, April 4th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $239.29.

Fabrinet Stock Performance

Shares of FN traded up $3.00 during trading hours on Thursday, hitting $229.97. The stock had a trading volume of 53,579 shares, compared to its average volume of 625,692. The firm has a 50-day moving average price of $203.75 and a 200 day moving average price of $218.96. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $281.79. The firm has a market capitalization of $8.24 billion, a price-to-earnings ratio of 25.66 and a beta of 0.95.

Fabrinet (NYSE:FN - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.47 by $0.05. Fabrinet had a net margin of 10.44% and a return on equity of 18.48%. The business had revenue of $871.80 million during the quarter, compared to the consensus estimate of $857.12 million. During the same quarter in the prior year, the firm posted $2.39 earnings per share. The company's revenue was up 19.2% compared to the same quarter last year. As a group, analysts predict that Fabrinet will post 9.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $223.98, for a total transaction of $559,950.00. Following the completion of the transaction, the director now directly owns 23,201 shares in the company, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.38% of the stock is currently owned by company 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 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.