Aurora Investment Counsel Buys New Shares in Fabrinet (NYSE:FN)

Aurora Investment Counsel purchased a new stake in Fabrinet (NYSE:FN - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,020 shares of the technology company's stock, valued at approximately $2,769,000. Fabrinet accounts for about 1.5% of Aurora Investment Counsel's investment portfolio, making the stock its 7th largest holding.

Other institutional investors also recently modified their holdings of the company. Berbice Capital Management LLC purchased a new position in Fabrinet during the 1st quarter valued at about $30,000. Wayfinding Financial LLC bought a new position in shares of Fabrinet in the first quarter valued at approximately $30,000. Private Trust Co. NA boosted its position in shares of Fabrinet by 44.3% in the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after acquiring an additional 51 shares during the period. Versant Capital Management Inc grew its stake in Fabrinet by 353.7% during the first quarter. Versant Capital Management Inc now owns 186 shares of the technology company's stock valued at $37,000 after acquiring an additional 145 shares in the last quarter. Finally, Huntington National Bank increased its holdings in Fabrinet by 66.7% during the 4th quarter. Huntington National Bank now owns 230 shares of the technology company's stock worth $51,000 after acquiring an additional 92 shares during the period. 97.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Fabrinet in a research note on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a report on Tuesday, May 6th. B. Riley upgraded Fabrinet from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $178.00 to $176.00 in a research report on Friday, April 4th. Rosenblatt Securities boosted their target price on Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Barclays set a $234.00 target price on Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Fabrinet presently has a consensus rating of "Hold" and a consensus price target of $247.50.

Insider Activity

In other news, Director Rollance E. Olson sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $223.98, for a total value of $559,950.00. Following the completion of the transaction, the director directly owned 23,201 shares in the company, valued at approximately $5,196,559.98. This represents a 9.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total value of $4,482,000.00. Following the transaction, the chief operating officer directly owned 18,068 shares in the company, valued at approximately $4,336,320. This represents a 50.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.38% of the company's stock.

Fabrinet Trading Up 1.5%

Shares of NYSE:FN traded up $4.27 during trading on Monday, reaching $295.71. The company had a trading volume of 447,608 shares, compared to its average volume of 739,104. The company has a fifty day moving average of $250.27 and a two-hundred day moving average of $224.79. The stock has a market capitalization of $10.60 billion, a P/E ratio of 32.93 and a beta of 1.04. Fabrinet has a 12 month low of $148.55 and a 12 month high of $300.29.

Fabrinet (NYSE:FN - Get Free Report) last announced its earnings results on Monday, May 5th. The technology company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.47 by $0.05. The company had revenue of $871.80 million during the quarter, compared to analyst estimates of $857.12 million. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The firm's quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.39 earnings per share. As a group, equities research analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

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 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.