Fabrinet (NYSE:FN) Shares Acquired by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its holdings in Fabrinet by 11.6%, bringing their total position to $2.61 million after acquiring an additional 1,368 shares in the first quarter.
• Several institutional investors, including LPL Financial LLC and Wells Fargo & Company, have significantly lifted their positions in Fabrinet, indicating strong institutional interest with 97.38% of the company's stock currently owned by such investors.
• Fabrinet reported quarterly earnings of $2.52 EPS, exceeding estimates, with a 19.2% year-over-year revenue increase of $871.80 million for the quarter.

Cetera Investment Advisers boosted its stake in Fabrinet (NYSE:FN - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,212 shares of the technology company's stock after purchasing an additional 1,368 shares during the quarter. Cetera Investment Advisers' holdings in Fabrinet were worth $2,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LPL Financial LLC grew its holdings in shares of Fabrinet by 110.4% in the fourth quarter. LPL Financial LLC now owns 14,531 shares of the technology company's stock valued at $3,195,000 after purchasing an additional 7,624 shares in the last quarter. Wells Fargo & Company MN lifted its position in Fabrinet by 10.1% during the fourth quarter. Wells Fargo & Company MN now owns 47,191 shares of the technology company's stock valued at $10,376,000 after purchasing an additional 4,340 shares during the last quarter. FMR LLC grew its stake in shares of 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 buying an additional 257,164 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Fabrinet by 2.5% in the 4th quarter. Bank of Montreal Can now owns 18,891 shares of the technology company's stock worth $4,154,000 after buying an additional 466 shares during the last quarter. Finally, Shelton Capital Management bought a new stake in shares of Fabrinet in the 4th quarter worth about $306,000. Institutional investors own 97.38% of the company's stock.

Insider Transactions at Fabrinet

In other news, Director Rollance E. Olson sold 2,500 shares of Fabrinet stock in a transaction that occurred 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 sale, the director owned 23,201 shares of the company's stock, valued at approximately $5,196,559.98. The trade was 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 link. Also, COO Harpal Gill sold 18,675 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $240.00, for a total value of $4,482,000.00. Following the completion of the transaction, the chief operating officer directly 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.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FN shares. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 price target on shares of Fabrinet in a research report on Tuesday, May 6th. Rosenblatt Securities lifted their target price on Fabrinet from $250.00 to $290.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Barclays set a $234.00 target price on Fabrinet and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. Wolfe Research began coverage on Fabrinet in a research report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Fabrinet from $235.00 to $318.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $261.33.

Fabrinet Trading Up 3.0%

Shares of FN stock traded up $10.01 on Friday, reaching $345.12. 683,717 shares of the company's stock were exchanged, compared to its average volume of 706,351. The company's fifty day simple moving average is $286.97 and its 200 day simple moving average is $236.69. Fabrinet has a 52 week low of $148.55 and a 52 week high of $345.71. The stock has a market capitalization of $12.37 billion, a PE ratio of 38.43 and a beta of 1.02.

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