Fabrinet (NYSE:FN) Holdings Lifted by Cwm LLC

CWM LLC boosted its position in Fabrinet (NYSE:FN - Free Report) by 158.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,258 shares of the technology company's stock after buying an additional 1,386 shares during the quarter. CWM LLC's holdings in Fabrinet were worth $446,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Private Trust Co. NA grew its holdings in shares of Fabrinet by 44.3% during the 1st 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 in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Fabrinet by 1.7% during the first quarter. State of Alaska Department of Revenue now owns 4,205 shares of the technology company's stock worth $830,000 after buying an additional 70 shares in the last quarter. Henry James International Management Inc. boosted its stake in Fabrinet by 5.6% in the first quarter. Henry James International Management Inc. now owns 1,317 shares of the technology company's stock valued at $260,000 after acquiring an additional 70 shares during the last quarter. Illumine Investment Management LLC boosted its position in shares of Fabrinet by 2.2% during the first quarter. Illumine Investment Management LLC now owns 3,461 shares of the technology company's stock worth $684,000 after purchasing an additional 75 shares in the last quarter. Finally, Cim LLC lifted its position in Fabrinet by 1.4% in the 4th quarter. Cim LLC now owns 6,013 shares of the technology company's stock valued at $1,322,000 after acquiring an additional 82 shares in the last quarter. 97.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Fabrinet news, Director Rollance E. Olson sold 2,500 shares of the business's stock in a transaction that occurred on 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 sale, the director owned 23,201 shares in the company, valued at approximately $5,196,559.98. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Harpal Gill sold 18,675 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief operating officer directly owned 18,068 shares in the company, valued at approximately $4,336,320. The trade was 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 Price Performance

NYSE:FN traded up $3.44 during midday trading 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. Fabrinet has a fifty-two week low of $148.55 and a fifty-two week high of $314.47. The firm's 50 day moving average is $266.18 and its 200-day moving average is $229.81. The firm has a market cap of $11.05 billion, a P/E ratio of 34.33 and a beta of 1.04.

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, beating analysts' consensus estimates of $2.47 by $0.05. The firm had revenue of $871.80 million for the quarter, compared to analyst estimates of $857.12 million. Fabrinet had a return on equity of 17.99% and a net margin of 10.00%. The business's revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.39 EPS. As a group, analysts forecast that Fabrinet will post 9.4 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.