Emerald Mutual Fund Advisers Trust Acquires 9,336 Shares of Fabrinet (NYSE:FN)

Emerald Mutual Fund Advisers Trust boosted its holdings in Fabrinet (NYSE:FN - Free Report) by 12.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,983 shares of the technology company's stock after purchasing an additional 9,336 shares during the quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.24% of Fabrinet worth $16,983,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, Director Rollance E. Olson sold 2,500 shares of the stock in a transaction on Tuesday, May 13th. The stock was 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 approximately $5,196,559.98. This represents a 9.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 owned 18,068 shares of the company's stock, valued at $4,336,320. This trade represents a 50.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FN. Rosenblatt Securities lifted 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. Needham & Company LLC reiterated a "buy" rating and issued a $280.00 target price on shares of Fabrinet in a report on Tuesday, May 6th. Barclays set a $234.00 target price on shares of Fabrinet and gave the stock an "equal weight" rating in a report on Tuesday, May 6th. B. Riley upgraded shares of Fabrinet from a "sell" rating to a "neutral" rating and cut their price objective for the company from $178.00 to $176.00 in a report on Friday, April 4th. Finally, Wolfe Research began coverage on Fabrinet in a research report on Tuesday. They issued a "peer perform" rating on the stock. Four investment 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, the stock currently has a consensus rating of "Hold" and an average target price of $247.50.

Fabrinet Stock Up 0.7%

Shares of FN opened at $291.27 on Friday. Fabrinet has a 52-week low of $148.55 and a 52-week high of $300.29. The company has a market capitalization of $10.44 billion, a PE ratio of 32.44 and a beta of 1.04. The stock has a fifty day simple moving average of $250.27 and a two-hundred day simple moving average of $224.76.

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

Want to see what other hedge funds are holding FN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fabrinet (NYSE:FN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.