14,020 Shares in Fabrinet (NYSE:FN) Bought by Aurora Investment Counsel

Aurora Investment Counsel purchased a new stake in shares of Fabrinet (NYSE:FN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 14,020 shares of the technology company's stock, valued at approximately $2,769,000. Fabrinet comprises about 1.5% of Aurora Investment Counsel's portfolio, making the stock its 7th biggest holding.

A number of other institutional investors have also bought and sold shares of FN. Vanguard Group Inc. raised its holdings in shares of Fabrinet by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 4,137,579 shares of the technology company's stock valued at $909,771,000 after purchasing an additional 113,186 shares during the period. FMR LLC grew its position in Fabrinet by 13.1% in the 4th quarter. FMR LLC now owns 2,213,887 shares of the technology company's stock worth $486,789,000 after purchasing an additional 257,164 shares in the last quarter. Wasatch Advisors LP grew its position in Fabrinet by 47.0% in the 4th quarter. Wasatch Advisors LP now owns 1,132,636 shares of the technology company's stock worth $249,044,000 after purchasing an additional 362,064 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Fabrinet by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,006,858 shares of the technology company's stock valued at $221,430,000 after acquiring an additional 20,045 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Fabrinet by 1.4% during the 4th quarter. JPMorgan Chase & Co. now owns 669,459 shares of the technology company's stock valued at $147,201,000 after acquiring an additional 9,058 shares during the period. Institutional investors own 97.38% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on FN shares. B. Riley raised shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $178.00 to $176.00 in a report on Friday, April 4th. Rosenblatt Securities increased their target price on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a research note on Tuesday, May 6th. 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. Finally, Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an "equal weight" rating in a research note on Tuesday, May 6th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $261.33.

Insider Buying and Selling at Fabrinet

In other news, Director Rollance E. Olson sold 2,500 shares of the firm'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 sale, the director owned 23,201 shares in the company, valued at approximately $5,196,559.98. This trade represents a 9.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Harpal Gill sold 18,675 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $240.00, for a total transaction of $4,482,000.00. Following the sale, the chief operating officer owned 18,068 shares in the company, valued at approximately $4,336,320. This trade represents a 50.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

Fabrinet Trading Up 4.0%

Shares of Fabrinet stock traded up $11.86 on Thursday, hitting $309.31. 388,154 shares of the company traded hands, compared to its average volume of 650,330. The firm's 50-day simple moving average is $257.47 and its 200 day simple moving average is $227.00. The company has a market cap of $11.08 billion, a P/E ratio of 34.44 and a beta of 1.04. Fabrinet has a 12-month low of $148.55 and a 12-month high of $310.16.

Fabrinet (NYSE:FN - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The technology company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.05. The firm had revenue of $871.80 million for the quarter, compared to analysts' expectations of $857.12 million. Fabrinet had a net margin of 10.00% and a return on equity of 17.99%. The business's quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the company posted $2.39 EPS. Analysts predict that Fabrinet will post 9.4 earnings per share for the current year.

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.