Cerity Partners LLC Grows Holdings in Fabrinet (NYSE:FN)

Cerity Partners LLC raised its holdings in Fabrinet (NYSE:FN - Free Report) by 151.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,300 shares of the technology company's stock after acquiring an additional 1,990 shares during the period. Cerity Partners LLC's holdings in Fabrinet were worth $652,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FN. Private Trust Co. NA boosted its position in shares of Fabrinet by 44.3% during the first quarter. Private Trust Co. NA now owns 166 shares of the technology company's stock valued at $33,000 after purchasing an additional 51 shares in the last quarter. KBC Group NV grew its stake in Fabrinet by 12.1% during the 1st quarter. KBC Group NV now owns 1,594 shares of the technology company's stock worth $315,000 after buying an additional 172 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Fabrinet during the 4th quarter worth about $1,945,000. Pictet Asset Management Holding SA increased its stake in shares of Fabrinet by 7.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,942 shares of the technology company's stock valued at $1,087,000 after purchasing an additional 347 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Fabrinet in the first quarter valued at approximately $369,000. Hedge funds and other institutional investors own 97.38% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wolfe Research initiated coverage on Fabrinet in a research note on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Rosenblatt Securities upped their price target on shares of Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Needham & Company LLC reiterated a "buy" rating and set a $280.00 price target on shares of Fabrinet in a research report on Tuesday, May 6th. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $178.00 to $176.00 in a research note on Friday, April 4th. Finally, JPMorgan Chase & Co. increased their price objective on Fabrinet from $235.00 to $318.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $261.33.

Insider Buying and Selling

In other news, Director Rollance E. Olson sold 2,500 shares of Fabrinet stock in a transaction dated 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 directly owned 23,201 shares in the company, valued at $5,196,559.98. This trade represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Harpal Gill sold 18,675 shares of Fabrinet stock in a transaction dated 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 transaction, the chief operating officer owned 18,068 shares of the company's stock, valued at $4,336,320. This represents a 50.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

Fabrinet Price Performance

Shares of FN traded up $3.44 on Friday, hitting $308.29. The company's stock had a trading volume of 236,569 shares, compared to its average volume of 475,514. The company has a 50 day moving average price of $266.18 and a 200 day moving average price of $229.81. The company has a market capitalization of $11.05 billion, a PE ratio of 34.33 and a beta of 1.04. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $314.47.

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

About Fabrinet

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.